One of the least complicated online businesses you can start is a digital information product business. When people search online for answers to problems, what they often find are information products, such as an e-book or an app, sold by an internet marketer. Look for recommended books on selling information products at the end of this post.
What makes this business model so great? First, a digital product is one that you can sell with virtually no overhead. You may have a little up-front investment and effort to create the product, but after the product is completed and online, you won’t have to invest additional money. You see, unlike a physical product, you don’t have to buy or make another product to replace the information product you sell. Make sense? There’s no inventory to store and zero manufacturing costs involved. Oh, and don’t forget, your product is digital, so you don’t have to pay for shipping either, just a few small fees (PayPal or Gumroad for example) for digital delivery. Boom! Do you see now why an information product home business is such a great idea?
There is practically no risk involved in this kind of home business because once you’ve created the product and set it up online, if you don’t sell anything right off the bat, you’re not out much. It’s not like you have a warehouse full of coffee makers that you can’t sell on Amazon, but Amazon still charges you for storage. Nope. You can run this business in your sleep and because it’s digital, the product will be delivered in the middle of the night if someone buys from you. And, you can create as many as you want to offer for sale, increasing your chances of making a nice income.
Now, no one is saying you’re going to make a fortune from selling information products, but some people have, so why not try? You could make a lot or just enough to buy something special for your family now and then. It’s up to how well you choose your niche and how you market your product. People will always be looking for answers to their problems. You can give them what they’re looking for in an info product.
What Kind of Information Product Can You Create?
Hopefully, you’re at least interested in learning more about this home business model. You know the basic concept, so now you just need to get an idea of what to create. Obviously, a digital product is not a physical item. There are several different ways to go, some easier for beginners than others.
Most people think of e-books when they think of digital information products. One of the main advantages of an e-book is that they’re just so easy to create. Basically, you just write your content in a Word document and then convert it into PDF format. If the idea of writing content causes you to freak out, don’t worry, you can always freelance the job out and have someone do it for you for a low cost.
E-books containing helpful advice and solutions to problems are what people want, so they typically sell well. They offer ways of improving lives or teaching a skill, so their value is built in. Buyers are drawn to the emotional element of getting their problem solved and will buy.
However, to be honest, there are a lot of e-books on the market, so you will have some competition if you go into a niche that is highly saturated. But, if you truly offer a solution to a real problem and you present it in a professional way, you will stand out among the many, many digital sellers that do just the opposite.
Video Tutorials and Digital Courses
Much like e-books, videos and courses solve a problem or teach a skill. There are different methods of delivering videos and courses. Some come via email in several emails delivered over a few days or weeks, while others can be downloaded instantly. Courses can include just one how-to video or a very comprehensive package containing several videos, an e-book, checklists, graphics, audios, etc. Multiple types of media in a course package increases the value of the product and makes it far easier to sell.
Creating a course or tutorial in a large package takes more time to make than an e-book, but you can ask a higher price point because of the large amount of media included. A wise decision would be to start out selling e-books in your niche, establish yourself an as authority, and then start selling courses. There are many other kids of digital products that you can create and sell, but for the beginner, the two mentioned here are a great way to start.
Starting a digital information product home business is a low risk, easy to start way to make money. While you’re learning the ins and outs of the business, you will also learn new skills that will help you build and grow.