How To Create Digital Products For My Business?

It’s easy to create residual income with digital products no matter what industry you are in. You just need to know where to start.

What is a digital product?

A digital product is something that is delivered directly to a customer electronically, usually over the internet. The possibilities are endless. You can deliver audio, video, books, worksheets, and even complete courses online.

With today’s smart phones, you pretty much have all you need in the palm of your hand. You can take photos, audio and video directly from your phone. You can upload them online directly from your phone. You can manage an autoresponder directly from your phone. You can even update a WordPress webpage directly from your phone.

No longer is the use of technology a barrier to creating great digital products.

What kind of digital product can I create?

The digital landscape is only tethered by your imagination. Here are a few examples I personally know about:

· A cake baker released some of her ‘secrets’ and created a six figure a year ‘side’ income using video training.

· A dog trainer created simple training and is making more than six figures with his business model.

· Just last week I was on a training call with a writer who is making seven figures after quitting writing and developing products for writers using a simple, and free, mind map software.

· Personally, I know a house inspector who is developing a software to help his business that he plans to sell to other inspectors. The software was already created, he just needed to make it fit his niche.

As you can see, there are opportunities no matter what industry or niche you are in. Just look at what you do for your customers. Look at what you know about building your business. I bet if you asked around you could find something that you enjoy either professionally or recreationally that could easily become a digital product.

Step One: Find a need

Every great product starts with a single problem. The key is to solve it better or in a unique way than someone else. I like to ask myself these three questions:

· Can I make something easier?

· Can I make something faster?

· Can I automate something?

· Can I introduce it to a new crowd?

Step Two: Connect with an audience

Find those people who would be most interested in your idea. Go into forums, social media groups or blogs and get to know them personally. While on these sites, take note of the problems they mention. Jot down the exact words they use to describe their problems.

Step Three: Create an outline and produce a product

Use Amazon or look at your library or local book store. Find a successful book and see how they outlined their training. Don’t steal their ideas, just use it as a guide as you make a product that is uniquely yours.

Step Four: Deliver the product

Use a webpage or autoresponder to deliver your product. Once you get some interest and gain some customers, you can pay to develop a different way to deliver your product like a membership site or an online digital store. The possibilities are virtually endless.

Why would people buy from me when they can get it for free on YouTube?

This is a great question. People want to have everything in one place. They don’t want to go all over searching for it. If you make it convenient and solve a real problem for your customer, they will want to come running to your products.

I recently saw a product released that was a two page document with links to YouTube videos and other training sites. People were buying this product like hot cakes because they saw the value in having all the resources in one place.

Conclusion

Digital products take up no inventory and can be delivered day or night without you having to be there. The key is to create a good system that does all the work for you. Then, simply create something that is so valuable and uniquely you, that people fall in love with your product and come running with their wallets open.