We’re continually working to speed up efficiency in all areas of our lives, both personal and commercial. We’ve definitely learned how to “Tinder-ize” our lives. We navigate our existence by making split second decisions in our palms from any location. This generation of increased productivity and technical engagement has led to the rise of several new industries. A major one that’s seen recent proliferation is the subscription industry.
Affordability and efficiency have married to produce a culture that is able to function via transparent pricing and guaranteed services. You can now buy packages that offer a secretary, graphic designer or SEO guru for a monthly rate. This allows us to simplify our lives and increase productivity with a neat and pre-measured subscription package.
What can the subscription model do for you?
At large, business owners are embracing this outsourced option because it is more affordable and saves on production time. When it comes to starting your own business, we know cash is almost always an issue. Not only that, but you want to ensure you’re spending your money wisely. Now is a wonderful time to be an entrepreneur because starting a business is within reach for a fraction of the cost of what it was even 10 years ago. With the click of a button, you can hire a virtual receptionist to handle your calls and agenda, create your company logo, web design, or take care of your monthly accounting and bookkeeping needs.
It is important to always consider the value that this particular service adds to your company and consider “would I have to hire an employee or a large company to get my desired product?” If the answer is yes, then this service is definitely a needed service. With some effective research, you may find that the subscription model gets you the most bang for your buck.
Long term plans for subscriptions
The subscription model can also continue to add value the longer you use it. Subscription companies know they have to earn your money each and every month. They work harder to maintain brand loyalty and are continually upgrade their offerings to earn your business.
Small business owners and entrepreneurs can decide how much or how little of a service to partake in, based on how much they have in their budget. Online resources are great for business starting outside of large cities as they may not have access to that kind of expertise. Being located in a rural area is no longer a hindrance to finding top-notch experts. Businesses can easily launch into a productive mode as the conscious decision for the service is eliminated and integrated into your monthly budget, thus minimizing ongoing concerns.
Daniel Talkins is a Canadian Chartered Professional Accountant (CPA, CA) who founded Future Balance CPAs to help growing businesses manage their accounting and bookkeeping needs via the cloud, while incorporating the subscription pricing model. Daniel is located in Toronto and presently serves all of Canada. Browse his website for further information and webinars geared towards the modern entrepreneur.
Connect with us:
Facebook + Instagram: @Future Balance CPAs
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