DON'T FALL FOR THIS 😳 (The TRUTH no one is telling you about starting a digital products business)

About this video

Hayes busts three myths she says discourage people from starting a digital products business. Myth one, ’there’s no room for me’ / market saturation: she argues demand is growing alongside sellers, as more shoppers buy digital versions of items such as printable wall art and digital planners, and that competition is proof of demand. As examples she presents, a seamless patterns and digital paper shop open 19 months with 3,407 sales at an average listing price of $6 — which she calculates as over $20,000 total, or over $1,000 a month in mostly passive revenue — and a logo design shop open 14 months averaging around 35 monthly sales at an average price of $30, again just over $1,000 a month. She adds that most competing sellers are not strategic about SEO, listing images or shop quality, so actual strategic competition is thinner than listing counts suggest. Myth two, ‘I’m not techy enough’: no design experience or graphic-design background is required; beginners can learn from free YouTube videos, classes and tutorials, and beginner-friendly drag-and-drop platforms like Canva make creating designs easy, though some learning along the way is expected. She also promotes her then-upcoming ‘Digital Products with Canva’ course and its waitlist. Myth three, ‘I already sell physical products, so I can’t sell digital products’: it is not either/or — digital products can be added as a mostly passive additional revenue stream that sells on repeat after the initial creation, and if the digital products are unrelated to the physical ones, they can be kept separate in different shops.

Key takeaways

• Competition is proof of demand, not a reason to quit: Hayes argues demand for digital products is growing along with the number of sellers.
• She cites two new shops as encouragement — a patterns/digital paper shop and a logo shop — each, by her calculations, averaging over $1,000 a month in mostly passive revenue.
• Most existing sellers are not strategic about SEO, listing images or shop professionalism, so a seller who optimizes has less real competition than raw listing counts imply.
• No tech or design experience is required to start: free videos, classes and tutorials plus beginner-friendly drag-and-drop tools like Canva are enough, with learning done along the way.
• Physical and digital products are not either/or: digital products can be added as a mostly passive second revenue stream, in a separate shop if they are unrelated to the physical products.

Episode details: published August 22, 2023 · 7:22 long. Summary written by Self Growth Videos from the episode itself. Business results and any income figures mentioned are Kate Hayes’s own claims, shared for education — they are not typical or guaranteed.

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