There hasn't been any news lately about an upswing in the economy. So what should you do to make a profit in these dark times?
Economists may come up with various theories, but today's economy is simply based on the rate of consumption. If our society as a whole consumes more products in a given time, the economy will get better. If we go to restaurants more often, the restaurant industry will make more profits; if we buy new cars more often, the automobile industry will make more profits. Therefore, every business tries to increase the consumption rate through intense marketing campaigns, by making products' life expectancy shorter, or whatever else they can think of.
The Desire to Buy
Due to such efforts, we live in a society with more than enough material goods. We should appreciate living in such conditions, but it can cause a problem for business owners. Because consumers already have enough stuff, they have very little desire to buy anything new. Think about yourself. Besides special-interest items (e.g. things related to your hobbies), you already have pretty much everything you want, don't you?
The Subscription Model
It is extremely hard to sell products to people who already have more than enough, and the situation will only get worse. To survive in this society, one solution is to use a subscription model. For example, Microsoft Office used to just be software; once we purchased it, we were able to use it for years. Today, we have to buy a subscription and renew it periodically, so that we users are forced to pay more often. So, Microsoft makes more money. You don't need to switch to selling subscription services right away, but it is definitely an option worth considering.
© February, 2017