Dreaming of building digital revenue into your business and stop trading allllllll your time for dollars? 🙌 Welcome to the land of passive profit my friend! In case you love the idea of passive profit, but feel completely LOST on what kind of digital product to create, I wanna share 3 questions to ask yourself to help spur on your next genius idea! Press play and let’s work together to figure out the perfect digital product idea to sell online!
I want to answer one of the most popular questions I get around creating digital products. And that question is how do I figure out what kind of digital product that I could create?
3 questions to answer to figure out the perfect digital product idea to sell online
I want to share three specific questions that I would ask you if we were sitting down one-on-one to help you figure out and get inspired on what you could create as a digital product of your own to start building some passive profit into your business.
01. What is unique about you?
First up I would ask you what is unique about you? Do you have a unique story? You can tell maybe about an experience that you had in your life that’s really unique. Or maybe you have a special talent or a skill?
To kind of help you through this exercise, I’m going to share about my husband’s journey. He is currently working to create a digital product to help other people who want to learn how to invest in real estate and build long term wealth through that avenue.
What is really unique about him and his story and real estate is that we own 4 residential real estate properties but when we were doing the investment process, we were not rolling in the dough. Our first five even more years of marriage, we were averaging about 76,000 dollars after taxes together collectively.
We had a lot of life changes going on in our first five to eight years of marriage including Jeremy getting a new job. That was a 100% commission based and it took him over a year to actually start making money in that job. So that entire year he was making like a dollar an hour.
But when you were talking about investing in real estate, that’s not the typical storyline.
A lot of times people have much more money laying around more cash flow or capital in order to get involved in investing in real estate. But Jeremy learned how to leverage the system and we were able to start investing in year one of our marriage– into real estate and now we own enough rental properties that it is going to take care of our retirement for the rest of our lives.
So that’s a unique story about Jeremy in the sense that he built this portfolio of properties without having tons of cash flow.
Maybe you have a unique talent or unique skill, or maybe you have unique likes that are different from what you’re seeing other people. Like for example me. I am a big color lover. So if you were to explore my website, website templates, you’ll see that my whole website as well as the templates that I sell are geared towards color lovers.
That’s something unique about me and my products that I offer.
02. What do you know a lot about?
Second question I would ask you is what do you know a lot about?
In Jeremy’s example:
- He worked as a commercial real estate broker. So he understands how real estate works and actually the transaction of real estate.
- Jeremy has a bachelor’s degree in construction management. So he understands the rehab side of buying and flipping properties.
- He worked in mortgage underwriting. So he actually has real-life experience with serving people who are trying to buy a house and need to get a for that house.
So Jeremy knows a lot about real estate is and now he has real-world experience because we did this whole process ourselves.
Stack your unique factors and know-how together
Now I want you to take what you’re unique in and what do you know a lot about and see how you can start stacking those two answers together.
Jeremy has a unique story that he got started in investing without a lot of time cash flow coming in and he has a lot of real-world experience in the real estate world. When you stack those things together, it’s clear that he could create some sort of digital product that helps people learn how to get started investing in real estate and specifically using his unique story helping people who don’t necessarily have a ton of upfront cash.
When we stack those two questions together, we start to see there could be a digital product potential here to help someone get a similar result that we have.
I would have Jeremy go searching for Real Estate education and investing education and start taking a look at what is being sold online.
Not for the goal of copying and not for the goal of trying to find out what’s going on so that you can emulate what’s going on.
03. What is missing from the market?
But for the goal of figuring out what is missing from the market that’s question 3, what is missing?
What do you see that you could fill with your unique talents skills or experience as well as what you know a lot about to fill the market gap with?
The first thing I like to look at when I am searching for market gaps is a potential person who is left out of the conversation.
In Jeremy’s example, when we went searching for investing in real estate education, there’s a lot of answers and programs and PDF guides and lots of different types of products from memberships and more that help people learn how to invest in real estate, but for the most part those programs and offerings are speaking to somebody who has extra cash laying around to do the traditional model of investing with a big upfront payment.
There is somebody though that’s left out of the conversation. And that is how do you get started in real estate when you don’t have a lot of cash sitting around to put a large sum of money upfront into these investment properties??
Ding ding ding!
Jeremy’s unique story is that he built a portfolio of investment properties without a lot of cash. We quickly saw that a person similar to us was being left out of the conversation. This is something that’s unique about Jeremy and his experience and his story. He knows a lot about this and there’s other people just like us that are being currently left out of the conversation in terms of the educational products available.
The light bulb went off that maybe we’re on the right track.
The second thing I look at is what types of products are currently on the market.
Can you fill a need with a different type of product? Maybe there’s a membership program out there with a similar sort of concept and promised result that you want to create, but can you show up and deliver a different type of product? Like a course that someone could take quickly and easily digest that information.
Look at what’s going on in the market not to copy but to figure out how can you stack what is unique about you + what do you know a lot about with what is currently missing from the market that you could potentially put your unique experiences and know-how into to create something that is fresh and new and really true to you!
Get help figuring out your perfect product
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