WhatsApp ,Dollar Beard Club, Dollarshave Club, The Honest Co.
All worth millions…if not billions. The point…subscription works.
I’m obsessed with it! For me it plays a integral part in every business I own.
But, it didn't start like that…
For the sake of this blog. I’m going to give you a fictitious character. So lets pretend your name is Joe. You have a service business that strictly does high ticket at 1k plus. You only sell packages and take the money up front wherever you can for 8 week or 12 week packages. After the time period you then attempt to re-sell them onto the same programme.
Ok ok, maybe that was me few years back before I changed my service business to ALL subscription and never looked back.
Firstly, let me tell you why the above is an ok scenario but NOT the best. I was living every single month on NEW sales. I got into the mentality that I had to hit “X amount” PCM in sales (not cash) every month or I failed. I grafted like FUCK every month to hit my target by the last day of the month.
If I did, i’d be ecstatic…if i didn't I’d be pissed off. Although the ecstatic feeling only lasted for a couple of days before I had to do the same task over and over again, month after month.
Anxiety, stress, not seeing friends/family, forever “hustling”, not having time off in case I missed a sale, worse when I did have time off I’d just count the amount of money you’re losing by not delivering a session, worrying more about numbers than my customers, comparing my happiness to a % of close rate, worrying about lead gen the whole time, knowing I had to replenish clients fast as they had a sell by date and worst having to play “catch up” after a holiday leaving me more exhausted than before I went away!
That description above was me 4 years ago down to a t! Now, I’m certainly NOT going to go all guru on you and tell you that life is now easy with no stress, no anxiety and it’s plain sailing. That would be a lie, BUT a lot has gone due to now building EVERY business I have with a level (if not all) of subscription within it…
…subscription plus maturity (yes growing up) has been a game changer for me.
It’s allowed me to take time off and get paid, spend time with loved ones, not have to live at 100 miles a hour, not have as much guilt (note I say “as much”), predict my earnings, helped me obtain a mortgage and more importantly helped me grow a business (or a few) without “busy person” syndrome.
**“busy person syndrome” you know, where you pretend you have a business but really you’re just busting your gut and if you had a week off you’d earn a big fat £0.