Sell digital products. Courses, videos, eBooks, whatever. But digital. “Sell digits, not atoms,” says entrepreneur Bill Myers.
I don’t have to worry about inventory, overhead, shipping, tracking, or any of the other hassles associated with physical products. And although I of course have expenses, the amount it costs me to create an additional copy of one of my products is essentially zero. Apart from my books, I would never even consider dealing in physical products.
It took me a long time to figure this out. It wasn’t until a libertarian marketer took me aside and just shoved the idea for Liberty Classroom in my face that I realized what I should be doing. It’s obvious in retrospect, but it wasn’t obvious before.
Eben Pagan is the perfect example of what I’m talking about. He developed a digital product based on something he knew — dating advice for men — and generated six figures from it. Since then, he’s had one extraordinary success after another, all via digital products.
He has a video up in which he describes his story, and then helps people figure out what digital product they might create based on their own knowledge. If you think you don’t have any specialized knowledge, think again — you’d be surprised at the kinds of knowledge people will pay for. He also gives you a PDF worksheet to walk you through the process of conceiving just the right product for you.
Now it’s true, you have to hand him your email address to watch, and some people won’t do that. I get that. But given the sleazy people in the personal development/wealth creation niche, Eben is truly one of the good guys, and someone I listen to closely. If you’re so inclined, check it out, and see if there’s something there for you.
I had to be jolted into realizing the obvious thing I should have been doing; maybe mild-mannered Eben will do the same for you.