- February 28, 2016
- Posted by: oldposts
- Category: Tips
The threat of subscriptions for startups, business or personal finances.
Usually, subscriptions tend to be with a low monthly price. 5.99$ / 2.99$ / 9.99$ / etc and it seems to be small amount to pay. One or two subscriptions is not a threat but depends on the situation.
I wanted to mention that I do low subscriptions and I have around 5 different services I use and pay monthly. It’s great, as I don’t have to lay down a pile of cash to use it. However if I count what I have spent – is it worth it? That’s the question you should be able to answer.
I asked in twitter for my few followers if they would use subscription or buy now module:
Would you use subscription model or buy now?
— Rinalds (@rinalds) February 7, 2016
At the end – it all depends on the price. And I understand it – paying a lot for a subscription would feel like buying it and we don’t like to always buy things, so we subscribe.
Startups should be careful when choosing a subscription or buy now module. In these times, there are a lot of businesses that sell a different kind of services dedicated to startups and they are doing great.
Many startups get sold on these subscription modules – they believe that it will help them and few of them might be true. I did the same mistake as many startups do, get social management tool like this, track your progress with this and it all adds up to many subscriptions that takes money out from your pocket that could be used in a better way.
I would suggest startups with low budget to do as much as possible on their own without additional services, even if it takes a bit more of their time. Few monthly subscriptions can take you off from additional clients that you can get from advertising or invest in your product or service.
Sometimes it’s better to look into buy now module. It will be more expensive but in the long term you will be a winner!
Look trough the list of your subscription. Do you use all of them? Do you need them? I use Netflix from time to time. I subscribe to it, see what’s new and after one or two months I cancel it. Netflix doesn’t bring too much of new content so 3 – 4 months without Netflix brings me a good amount of money to go out and eat.
Try to keep subscription services as less as possible. You don’t need all of them.
Leave a comment below on your thought about subscriptions. Do you choose subscription over buy now module?