Last time, I talked about why it’s a good idea to create subscription services. It’s a good revenue stream, and it can also make products more affordable for customers. But there’s an added aspect of subscription services that you shouldn’t do without – and that’s giving customers the choice to cancel anytime.
Traditional thinking would tell you that if you really want to know as much as you can about running a business, you need to take an MBA. There are lots of universities offering MBA courses, but not everyone can afford it. And not everyone wants to take an MBA. Moreover, not everyone needs an MBA. Especially today.
You may have noticed it with many cloud-based services today. They ask you to pay some amount monthly or annually. Also, it’s billed automatically at a specific date of every month or a specific month of every year. These so-called subscription services are becoming increasingly popular, and nearly everyone is following suit: Adobe with their Creative Cloud, Dropbox, Slack, Hootsuite, and many others.
For people doing freelance work or just starting out their online business in the UK, getting clients is indeed a challenge. Not a lot of people want to hire the new guys; many prefer those with experience. Desperation can sometimes even force you to sell yourself short.
Tracking the expenses related to your business is an important part of any business, big or small. Knowing where your money goes, you would then know what you should spend more on, as well as what you should cut spending on. It’s a huge part of continually improving your business.
If you have an online business in the UK, chances are you have a website. But of course, that website is no use without good design. And it certainly can’t be effective if not crafted carefully.
About Peter Bright
Entrepreneur and Business Development Coach · London, United Kingdom Several businesses including management consulting, social media, online businesses, property investments, passive income creation and second income creation.
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