Top 7 Reasons to Create and Sell Digital Products Online in 2020
Nerding out over digital product ideas isn’t exactly a foreign concept to me.
In fact, creating “passive income products” is really what allows me to keep things running over here!
But aside from being a great source of income, digital products give me the freedom to live life on MY terms! Anddd because I’m not trading my time for money, I’m able to serve WAY more people than I ever possibly could with 1:1 client services.
So if you’ve been hustling hard to get new clients, or sacrificing your sleep over 1:1 projects, then it might be time to switch gears… and think about where you’d like to see your business 10 years down the line!
Because, believe it or not, digital products can make a huge impact on your bottom line as a blogger or online business owner.
They also let you work smarter, not harder, so you can finally strive towards that whole “work life balance” thing that you totally gave up on 2 years ago.
So if you’re ready to take the leap and turn your “side hustle” into a thriving online biz, then keep reading along, sista friend!
You’re about to find out the top 7 reasons why you need to create and sell digital products as a blogger or online business owner in 2020.
P.S.: Love learning about digital products and passive income? Download my FREE Digital Product Survival Guide below (it’s not as intimidating as it sounds— promise).
1. Passive Income
If you have a freelance or service-based business, then you already know how it goes: you’re trading time for money.
If you don’t work, you don’t get paid— simple as that.
But by leveraging passive income with digital products, you can technically “make money in your sleep!”.
I have some mixed feelings about that phrase and think it can be a bit misleading— passive income definitely requires some serious work in the beginning stages.
But in full transparency— you actually can make money in your sleep because your product will sell itself on autopilot (even when you’re logged off/not working).
You just have to be in it for the long haul, and really understand that consistent passive income (like everything good in life) will take time.
2. You create it once then sell it again + again
What makes passive income & digital products so great, is that you can technically do most of the hard work up front!
Now, this doesn’t mean the process will be quick or easy. Depending on your product, the creation process could take days, weeks or even months to accomplish.
But once your digital product has finally been created and is ready for launch, you can sell it on autopilot and reap the rewards time and time again.
3. Low overhead, high profits
Let’s be real— selling physical products isn’t exactly a walk in the park, and inventory costs (storage fees, shipping, etc) can be a pretty big headache for small biz owners.
But with digital product creation, your biggest “cost” will be your time & effort spent in the beginning stages.
In terms of overhead costs, no need to worry! You’ll never run into inventory or shipping issues— which means less overall financial risk for you!
Andd because inventory isn’t an issue, you can focus your efforts on marketing your product and generating more traffic/sales. Whoop whoop!
4. Digital products are the most profitable way to make money online
No matter how much Google search traffic you’re bringing in, you still can’t change the fact that most affiliate programs offer a measly 10% commission rate (if you’re lucky).
And unless you have an agency with multiple team members, you’re going to find it difficult to create a consistent, full-time income from affiliate sales alone.
That’s not to say you can’t do it— of course you can. But why live in struggle city when you could learn how to create your own digital product?
Instead of living off 10% commission rates, you get to keep ALL of your profits (ok ok, maybe not when tax season rolls around, but you get the idea).
So instead of constantly shouting to the masses about someone else’s product that brings in a few bucks here + there, why not spend some upfront time creating a product that YOU love and have full control over? Seems like a no-brainer to me.
Want to learn more about how you can generate passive income with digital products? Don’t forget to download my free guide below so you can begin the creation process!
5. Location Independence + freedom
One of the biggest reasons why I’m such a big advocate for digital products is because they offer an extremely flexible lifestyle.
Unlike with a 9-5 gig, you can take your digital product biz and virtually work from anywhere you choose in the world.
Sure, the same could be said for remote freelance work…
But balancing freelance work + travel isn’t exactly a stress-free lifestyle. And even if you choose to “settle down” for a bit, you’ll still be trading your time for money with 1:1 projects.
With digital products, though, you won’t need to be on a strict schedule to see income flowing in.
This means you’ll have more time to enjoy your newfound freedom. You can even travel the world and work from your laptop.. you know, if you’re into that kind of thing. ;)
6. You can help more people
There’s no doubt that client work is rewarding. By offering your services + expertise, you can get some pretty incredible results for a business.
But with that being said, there’s a limit to how many clients you can take on without completely losing your sanity. You’re only one person and there’s only so many hours in the day.
And unless you’re running a small team or agency, juggling multiple clients can not only be challenging—it's a sure-fire way to burn yourself out.
But with a digital product, the sky is the limit with how many people you can serve. Assuming you’ve already set up an automated process, you can sell your product to anyone, at any time, and in any location. Pretty dang cool, if ya ask me!
You can also help clients that would love to work with you, but might not be able to afford your custom services.
For example, the reason I started creating my premade graphic design templates was because I saw a need for them— I had created custom graphic templates for several online biz owners in the past.
Eventually, it became too much work and the payout wasn’t worth my time. So I systemized the process by creating DIY templates, and I was able to impact way more people with less “work” on my end.
7. You get to be your own boss
This one really depends on your own perspective—you might see biz ownership as a blessing... orrrr you might see it as a curse.
If you feel like you need to be told what to do in order to get things accomplished, then digital products probably aren’t for you.
There’s never going to be anyone looking over your shoulder, pressuring you to finish the job by XYZ deadline.
It’s alllllll up to you to get it done.
Personally, I HATE being told what to do or feeling like I’m being undermined in any way.
So let’s just say that working for someone else isn’t in the cards for me… and being my own boss is really why I thrive with digital product creation!
Final Thoughts on Digital Products
If you have yet to hop on the digital product bandwagon, then consider this your sign!
Digital products are, without a shadow a doubt, one of the most profitable ways to make money online. And more importantly (in my opinion, anyway)— they give you the freedom to live life on YOUR terms.
Which is reason enough to start creating them, am I right?!
So even if the market seems saturated, or you feel like “there’s not enough room for you”, I strongly encourage you to cast your fears aside + just go for it anyway.
Chances are, you’ll have to create a product that’s been done before— nothing is 100% “original”, after all. But here’s the great news— no one has ever created something with YOUR special touch.
So go ahead + take that leap of faith— your business will thank you later!
But if you’re feeling nervy, scared or confuzzled about any of this digital product/passive income stuff, I’m just a quick message away. :)
Feel free to drop a comment below with any questions, concerns or challenges you’re facing and I’ll get back with you ASAP!
Chat soon, friend.
XO, Fal
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