In a previous post, I gave you 5 unexpected ways to create a digital product out of something you already have, and I hinted that a great place to start would be to repurpose a service you currently offer in your business.
I also shared a nifty fast-action guide to help you do this, which you can download below:
But, just in case you are still on the fence about this approach to creating a digital product, I wanted to share with you 5 reasons I think a great place to start a passive income stream is to turn your service into a digital product:
1. You already have everything in place! Whether it’s your messaging, copy, systems and processes, or social media posts – the ins and outs of this service is going to serve as the foundation of your new product. With most of the groundwork already covered, all you’ll need are some clever tweaks, and you can have a digital product ready to be launched in a fraction of the time it would have taken otherwise!!
2. Anyone can do this! You don’t have to be running your own business to use this method of digital product creation. Any transferable skills you have to offer, can be repositioned as a digital product. All you’ll need is some focus to get really specific about your idea, and with a bit of guidance you could be hearing that ‘ping’ of another sale being made while binge watching your favorite show on Netflix!
3. You are comfortable in your niche. I’ve had so many people reach out to me for advice on creating a digital product but the number one thing that prevented them from actually following through with their idea was self-doubt. Starting something new is scary! But, if you are comfortable with your niche and know your ‘stuff’ you will feel confident about your offer, giving you that extra motivation needed to move toward the finish line – launch day!
4. You are already helping people with your existing offer. This means that you have the expertise – a great selling point for any new offer. But, more importantly, your new offer has been validated so you know there is a need for it and that it will sell! When creating a new offer, a lot of time goes into the prep work of researching and validating the idea to make sure you don’t spend time and energy creating something that there’s no need for. Turning your service into a digital product means you’ll be able to cut all that out and get your offer launched even faster!
5. Your offer has the potential to grow! As you continue to gain experience through your service, you’ll also continue to find more ways to improve your digital product offer or even expand on your original idea to create new offers. This means you will have room to grow your passive income stream and, therefore, increase your overall earnings!!
Seem like a pretty cut and dry solution, huh?
Whereas before, you’d probably be floundering about trying to come up with a new idea, then you’d need to validate the idea and proceed with the gruelling process of creating, marketing and launching a new offer; now you could have everything set up much faster!
All you need is to take action!
So let’s take a closer look at how you can do this in 5 simple steps…
The 5R System to turn your Service into Passive Profit:
👉 Step 1: Review current offer
Take a look at your signature service you’re currently offering in your business and break it down to see exactly what goes into completing a project. Take note of tasks you enjoy doing and the ones you know your clients love about working with you on their projects!
👉 Step 2: Rework current offer
Do a bit of tweaking to turn your service into a digital product and choose a format for this new, low-touch offer. The key here is to focus on everything you already have in place, and work from there to identify an idea that you can bring to life FAST.
👉 Step 3: Realign current offer
Dig into the messaging of your service and realign it so that you now speak to your new audience – the customer who will be buying your digital product. And, because you already have copy and content in place to sell your original offer, you’re halfway there!
👉 Step 4: Repurpose and reuse
Repurpose your content and any material used in the process of your service so that it adds more value to your new passive offer. No more pumping out 5 blog posts a week. No more writing content that does not move you closer to your sales target!
👉 Step 5: Repackage as new offer
Get your digital product ready for launch day by completing everything you need to promote and deliver your new offer to your audience!
You see, this really doesn’t have to be so complicated.
But it does require ACTION on your part!
So, go grab my totally FREE fast-action guide and let’s make this happen for you! (Hit me up with the launch date of your offer!!)