A Simple Step By Step Process For Transforming Your Knowledge Into A Digital Product

Most people think that it is impossible to build a sustainable online business up to $30k/mo by selling a $27 digital product.

Now, I don’t blame them.

I was one of them many years ago.

The main reason for that is because of how we’ve been conditioned.

If you've been in the space for a while now, you’ve probably heard some of these misconceptions:

If you want to build a successful online business you need to:

• Have a huge audience (personal brand)

• Sell a high-ticket product or service ($3k+)

• Have a marketing budget of at least $5,000 to get started

• Have a sales team in place

• Hire appointment setters

• And more importantly, you need to constantly work 10+ hours a day

Now, that’s probably true if you want to get to $100k or $500k/months.

But if your goal is to get to your first $5k to $10k or even $30k/mo, you don’t need any of that.

Now, you might be wondering, so how is it possible and how can one do that?

Well, let me explain.

As complex as this might sound, starting a knowledge-based business is a pretty straightforward process - simple, not easy.

Step 1: Audit Your Knowledge

The very first step in the process is to audit your knowledge.

Think about what it is that you have (knowledge, skill, passion) that could be valuable for someone else.

It could be something that you already do to provide services to your clients.

Bonus tip: Reflect back on the courses and products you’ve purchased in the past. They could be related to design, copywriting, cooking classes, etc.

Remember, your expertise and knowledge will form the foundation of your business.

Step 2: Create Your Customer Avatar

The second step would be to create a customer avatar.

In short, this is the profile/characteristics of the person you’re going to help.

And to be fair, in most cases the best customer avatar is yourself 2-3 years ago.

Reflecting back on one or more struggles, pain points, and desires you had a while ago will help you understand what your customer avatar is currently going through.

Take a minute and write all of that down.

Step 3: Digital Product Idea Generation

The third step of the process is to start generating digital product ideas and solutions to your customer avatar’s problem.

For this step, I use a simple 3-step question process:

1. What does my customer avatar need help with? (What’s their problem?)

2. What do they need to solve the problem?

3. Do we solve this need? If so, how? Through what type of products?

This is one of the quickest and easiest ways to start generating product ideas you could potentially sell.

To help you get some ideas going, here are some of the “most popular” digital products you could pack your knowledge into:

• E-books

• Online courses

• Membership sites

• Webinars

• Workshops

• Mini coaching programs

In most cases, this type of product will require you to position yourself as an expert. However, if you would prefer to sell them anonymously, here are some other products which you could sell in a faceless way:

• Templates and checklists

• Swipe files

• Spreadsheets

• Graphic elements

• Printables

• Audio files (like guided meditations or soundtracks)

Remember, the most important thing is to ensure that the digital product you choose is a perfect fit for your customer avatar's needs and can truly solve their problems.

Once you've identified a product idea, the next steps would be creating, marketing, and selling it.

So there you have it.

The 3-step process for transforming your knowledge into a digital product.

Whenever you're ready, there are 2 ways I can help you: