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Essay / Digital Product Business Models - 2557
He made sure they had a fresh copy of the day's paper to read while he drove them. He offered them a cup of hot chocolate or a bottle of water. Carried their luggage in and out for them. In no time, he quadrupled his income and was so busy that we could only get him by appointment a week or two in advance. I also read a similar concept in a children's book about a lemonade stand. Apply the principles to become a big fish if your desire lies in the service industry. Digital products: these are semi-tangible goods because they exist in digital form. Strengths: There are many business models that digital products are highly compatible with and it can provide many different ways, very quickly, for people to access your message. You can create them anywhere, at any time and they are the easiest and cheapest to create. The only thing you need to invest is your time in creating your product... and even that can be outsourced if you have the money to spend. You can spend money on high-end tools and products (which is my favorite thing to do) or just use free software to get the job done. You only have to create a digital product once, then each time it is purchased, it is automatically reproduced, giving it unlimited income potential. You keep almost 100% of the sale as revenue since there is no inventory (minus credit card processing fees). If you want to update your product, simply make the change, re-upload it and you now have "version 2.0" as your sales feature. Weakness: The downside is that there is a slightly lower perceived value than many of their physical counterparts. There is also a higher hacking potential here. Thoughts: For me, hacking is another way for people to learn... middle of paper ...... intro, outro or background music, this is the resource I use when I don't have a talented colleague around me. tpip.biz/creationresourcePlus kind of an FYI thing, from the writing phase to completing an audio product of a few hours, it takes me about a week if I'm looking for top quality, lots of editing and that I do everything myself. A day or two to write scripts, one to record and a few more to edit. Editing goes down considerably if you follow my previous advice, especially not to edit too much. Finally, personal confidence adds a lot. Have fun! Unfortunately, I'm sure some of you won't want to let the world hear your voice. My suggestion for you is to hire inexpensive voice talent from sites like upwork.com, eLance.com, Fiverr.com and even craigslist.com (hint: you might find some closer to Hollywood on craigslist).