Can you imagine waking up on the 1st of every month and £10k dropping into your business' bank account?
During today's episodes Robin Waite, Founder of Fearless Business talks through all of the pros and cons around building a subscription model into your business.
What we'll be discussing today:
He'll walk through the various pricing models available and how to determine which one is relevant for your business including:
- Building a compelling front-end offer
- Different types of membership/subscription business models
- Explaining what Customer Lifetime Value is and how to generate great lifetime value
The upsides to running a subscription model business:
- That creates regular sustainable income
- Building a tribe of raving fans who refer more clients into your business
- How a thriving community can help to get even better results than working with clients individually.
The downsides to running a subscription model business:
- How to overcome client churn and the admin created within a subscription model business
- Growth can be incredibly slow when enrolling new clients/customers
- It can require having an incredibly large audience
- Cashflow is spread out over several months or years even
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