I made a huge mistake.
When I started my online business, I only wanted to be a service business.
“I definitely do not want to create any products,” I remember myself saying.
I thought the real money was in services and working with clients.
That was until – on a whim – a created my first product.
But I’m getting ahead of myself. You’re probably wondering…
What is a digital product?
You’ve been purchasing digital products all the time…
… and have been making others rich.
Movies, music, video games, audio files, templates, courses (both video and text) – all of these are considered digital products.
In the old days, you’d have to go inside a store and buy a giant box containing a CD. Or, you’d call a number in the back of a magazine.
Now, with this new invention called “the Internet,” these are delivered instantly though download.
Most of what we buy nowadays are digital products. After all, when was the last time you went outside to purchase media instead of streaming it or download it?
What I’m saying is that distributing your digital products is incredibly easy these days.
You’re probably thinking “Hey, I can make most of these with my laptop.”
So that’s what I did when I decided to –
Create a digital product
It was a slow month, so I thought “what the hell, I might as well try it once.”
I spent about three weeks writing a book about music licensing – something I’ve done before.
The book was all about how to get started selling your music, what kind of music to write, and pretty much any information someone needed to get started with music licensing.
All I had to do was do a whole lot of reading and writing about a topic I really like. Format the document into a PDF and create a title page.
This stuff is not rocket science.
I wrote a sales page and released it out into the world.
The first night, I was refreshing the page non-stop until I had to go to bed.
By the end of the first week, I only sold a few copies…
I didn’t become rich overnight…
I wasn’t able to buy my first Lambo…
But I did have a product that made sales.
A product that made sales without me having to do anything.
You see, I set up an online sales funnel that brings in people from Google to my sales page. Because I know SEO, this is free traffic – tens of thousands of people are coming to my sites every month.
And now that I set it up, It’s all on autopilot now.
Every few days I get an email saying “ congratulations, you’ve made a new sale.”
Is it enough for me to quit my job?
But is it a great way for some extra pocket money that requires NO additional work from me?
The best part? I’m able to lay in bed and watch YouTube while people send me money.
I’m not sure if you’ve ever felt that, but having a truly passive income stream – even if it’s small – is an amazing feeling.
I spent a few weeks and now I have an asset that produces income. My only costs are spending my time writing and marketing the thing.
Now imagine how much money you would have to pay to get any other kind of revenue-generating asset like real estate – or even just money in an index fund.
So, what am I doing now?
Now, I’m working on a few more products.
I have a few more music products in development as well as some marketing courses and a couple of tech courses.
I have no shortage of ideas – the hard part is deciding which one to finish first
Like I said before, I don’t expect to get rich from one of these products, but if each product is just a little bit better than the last one, I’ll build up passive income cash flow.
Here’s to 2021 and creating more digital products!