18 Jul 7 Signs You Are Ready to Create a Digital Product

Creating a digital product that you can sell over and over is always a good idea, but here are 7 signs that you are 100% ready to create your digital product (even if it doesn’t feel like it yet)…

1. You are reliant on 1 or 2 streams of income and if one of those dried up, you would be in financial danger.

I can relate to this one as I’ve lived on the financial ledge for a long time when I was a single mom with no child support and totally dependent on my 9-5 salary that barely covered my expenses.  After I left my corporate job and started my own business I was able to create multiple streams of income that bring in money 24/7.

2. You are doing “service” or done for you work and you are exhausted, burnt out and overwhelmed.

Years ago when I hired my first business coach he took me from a struggling online business owner to doubling my income and making 6 figures by creating done for you packages for authors.  My programs were selling and I loved it until…I started to get burnout on done for you work.  One time my coach asked me how much I had to charge so that I wouldn’t dread getting a new client.  I raised my prices and started taking less done for you work and doing more self care.  Eventually I created some digital products so my income wasn’t attached to my time.

3. You have a full calendar for months on end.

It can be so exciting having a full calendar but it can also be stifling.  I love freedom and that is my #1 value in life so having a full calendar sounds good financially, but then I would be tied to my computer.  Having a digital product that sells 24/7 can give you the financial freedom and time freedom you desire.

4. You want to help more people than you are currently helping.

When I was doing service work for years I was only able to help about 24 clients per year.  That was my capacity unless I wanted to hire a big team (which I did not).  I also wanted to help more people so I created digital products that can reach hundreds and thousands of people anytime.

5. You have a goal or dream and you can’t achieve it without more income.

Maybe you want to travel the world, or buy a new car or home, or take a year off – whatever your goal, your current income won’t cover it.  Having a digital product would help you reach your goals and dreams.

6. You want to work less or not at all.

I don’t know your situation but I know when I was a full time Paralegal for 17 years I didn’t have a lot of options as the sole provider of 3 young children.  Of course, I wanted to work less (or not at all), but I couldn’t afford to.  Luckily as fate would have it, I was given the pink slip at the law firm I worked for and that was my ticket to freedom.  I started my first online business in 2005 and never went back to a corporate job.  Having passive income by selling digital products brings options and more freedom.

7. You have people asking you to teach them something you are an expert at.

This actually happened all the time in my business.  I would learn a new skill and people would ask me to help them with it or teach it to them.  That’s a big sign you might want to consider creating a digital product when you get requests from other people that need help.

Some of the excuses I hear when it comes to creating digital products are things like “I’m not an expert yet” or “I don’t have an audience.”

Would you rather learn from someone who is 100 steps in front of you or just a few steps in front of you?

I’ve taken courses from people that were making millions of dollars and it wasn’t what I needed at the time because there business was at a much different place than mine.  I love learning from people who are just a few steps ahead of where I want to be.

If you don’t have an audience, that’s okay.  With today’s technology you could build an audience in about 30 days.

Once you are clear on your ideal client/student, then it is easy to build an audience on social media or other organic methods.

If I had not taken a leap of faith in 2005 and started my first online business, I would still be working my 9-5 job living paycheck to paycheck.

What could having $100K a year do for your family and your life?  That’s what my latest online course brought in the first year.

• If you haven’t read my #1 bestselling book, Course Cash Cow, you can check it out here.
• If you would like to get on the waiting list when my new program, “Course Cash Cow” opens up, click here.