Wednesday, 19 October 2016
While this model allows us to really get to know our clients, it means we cannot scale our businesses. We get limited by the numbers of hours we can physically work. This business model also causes issues when we want to go on holiday. If we are not physically there, we do not earn any money.
So, how can we create a passive stream of income, which is not limited by time or having to be physically present?
A great solution is to create digital products. A digital product can make you money while you sleep. Sounds fantastic doesn't it?
Creating a digital product is surprisingly easy. Have a think about what products would work for your business. If you are a hypnotherapist or meditation instructor, then an audio products would be brilliant. If you are a yoga teacher you could create a video. If you are a nutritionist, you could create an e-book.
Take the time to make your digital product perfect. Edit your product to remove any small irritations, such as bad sound quality on a video.
Once you have created your product, you can offer it to your existing customers. People who already know, like and trust you, will be more comfortable buying from you. You can also sell your digital products using Facebook advertising and Google AdWords (Pay Per Click) ads.
Another advantage of creating a digital product, particularly a book, is that it creates a lot of kudos. It demonstrates that you are an expert in your field. This benefits all the areas of your business.
Have you ever created a digital product for your business? If so, what has worked well for you? And what obstacles have you had to overcome with creating digital products? Please do comment below.