How do you continue to grow your recurring subscription revenue during a recession?
During recessions, when consumers are experiencing layoffs, seeing friends laid off, and hearing about layoffs on social media, they cut back their subscriptions.
And, while subscription businesses outpace the market during upturns, they can also outpace the downside as subscriptions are really easy to target for cutbacks.
The five keys are:
- Watch here
This episode of Be Unleavable® Subscription Growth reveals the five keys to surviving and thriving during slow economic times when consumers are otherwise cutting back on their subscriptions.
🏡Where I’ve been:
Looks like Kory and I brought COVID home with us from Milwaukee last week.
Too sick to work but not sick enough to watch Netflix all day. I did get some reading done.
Which brings me to…
📘 What I’m reading:
The Almanack of Naval Ravikant is the most relevant career-building book I’ve read in the last 15 years.
Think of it as the Dale Carnegie book for today. This book teaches how to build wealth, develop judgment, be happy and essential philosophy.
This book has insights on choosing careers and developing business opportunities in today’s economy that make it essential reading for anyone just starting out or searching for their path to success.
🧠 What I’m pondering:
WeWork cofounder Adam Neumann has raised $350M from leading US venture capital firm Andreessen Horowitz for a new residential real estate venture called Flow, according to reports. The figure is the largest individual investment made by Andreessen Horowitz, also known as a16z, which has been an early investor in companies like Facebook and Airbnb. Flow is expected to launch in 2023 and is already valued at more than $1B.
I have always enjoyed WeWork’s product. For years, in my mind, Adam Neumann was good.
However, when WeWork filed to go public, financial details became public. The company valuation was way overpriced. And, there were lots of side deals Adam Neumann created reportedly to siphon money out of the company to himself. My mind switched to Adam Neumann is bad. And, all the subsequent press about WeWork’s billion-dollar buyout to get rid of Neumann confirmed my decision.
This investment made me rethink my black and white, good versus bad decision-making about Adam Neumann. And, it’s an important reminder about that thinking in general.
We are taught to think in terms of opposites. Few things are all bad or all good.
Adam created a great company in WeWork. And, he probably oversold what the company could become. However, he got things done and he’s probably worth betting on in a new venture.
Whenever I can remind myself to let go of duality thinking I take the opportunity. There are a lot of opportunities within the two extremes. And, peace of mind, too.
What do you think?