I put off releasing my Business Analyst Template Toolkit for over a year because I thought people wouldn’t pay for it. You see, there were loads of free templates on the market and several competing products, why would people buy mine?
Today, I sell digital products day in and day out, and this product is a consistent top-seller. It has been a main source of passive income that has literally changed my life. Even two years later, with very few adjustments, it still regularly brings in at least a couple thousand dollars each month.
While I was seeing free and competing options, my customers were looking for my option. And they were willing to pay for it.
Part of the lesson in this story is that people will pay for things that we won’t pay for. My coach Gary Barnes has told me this hundreds of times:
Laura, that only seems obvious to you because you’ve been doing this for a long time. If your customers are asking for it and you have the answer, give it to them.
Still, I resist.
You might find yourself in a similar situation, doubting the value of the expertise you have and how it can get wrapped up into profitable digital products.
Another version of this conundrum is when you decide to add one more piece after another to your digital product, just to make sure it’s really valuable and will actually sell. This kind of digital product sits on your hard drive collecting dust, when it should be on a download server collecting you money!
Here are some signs that you can sell digital products:
- People ask you for this product directly.
- People ask you for this product indirectly. They might not know that they need exactly what you are planning to offer them, but you can make a direct connection between the advice they ask you for and how they can use your product.
- There are competing products on the market. That means someone, somewhere is making money selling something similar and that there is a buying market.
- You see people struggling in an area and you know you can help them at least get started solving their problem.
Your products don’t have to be perfect for everyone to be perfect for someone. And just because you wouldn’t pay for it doesn’t mean someone else won’t. In fact, the very idea that you wouldn’t consider paying for it is a great sign that you have special advice or expertise to offer in the form of a digital product.
How’s that for a twist ending?
Sell Digital Products
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