Lesson #2: The World is Moving From Products to Services

Subscription companies like Netflix and Spotify are exploding because billions of digital consumers are increasingly favoring access over ownership. You all know that already. I mean, owning CDs or downloading songs is so old school that even your grandpa is not doing it. Instead of buying cars, people are starting to prefer Uber and Lyft services.

Most companies are still built to sell products. They focus on selling only once, making only one transaction. In contrast, subscription-based companies build a solid relationship with their potential clients and eventually offer a service, or even a physical product, that will lead to a long-lasting relationship.

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