Matt Gray is a well known Youtuber and content creator. He is also the founder of Herb - the largest and most engaged cannabis community in the world of over 14 million people.
Previously he founded Bitmaker, which trained full-stack software engineers and got them jobs at companies like Shopify, Facebook, and IBM. Bitmaker was acquired by General Assembly.
Guest Author: Matt Gray
Peter Thiel, the founder of PayPal, Palantir and first investor in Facebook, said:
“Software enables a tremendous amount of value. The marginal cost is zero, so you have incredible economies of scale.”
Here’s how to make $100,000/month selling a digital product:
Digital products are the easiest entry to entrepreneurship – all you need is:
• ANY existing skills/expertise
• Basic tech understanding
• A willingness to learn
Don’t believe me? My digital products make $8.7M a year (and I’m no more talented than any of you).
Here’s why:
1. Lower Costs
With physical products, your time and money are constantly demanded.
Dealing with suppliers. Purchasing inventory. Ensuring fulfillment.
But digital products? You only invest time upfront (and to make edits).
Physical products chain you – digital sets you free.
2. Instant Delivery
Buyers get immediate digital access to your products – meaning less friction and faster gratification for your customers.
And, without needing to organize delivery, you’ve got one less variable to worry about.
Which is more time focusing on real customers.
3. Unlimited Quantity
The beauty of digital products: your marginal cost of production is zero.
You’re no longer subject to supply chain bottlenecks, meaning your biz is far less risky.
It’s a world where your inventory stretches as infinite as the internet itself.
4. Less Maintenance
With physical products, you could face problems with delivery, faulty pieces, or wear and tear.
But with digital?
Only issues with the quality of the item itself – which lies completely in your control.
Leave as little to the whims of chance as you can.
5. Higher Profits
Digital products have minimal overhead costs – the majority are small percentage fees for payments, sales platforms, or currency.
That means more profit to reinvest into your biz.
Leave the constant battle of cost-cutting for the sunny shores of margins.
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