The four critical factors are: (a) businesses with recurring revenue bases — like a renewable
subscription — are far better than ones dependent on constantly securing new customers; renewals are much
easier and less expensive to secure than new sales; (b) customer retention is absolutely critical — all customers are very costly to acquire and very
easy to lose in a world of almost infinite
choices; (c) businesses based on products that require constant replacement or renewal (the «razor blade» model) are much more attractive than durable goods businesses (like selling refrigerators) where the products have very long repurchase or replacement life cycles and where the market could even fairly quickly reach saturation points; and (d) businesses that offer products or services that had a predictably high rate of obsolescence were much more attractive than those where the products had long, useful lives.
Patreon is a very popular
choice for artists, musicians, and writers, and with its
easy - to - use design and
subscription - style service of keeping artists and their supporters regularly connected, it's a great method for building and growing your author platform.