Create Passive Income In Your Product Business

growth subscription boxes Apr 10, 2020

Passive income for your product business?

Look, no snake oil.

No cards hidden up my sleeves.

No magic tricks at all.

I normally talk about how to use simple systems to create more ease in your business.

But the conversation I’ve been having this past fortnight is more about business survival.

How do I keep my business going?

How long is this going to last, and how do I need to change if it’s for a while?

And although I normally talk about clarity and systems, I also run a subscription box.

And subscription boxes have suddenly become a much more interesting topic.

Let me be totally honest here - my subscription box business has grow by 1/3 in the past two weeks.

I’m not BS-ing you.

It’s the kind of sales we normally see in December.

And I’m hearing the same thing from other subscription boxes and businesses who promote gifting.

If we’re all relying on post for some time (those on full lock-down as they’re more vulnerable definitely are), then the question is how you step in to help them.

How you create joy.

How you lift their spirits with the box that arrives on their doorstep.

So I’m going to suggest you spend a good 30 minutes thinking ‘How could this work for me?’

How could you create a subscription box, a delight to receive - or gift, that will also give you recurring income?

Believe me, it will be worth more than spending 30 minutes scrolling social media… by a long way.

There are so many things to recommend subscription boxes, from cashflow to recurring income, from creating a real experience to delight your customers - to easier use of fulfilment centres (with one monthly mail-out) so you don’t have to have mountains of stock at home.

I’ve summarised a few key ways subscriptions make a lot of sense now - and because we like an attention grabbing headline, how they could bring in an additional £100k for your business in the next 12 months.

The '£100k' depends on your existing customer base / the value of your products, but it takes a lot less than you probably think - and I’ve explained how I get to this number too.


Before you go!

If you're looking to grow your subscription box, you might find this free checklist useful - I've stepped out the 8 key elements to create a successful subscription box.



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