Crucial Steps to Building a Subscription-Based Business
Robbie Kellman Baxter makes the case for subscription-based businesses and provides a few expert tips on how to take your business in that direction.
If you’ve been tasked with launching a subscription-based business at your organization, or are thinking about starting your own XXX-as-a-service or XXX-of-the-month-club, before diving in, take a step back.
To ensure a solid foundation, I encourage companies to devote a few weeks (usually at least 2 and no more than 12 weeks) to fleshing out the business case before proceeding. After all, the objective of testing is to assess the viability of the model, make necessary adjustments, and get the green light to move forward at a broader level. Without understanding the business case, how will you, and your organization, know whether you’re on the right track.
Details covered in this article include:
- The business rationale
- The forever promise
- Executing the vision
- The risks of the strategy
- The early steps, research, and tests needed
- Criteria for board support
Read the full article, Making the Case for a Subscription-Based Business, on LinkedIn.