Transitioning to a subscription-based model can present several challenges for a company. These can include a significant shift in company culture and mindset, as the focus moves from product sales to customer service and retention. There may also be technical challenges in setting up and managing the subscription model, including billing and tracking usage. Additionally, there may be financial challenges, as revenue becomes more predictable but also potentially lower in the short term. Finally, companies may face resistance from customers who are used to owning products outright.
Subscription services have grown revenues 8X faster than the S&P500 and 5X faster than US retail sal...
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