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The barber, blacksmith, butcher, baker and candlestick maker used to have an intimate knowledge their customers. This tacit knowledge got lost in the Industrial Revolution. It is now coming back.
The world is moving from products and services to subscriptions, favoring access and transformations over ownership and deliverables. McKinsey reports that the subscription ecommerce market has grown by more than 100% per year for past five years. Further, subscription-based companies are growing eight times faster than the S&P 500 Index (17.6% vs. 2.2%), and five times faster than US retail sales (17.6% vs. 3.6%).
The advantages to a subscription model are many, including: predictable revenue; collective knowledge of your customers; one-to-one marketing; forecasting for demand and planning more effectively; and breaking down silos and creating a true “one-firm” model.
CPAs, accountants and financial professionals.
Ronald J. Baker is the founder of VeraSage Institute, dedicated to teaching value pricing to professionals and bettering the professions, and a radio talk-show host on the VoiceAmerica.com show, The Soul of Enterprise: Business in the Knowledge Economy. He has been an instructor for the CalCPA Education Foundation since 1995, teaching 15 courses, and is the best-selling author of six books, including The Firm of the Future, Pricing on Purpose, Measure What Matters to Customers, Implementing Value Pricing, Mind Over Matter, and The Soul of Enterprise: Dialogues on Business in the Knowledge Economy.
Baker has toured the world, spreading his value-pricing message to over 150,000 professionals. He has been appointed to the AICPA Group of One Hundred; named to Accounting Today’s Top 100 Most Influential People in Accounting list in 2001-2007 and 2011-2016, and voted number six, nine and three on its Top 10 Most Influential People in Accounting list in 2012-16; selected as one of LinkedIn’s 150 Influencers, with over 220,000 followers; and received the 2003 Award for Instructor Excellence from the CalCPA Education Foundation.