When it comes to building your a product catalog, the most common mistake I see is that the creator falls in love with 2 or 3 or 4 digital product ideas and so they start to work on all of them instead of focusing first on quick wins.
As a result, they make a little progress here, a little progress there. When they get stuck on one product, they shift their attention to another. Then a new inspiration hits and they flow with that new energy for a little while.
All this work feels productive and exciting, but nothing ever gets done. Nothing ever gets out into the world where it can help someone. No passive income is ever generated.
By selecting one product idea at a time to work on, before shifting your energy to the next idea, you will build out your product catalog more quickly.
Start by focusing on quick wins
Quick wins are your high value, low effort ideas. Quick wins will ensure you see almost immediate results from your efforts, which will motivate you to keep on creating.
A high value idea is one that you feel has the most potential to sell, because they meet needs of your customers. Examples include products potential customers actually email you to ask for and urgent needs you see pop up from members of your community.
A low effort idea is one that you are confident you can create fairly quickly. Quick is relative, but if you can find something you can create in less than a month, that’s perfect. If you have a starting point, like an outline, a template, or a collection of raw files to start with, that product will also be quicker to create.
To find quick wins, go through each idea you are considering and conduct a quick assessment of it’s potential value and potential effort. Draw out the high value, low effort ideas to start from.
Most likely, only a handful of the ideas you have will be quick wins. From there, pick the idea that has the most energy for you or you feel drawn to for some reason to start working on.
When in doubt, pick one quick win and get stared
And here’s the thing. As long as you start small, you can’t really go wrong with your choice. Your first digital product will most not likely be your last. You are not saying “no” to your other ideas, simply “not yet.”
What’s more, once you have a few quick wins under your belt, you might be ready for a bigger, more work intensive product, and have the cash flow to support yourself while you build it.
Create Your First Digital Product
To learn exactly how to find and implement your profitable digital product idea, check out the Digital Product Workshop. It’s self-paced and available for immediate online download. You’ll leave the workshop with an implementation plan for creating your first digital product.
Click here to learn more about the Digital Product Workshop