One way that some people earn real money online is by creating their own product. I’m going to be honest here, however, and say that product creating is not (yet) my strong suit. Usually folks will get into freelancing or affiliate marketing first, because it is easier to make money in those business models than it is in creating your own product. However, if you have an idea that is just burning a hole in your brain and you’ve got to get it out right now, then let’s talk a little bit about creating your own product.
What types of product do you want to sell online?
Optimally, online sales are the perfect venue for digital products, products that can be streamed or downloaded by the consumer. Some people will do physical products, but when you start talking about physical products then you have to consider supply and demand, warehousing space, packaging, shipping costs, etc.. While physical products can be very lucrative depending on the markup from wholesale to retail, the other aspects of a physical product for sale can become overwhelming quickly if you are unable to scale your business.
In my personal opinion, digital products are the way to go for many reasons. Not only to you not have to have any physical inventory on hand, the customer can download the product immediately after the sale. This feeds their need for instant gratification. In addition, digital products have no expiration date (although some, like ebooks, should probably be updated from time to time), no packaging or shipping costs. It’s really a thing of beauty, when you think about it. And with modern software that is freely available to anyone, literally anyone can create an ebook in PDF format today (I’m working on one of my own!).
How can I take my idea from scratch to realty? Where will I sell it?
Taking your idea and creating a product out of it is where the rubber meets the road. It’s no longer just an idea in your head, it becomes real. Depending on the type of product, there could be a lot of things to consider when bringing your idea to fruition. Design, implementation, review, re-design, processing, complete product … those steps fit with almost any product creation, whether it’s a digital product or physical product. But, like I said earlier, this area isn’t y strong suit just yet. I’m only now developing my own information based digital product to sell.
So here’s an idea … let’s set sail on this adventure together, shall we? As I develop my product (an ebook at this point), I’ll share with you here on the website the various things that come up. You feel free to share in the comments your thoughts, concerns, or any special things that you run across in developing your product. What do you say? This can be our first collaboration, of sorts.
Who knows? Maybe we could end up working on a project together one day!