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5 Reasons to Start a Digital Product Business

End your retirement anxiety.

If you’re looking to fund your retirement by starting a business, then a digital product business might just be right for you.

Once you have it set up it can generate genuinely passive income for you.

Digital products exist solely in a digital format.  Many of these are new products did not even exist 10 years ago.  For example, they include things like eBooks, webinars, e-courses, crossword puzzles, grocery lists, magazines, travel guides, specialized software and of course, the big seller, computer games.  Digital products offer perhaps the best business opportunity of any type of product right now, so read on to find out what makes them such a great choice for providing you with income in your retirement.
Low Overhead Costs

The low or even no cost of overhead to get into a digital product business is ideal for someone nearing retirement or retired.  For most, heading into retirement with a significantly reduced income does not permit spending a lot of money to start a business.
Digital products have very little, if any overhead.  Initially, when starting a digital business you may have to purchase a few items, like an up-to-date computer, headphones, recording equipment, or camera.  These are non-consumable items, so once you have purchased them you can use them over and over.  These are one-time costs.

However, once that initial stage is over and your digital product is online you will be able to sell as many copies as you want with no increase in your costs.  Hundreds or thousands of downloads can be made by customers with no additional cost to you.

Depending on your product and pricing model you should be able to recoup the initial costs quickly. Once that is done,  all your sales are essentially 100% profit.

No other business can offer you the opportunity for passive, profit making over the long haul, that the digital product business can.

Passive Income

A digital product business can permit you the time and energy to enjoy your retirement.  Once products are are online, you can take time off.

Digital products are being purchased 24/7 on the internet, with no expiry date.  It’s always daytime somewhere on earth.  With billions of people on the internet, there is always someone looking for your product.

Of course, some digital product entrepreneurs also offer some services to go along with their digital product.  This could be consulting services, speaking, one-on-one training or coaching.  This can reduce your time freedom, so you need to decide how important that is to you.  With modern technology you can conduct a lot of services online that do not require face-to-face contact.

The trade-off in the beginning is that it does take time to write courses, produce audio books or prepare training manuals.  But once that is done you do not have to be available constantly.  You may even get some traveling in.

A digital product though is truly passive. Once you have it set up online you can make money while you sleep.

No Inventory

With a digital product absolutely zero space is required for inventory.

It may mean extra gigabytes on your computer or in the Cloud, but you won’t notice.  You don’t have to rent a warehouse.  You don’t have to worry about shipping.  No postage is required.  You don’t have to turn your dining room into a distribution facility for books.

Best of all, you don’t need to have a system for damaged goods being returned.

Little or No Investment

Little or now investment funds are required.
It’s just like for overhead.  You many have to upgrade your computer or buy earphones, but you do not need to borrow money from friends, get a bank loan or take a mortgage on your house.

Therefore you can break even earlier and stray making a profit sooner.
No Distribution or Delivery
Once you have your digital product positioned online, you’re done.

No distribution and commissioned salesmen headaches.  No worries about replenishing stock.  People download your products on their own.  You don’t even have to be there.

 

RESULT:  If you are anxious about having sufficient money to live on, or being able to maintain your standard of living in your retirement consider a digital product business.

 

 

Follow our website in the next few weeks to learn more about how to select your digital product and start your own digital product online business.

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