Master Your Trade
... And Watch Your Digital Business Skyrocket To Success
To make sure that your digital business will stay strong, grow big, and be profitable, you should master your trade.
It doesn't matter which business model you embrace. It doesn't matter which niche market you enter. What is important is that you become a master at your trade - and present yourself as one.
In earlier sections of this course, you’ve heard about other elements of how to start a digital business online.
HOW TO START A DIGITAL BUSINESS : TABLE OF CONTENTS
This report is part of a collection that covers all aspects of how to start a digital business online. To see others in the series, explore the links below:
Now let’s discuss how to master your trade.
But…
What does this even mean?
Obviously when you're just beginning, you won't know much about several aspects of how to build a digital business.
So whatever you create will be somewhat basic, unpolished, even crude and shaky in parts.
That's okay - when you're starting out.
But quickly you should be able to learn the essentials, and improve each element of your business - so that very soon you'll run a smooth, slick, seamless digital enterprise.
You don't have to invest a lot of money upfront. But you will have to spend time and effort understanding what to do - and then be prepared for some 'trial-and-error' tests to implement your plan.
Gradually, one step after another, you'll grow better and better. And then, at a certain point, you'll be a master of your trade - and everything you do will be professional and impressive to your audience, clients and competitors alike.
Now if this all sounds nice but fuzzy and confusing, I understand.
Let's try and use a concrete example or case study to explain it better.
Imagine that you've decided to pursue the direct selling model with your digital business, and are going to sell infoproducts online.
How would your professionally-run business look like?
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1. PRODUCT
First, you'll need a product to sell.
In this case, it will be a digital infoproduct. You may either create one yourself - or purchase the rights to sell one somebody else created.
To create an infoproduct, you will have to figure out:
what it will be about
what problem it will help solve
who has this problem
where does this audience exist
2. TYPE AND PRICE
After determining the broad outline of your digital infoproduct, you must decide what kind of product it will be - and at what price you will sell it.
This is because your infoproduct itself will vary based on whether it is
an ebook
an audio recording
a video stream
a multi-module program
a live event
or something else
Also, your proposed price will drive how much value and depth your product will have.
A $10 infoproduct might only need to solve a specific problem, or teach a specific skill.
But a $50 infoproduct might set up bigger expectations in the mind of a buyer, who thinks the higher price means much more value or a comprehensive guide to a complex issue.
3. COMPONENTS
Your digital infoproduct may be simple or complex. It may be basic or elaborate. It may offer only content, or also redistribution or resale rights or licences.
Depending on how many components it will include, the production and sales process of your digital business will vary.
4. PROFIT MODEL
The beauty of digital infoproducts is that there are multiple options for a business to profit from them.
On the surface, there's a simple 'direct selling' profit model - where your client pays before downloading an ebook or other infoproduct.
But behind the scenes, there are other possibilities.
You could toss in a few product or service endorsements within your infoproduct - and if someone orders from the link you insert, you can profit as an affiliate partner.
You could offer many other related products and services as an 'upsell' from within your infoproduct - and earn a profit from any sales that result.
You could insert advertisements for other businesses within your infoproduct - and get paid by them for the privilege.
You could offer more advanced training, niche solutions and advanced mentoring to complement the value already offered by your infoproduct.
All of this could extend and enhance the profitability of your digital business.
Planning all of this right into the creation and design of your product can boost the value and profit of your digital business.
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5. PRODUCTION
With traditional physical products, for this step you might need expensive steps like building a factory or investing into raw materials.
But producing a digital information product is less complicated - and less expensive.
What's nicer, the cost of duplicating a digital product is almost zero. So once you've designed and produced an ebook, for instance, you can offer it for download 500 times - at practically no added cost!
Bonus Cheatsheet: Click Here to Download "Master Your Trade" (PDF Version)
6. MARKETING
To sell your digital infoproduct, you will have to find your ideal clients - and make them an irresistible offer.
This takes some knowledge about your audience and niche market. You must find out what moves prospective buyers to take action. You have to understand their biggest problems and areas of pain that they want to ease.
After this, you should present your solution in an effective and compelling manner - that convinces your typical buyer that your digital infoproduct offers the key to solving their troubles.
All of this takes some background research. The good news is that once you've gained this knowledge about your audience, you'll easily
come up with ideas and ways to help them with other problems, or
add value in some other areas, or
entertain and inspire and inform them in several more ways
7. ADVERTISING
After everything is in place, you still have to spread word among your prospective buyers - and let them know about your product.
That means you must advertise.
Your advertising message will have to be crafted, and tested. It will need to be tweaked and changed until it appeals to the right kind of shopper.
You will experiment with many different avenues to display your ads, to see which attracts the best responses.
You'll try out different media and designs and channels to come up with winning ads that lure in buyers.
And with constant testing and improvement, you'll be able to run ads at an affordable cost which generates enough sales to turn a steady profit.
8. PARTNERSHIPS
By negotiating partnership arrangements with related businesses, you can then extend the reach of your offer.
You might set up an affiliate program for your digital business which rewards people for referring sales of your infoproduct - by paying them a share of your profits per sale.
You might also run joint venture promotions with mutually beneficial businesses, where both sides grow through strategic partnerships with your respective clients and audience.
Whew!
Look at how far we've come from the idea of building a digital business in 2024 and beyond.
These steps - and several others that can take your fledgling digital business towards warp-speed growth and skyrocket your profits - will all take time and patience to develop.
Rome wasn't built in a day. Neither will your digital business.
When you commit to mastering your trade, you are making a promise to yourself... that you will pay attention to learn each of these steps.
To implement each one with focus and discipline in your growing digital business.
To test and measure progress, accepting that some things will work - but others might fail.
All the while, you will be guided by the driving force that leads you towards the goals and dreams you set for your digital business.
Over time when you practice and steadily improve, you'll be mastering your trade.
And once you have wrapped your head around the component parts, you'll have built a sleek and smooth process for your digital online business - which will bring in sales and profit effortlessly.
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That point may be far off today. But you'll get there for sure... soon. Be patient and persistent until it happens.
All along the way, work to master your trade.
The principle is the same for every business model, for every niche market, for every kind of entrepreneur or venture.
Only the details differ.
Click Here to Download a PDF Version of all the articles in the "How To Build Your Digital Business - In 2024 & Beyond!" series
Whether you plan to follow a direct selling model, or a content publishing model, or a lead generation business model, you will have to learn how to master your trade.
To help guide you in the direct selling model, I'll gift you a special report that was created in response to a challenge - to teach an absolute beginner to digital business a system to earn $500 in a day by selling infoproducts!
This exclusive step-by-step guide will show you the exact steps to take along this path to an ambitious but achievable goal.
I once offered this ebook for sale at $97.00 - but you can grab yourself a copy for free.
Just go here. Register with your email for the free newsletter. And receive a bonus report called "How To Quickly Create Infoproducts That Make $500 In A Day".
If you'd like to master one of the other models of digital business online, visit the 'Tools and Resources' section of this guide.
You'll find links to other comprehensive guides (both paid and free) that will help you get started.