Grow Your Impact and Revenue by Adding Digital Products to Your Offer Lineup
Episode 918: Show Notes
During today’s episode, I’m digging into how you can use digital products to grow your impact and revenue. When I started on this road, I really didn’t understand what it could mean for my availability to work with more people and make a bigger difference in the lives of my clients. I loved running my design agency, but so much of my income was entirely dependent on my clients’ needs. It felt like I had switched from having one boss to having many bosses!
I made a good living running an agency. I built that into a multi-six-figure business. But with THIS business, I have been able to bring home multiple millions of dollars in revenue. It has completely changed my life and my financial future. I’m super glad I started it so long ago! If you’re sitting here wondering if this is something you should be doing, the answer is probably yes. It allows you to take control and to grow in ways you never thought were possible.
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How Digital Products Changed Everything for Me and My Team
Running a digital product and course-based business is an absolute game changer. It allows me to serve multiple customers simultaneously without increasing my workload much at all. I could add hundreds of clients before it starts impacting my team! We are serving over 1000 clients, and realistically, at the scale we are at, we could serve two to three high-end clients. That multiple is insane. I went from having four to five client calls and discovery calls per day to having five to seven meetings a month inside this business.
Why the Digital Product Industry is Growing More Rapidly Than Ever Before
People are looking for more alternatives to education than they ever have before. Online options are increasingly popular because they allow you to decide when and where you invest your time and attention. The industry is projected to grow into a $325 billion industry by the end of next year. There are two types of digital offerings, and for you to succeed, you need both. The best entry point is to develop entry-level digital products. Then, you can build into high-impact offers: full-fledged online courses, memberships, and coaching programs. But building this kind of business takes time.
The Offers I’ve Built Since I Started
When I launched my first digital product for $29, I had no idea it would reach as many people as it has. That one offer made $8033 in its first month. It has gone on to make $ 288,000, with more than 10,000 people using it. I have since built hundreds of offers! You never need to build as many offers as I have, but you will need a handful, and you may want to layer in diverse types of income. I get paid through being an affiliate and get brand partner income through sponsorships and special events. And I also get paid outside of my business through my investments.
How to Avoid the Biggest Mistake People Are Making
I love how you want to share everything with your people! You want to share all your knowledge with others. But the biggest mistake people are making is they try to turn all of it into one product. Will it sell? Probably, but it won’t sell as many times as it could. It will absolutely devalue the knowledge you have. Entry point digital products should solve one problem completely and well. What questions do your clients ask the most? What problem can you solve quickly in a digital format? If you want help on this specifically, I have an episode dedicated to helping you decide on what offer to choose.
Launching Your Digital Product in Just One Day
Once you’ve decided where to start, I really want to help you do that! Digital Product Jumpstart is all about getting you off the fence. For service providers, this is an opportunity to fill the gaps. Whether you want to do it so that you have a surplus of cash for slow periods or just layer it on as an opportunity for scale, this is a great thing to do. When it comes down to it, after we build this thing, your primary job becomes marketing and sending traffic to this offer. You can decide how to support it on the back end, but you will have already done the heavy lifting. Because of the time this has freed up for me, my ability to give back to my community is stronger than it’s ever been before.
Where So Many People Go Wrong (And How to Make Sure You Don’t Follow Them)
You don’t have to drop everything to start building a digital product. Most people still need an income from their existing clients and I want to help you to do both. I also see so many people skipping the important step of finding market validation! I want to ensure that your product is going to sell and we do that through a presale process. Another thing you absolutely can’t afford to do is to ignore marketing and distribution. Visibility is the biggest shift you’re going to see.
Coming from a space where it’s not necessary, but it’s going to amplify what you’re doing and allow you to impact more people is so much more fun, creative, and fulfilling. If you’ve ever felt stuck, like you’re trading your time for money and it never scales, digital products are your opportunity to keep growing without burning out. End of story. If you’re ready to start building your first or your next digital product and you want help getting it out the door quickly, then you need to go to register for our free One Day Launch challenge.
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Digital products are your opportunity to keep growing without burning out.
Highlights
How Digital Products Changed Everything for Me and My Team [0:06:58]
Why The Digital Product Industry is Growing More Rapidly Than Ever Before [0:12:29]
The Offers I’ve Built Since I Started [0:15:59]
How to Avoid the Biggest Mistake People Are Making [0:18:18]
Launching Your Digital Product in Just One Day [0:20:38]
Where So Many People Go Wrong (And How to Make Sure You Don’t Follow Them) [0:27:41]
Key Topics:
Scaling, Digital Products, Business Strategy
We Mentioned:
Talitha Coffee helps support survivors of human trafficking
Indeed.com/STRATEGYHOUR for a $75 sponsored job credit
