920 – Every business needs this: Tom talks Benefits of Digital Products

Episode 920 – Benefits of Digital Products
[00:00:08] Welcome to Screw the Commute. The entrepreneurial podcast dedicated to getting you out of the car and into the money, with your host, lifelong entrepreneur and multimillionaire, Tom Antion.

[00:00:24] Hey everybody! It's Tom here with episode 922 of Screw the Commute podcast. Today, we're going to talk about 11 benefits of digital products. And whenever I say 11, I don't really know for sure. It sounded like a good number. You have more than that for sure. I hope you didn't miss episode 919. That was the sneakiest way to sell. We're talking about advertorials is not underworld. It's not fraudulent. It's not a rip off, but it's made me a fortune. And I learned it from Corey Rudl back in 1996. All right, check that out. Anytime you want to get to a back episode, you go to screwthecommute.com, slash, then the episode number. The Sneakiest way was 919. And I'm also going to suggest that you notice episodes 178 and 529. There's more detail on digital products and helping your business with digital stuff. All right. So let's see what else. So grab a copy of our automation book at screwthecommute.com/automatefree and check out my mentor program at GreatInternetMarketingTraining.com.

[00:01:35] All right. Let's get into some of these benefits. Well, first of all, this is an extremely high profit thing to get into 97% gross profit, maybe, you know, percentage for credit card fees. Now the profit is just slightly less. If you have your own shopping cart and sell the things yourself, but you get way more money that way. So it's still highly profitable and much more volume money wise for you.

[00:02:07] If you choose to sell through other means, through affiliates, well, even with affiliates, you have to have shopping carts. So I meant to say through Amazon, places like Amazon Kindle. Now we don't mess with anybody but Kindle because the rest of them are tiny compared. And Kindle gives you a bunch of things that you can't get anywhere else that are worth it to you. So I wouldn't bother with any of the other formats. These are for digital products. Now you also, when I say digital products, I'm also talking about courses and things like that. And basically this falls into the category of intellectual property. And this is easier than ever to create. All these benefits are kind of get wound into my discourse here for you, I don't know. 11 1250 I don't know. So when you have intellectual property, that's an asset for you and your business and your family, and you can pass it on to others in your family, even though it's not printed, it's you don't have a another. You know, some of the other benefits is you have no printing, no shipping, no inventory. You're just selling electrons. And I tease people that, you know, if I get really good at that, I'll start selling, you know, protons or something, I don't know, but this is one of the lowest risk kinds of businesses to get in because of this.

[00:03:37] No printing, no shipping, no inventory. You can work from anywhere. Hey, it's even environmentally friendly, right? Because you're not cutting down trees to to make a book. Now, I'm not saying there's no value in books. There is. My job is to help you get a profitable business where you don't have to go to the dreaded j-o-b anymore. That's that's my job And another cool benefit of these, especially if you do PDF, is you can get as much money or more than four printed book for a couple reasons. One is that immediate gratification like I sold, you know, hundreds of thousands of dollars. Well, probably $1 million worth of wedding toast books because the drunk bachelor party people had to make a toast the next day. And they they were desperate, and they knew the bride would kill them if they messed it up. So they would download my wedding toast book or my wedding speech book for the, you know, parents and stuff. So it's really, really powerful. And there's loads of stories and, and there's I'm going to tell you about, you know, the typical ice cream shop. I don't I don't have a name for the exact ice cream shop, but you'll get the idea when I tell you about it. But every business on earth, everyone you can't you can't name one or stump me. That doesn't need a digital part of their business, and many of them survive because of the digital part of their business, even though they have a physical business.

[00:05:11] And so this is the ice cream shop example, where ice cream shops are very low profit. So you've got you have to rent a facility or buy a facility. You have to have refrigeration, you have to have the refrigeration, you know, refrigeration people keep the freezers going or you lose all your quote inventory which you have to pay for. You have losses, you have employees and salaries and insurance and utilities that are big because of the electricity to to run the freezers and all and the air conditioning and all, you know, all these things make it a tiny profit and you're stuck with a physical business which you have insurance, your liability if somebody gets sick on the ice cream, or if they slip and fall in your. I mean, so all of these things and I'm certainly not against business. I love the fact that these businesses exist. But guess what? It's not my job to teach you how to have a low profit business, right? And a dangerous and risky business. See, it's my job to teach you how to have the lowest risk, the highest returns, so that you can live your life like I've been doing forever. I never had a job. That's why this thing's called Screw the commute. Okay, so the ice cream shop. So you got all that bad side on the ice cream side.

[00:06:41] But let's say you got an ice cream shop and you're good at it. And people love your ice cream and all that stuff, right? But you're barely making a living. Okay, so you could make a how to make an ice cream cake book and well, another bad thing about the ice cream shop is you're limited in how far you can reach. A couple miles maybe. Or, you know, five miles or ten miles. I don't know what the standard is for ice cream shops. It depends on where they are, but it's definitely limited. You create this book on how to make an ice cream cake. You can sell it around the world. You can bring in money from people that would never in a million years give you any money, and it's 97% high profit money. Of course, if you have a shopping cart and a website and stuff, it knocks that down slightly, but not compared to the amount of money you could bring in from around the world. And then you could have the thing translated to different languages and even sell more of them. All right. So so you see what I'm talking about here. If you want to really be in business, be in a high profit, low risk business. See, because so many people want to be in business, but they never start because the start. Well, another big benefit of this is you already have everything it takes to be in this business.

[00:08:09] You've got a computer and you can you've got a document, you know, a word processor and you can convert to PDF. I mean, I don't know any computers on earth unless you're a wood burner or something. You're 1910 version that can't do those three things. And also now with ChatGPT, you can do all the research with it and and write most of the book. Now, I don't suggest that because I suggest, you know, I want you to be a high quality person, that not just putting out, you know, crapola. That could be wrong with ChatGPT, but I'm certainly not against you using it to research and, and and then you can use Grammarly for free to do the if you say, well, I can't write my grammar is not good. Well, it doesn't matter anymore. First of all, most people can't read anymore either. So it doesn't matter. And you can use Grammarly or something like that to clean it all up. If you don't want to hire an editor, you know, which, I have never hired an editor. One time I hired an editor, all right, for my big wake em up book, 300 pages. And that was back in the 90s. Nowadays, I don't even do it. So. So if you want to actually get into something that's high profit, low risk, you can do it as a side hustle to start. But my job is to make it too expensive for you to go to work.

[00:09:32] So after you start making money with this, to the point where the time you spend in it is way more valuable than going to work for your paycheck. And then you tell the boss, take this job and shove it. How about that? All right, so anyway, check out episodes 178 and 529. Screwthecommute.com/178 and /529. And also check out 919. That was the sneakiest way to sell. And it's totally legit, but get into digital somehow. Even if you're in a landscaping business or any kind of business on earth needs a digital part of it. I just could go on and on and on about what it's done for me. It's super high profit. Never had a failure because always the things brought in more money than what it cost to produce them. Always. And most of them, I mean, I have one book that's brought in almost $4 million and still brings in 5 to $15,000 a month. All right, so this is real and people love the immediate gratification. Download it. They can read it on their cell phones and tablets on the go. So people spend money on this stuff. So let's, uh, let me know when you create an ebook or if you need help with this, get in my mentor program. GreatinternetmarketingTraining.com and I will catch you on the next episode. See you later.