There are many attractive reasons to work online. There’s the freedom; there’s the potential for significant earnings and there’s the sense of satisfaction that comes from choosing what kind of business you want to run.
But for some of us, the biggest draw of making money online is that sense of accomplishment. We love being able to tell people we’re ‘entrepreneurs’ and we get a thrill out of earning a living on the back of our ingenuity alone. But perhaps you’re getting to the point where that isn’t quite enough? Because sometimes, selling digital products and running blogs can start to feel a little empty . . . while you might be creating value, at the end of the day you’re still just selling ideas and text and nobody gets anything physical to hold at the end of the day.
When you tell someone you’re an entrepreneur, what springs to mind? Most likely, they’ll imagine that you’re an eccentric inventor – someone who comes up with gadgets, gizmos, ideas and more and then uses those to make people’s lives better and make a bit of money on the side. We think about people like Arthur Fry – the inventor of Post-it notes.
When you say: ‘nah, I run a website,' you can almost hear them deflate with disappointment. Oh, that kind of entrepreneur . . .
Make no mistake – making money online is a fantastic way to earn cash while enjoying the lifestyle you want. And it’s incredibly skilled, talented and impressive if you can do it.
But at the end of the day, it’s not quite as exciting as creating a genuine, physical product.
Imagine being able to hold something in your hands that you dreamed up. Imagine being able to use it as part of your routine. And imagine visiting a Big Box store and seeing your product there on the shelf . . .
Imagine your product taking off and becoming incredibly popular. Imagine walking down the street and seeing lots of people using your item.
With a physical product, you can quite genuinely change the world and make a much bigger impact than you can with an ebook.
Physical Products for Profit
But it’s not just about the noble cause of getting to feel that sense of accomplishment. Making a physical product also makes a lot of sense regarding money.
That’s because physical products are still where it’s at when it comes to revenue, and that’s not likely to change anytime soon.
For starters, physical products have a much wider appeal and can sell to a significantly bigger audience. Even through e-commerce, physical products sell considerably more than digital products. Why? Partly it’s just because people like to hold something in their hands when they’ve spent money. Have you ever bought a digital product online and then felt immediately empty? As though you haven’t gotten anything worthwhile for your money?
Now imagine trying to sell an ebook to people on the street. How many people would be likely to go for it? Or even be interested?
A lot of people would never buy an ebook and certainly not one on making money online. In fact, the vast majority of people would never consider that. They’re not getting anything tangible that they couldn’t find for free online, they don’t like reading books on their computers, and they’re not interested in working online.
Compare that with a physical product though and you now have something with obvious value to a broad audience. If it’s the right price, then there’s a chance anyone who passes on the street will be interested.
Imagine just showing your Grandparents what you make for a living. Show them a book you wrote on the computer and you’ll get an unenthusiastic ‘that’s nice dear’ if you’re lucky. Show them that you’ve made your toy, gadget or item of clothing though and you’ll have a genuine interest.
That’s the difference with a physical product.
And then you have the ability to scale. The most scaling you can do with a digital product is to get it on JVZoo or another affiliate marketing platform. That way, you can get many other marketers helping you to promote your product in exchange for a commission. That’s good – but it’s not quite as good as having millions of units selling through many high street stores around the world . . .
Why Now is the Best Time
So with all this in mind, why is it that most people don’t create their physical products? Why is it that most people will settle for ebooks or just placing ads on a website?
The answer is simple: they think that creating a physical product is beyond them.
The assumption here is that companies like Apple, Microsoft, Hasbro, Ikea, Nike . . . They make the physical products because they’re the huge, multinational corporations. They have manufacturing plants, patents, shipping deals, massive amounts of marketing and more – and they poor billions into market research, focus groups, R&D and more.
So how can one person do all that? How can you possibly compete?
Well, that’s where things are changing. And that’s where all this gets very exciting.
Because right now, it’s incredibly easy to create and sell a digital product. If you’re willing to make something simple, there are options that to start selling physical products from your website today.
But I’m not just talking about those simple ideas. I’m also talking about the ambitious ones. Want to make your smartwatch? Well, you can do! Want to make some device for opening jam jars and sell it from major stores?
Again, you have that option.
It takes a little bit of work – and that’s why I recommend creating an online business first and using that to bootstrap yourself (although we’ll see how you can avoid the need for doing that too).
Ultimately, though, the web is the ‘great equalizer’ and has closed the gap in many ways when it comes to creating hardware. It’s now more possible than ever to not only do all this but to do it from the comfort of your home without ever stepping foot outside. You can outsource your manufacturing; you can outsource your shipping and storage, and you can do all your marketing and selling through the web.
Today, just one person can have the same kind of impact with a physical product that a large company can. And it’s only going to move more and more in this direction in future. And actually, that’s an incredible thing.
There is a genuine hardware revolution occurring right now. Are you going to get involved?