If you’re looking for a business model that allows you to generate genuinely passive income and to make a money working from home or as digital nomad in the process, then a digital product business might just be right for you.
Digital products are products that exist solely in a digital format and include the likes of software, eBooks, e-courses and computer games. They also just so happen to offer perhaps the best business opportunity of any type of product, so read on to find out what makes them such a great choice for making money online.
1. No or very low startup-costs.
Right away, with a digital product you low or very little no startup-costs. That is to say, you might have intial costs while you’re developing your digital product but from that point on you will then be able to sell as many copies as a stand-alone-digital-product or as part of a bundle as you like with no need to pay for any physical resources or anything else.
Every new sale of the digital product or service will be 100% profit which can’t really be said about any other traditional business model, or more specific ‘revenue model’.
2. It’s truly ‘passive income’.
Of course some services are also like this. If you are a writer or web designer for instance, then you probably won’t have to spend much money to make money and that means that you can often also keep 100% profit.
But where an online or offline service business falls down is in the fact that you will be exchanging your time for money. This in turn means you’ll need to constantly be available at specific times of day and you might even need to travel when the current crisis is over.
A digital product though is truly passive. Once you have set up an online store, and you have people visiting your site, you can make money while you sleep or while you’re doing something else…..
3. No stock.
With a digital product, you require zero digital space for stock nor any physical storage space and that means you don’t need to rent a warehouse or fill your front room with books.
4. No or little investment upfront.
Just as there are hardly any startup-costs, there is also very little investment necessary. This means it will take barely any time for you to break even and to start generating real profit. In turn this also means that there’s no risk so you’ll be able to start your new digital business without taking out a huge loan and putting your family in danger. Which is great nice in this Corona-crisis, don’t you think.
5. No physical delivery.
As though all that wasn’t enough, digital products don’t even require delivery. That means you won’t have stock going missing or customers claiming they never received their goods. Digital products are cheaper and faster in every way.
That is why I started as parttime digital business owner in 2001 next to my dayjob at ABN Amro (see here). And I learned how to make money from home working together with people worldwide including from Fiverr at very low costs. And by doing what I really liked and still like and that is writing eBooks like the one on Digital Strategy Mapping that you also see in the ‘mockup’ in the header of this blog.
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Tony de Bree
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