Creating a digital business is one of the best ways of monetizing your knowledge and passion. Let’s agree that we all have something to share with the world. We are human beings loaded with ideas that can help transform and change our world, and while doing that being rewarded financially for that.
The best way of being rewarded financially for your talents, knowledge, and passion, is by turning your ideas into products, and then turning them into profitable digital businesses. And that, we can all do. Today, I intend to share with you some digital businesses ideas that you can start online.
I hope through this blog post to challenge and inspire you to take a more proactive step in turning your ideas into a profitable business online.
Maybe you are still wondering why should you create a digital business, in which case I have an answer for that.
What is a Digital Business
A Digital business is a type of business based on digital products and runs automatically on autopilot online. The very nature of this businesses is that they are run through the internet.
#1 Create a Blog
Maybe you are wondering how can a blog be a business? I thought blogs are just for sharing ideas, thoughts, knowledge, information, and so on. Well… it is that and much more. In the beginning, you can start a blog and share the best that you have with your audience. But as you grow your audience, you may want to monetize.
In fact, it the best thing that you can do, and it is one of the best ways of monetizing information online. You can turn your blog into a digital business online.
Once you have a big audience you can start finding out what are the needs that your audience have, and providing a solution to those needs and challenges.
Once your blog begins to get traction and engagement you may want to monetize in different ways. As you do this consistently you may grow this into a business.
Here are some of the ways you can make money blogging:
- Affiliate Marketing
- Selling Your Own Products
- Running Events
- Building a Community
- Selling Services
- Recurring Revenue
The above are some of the ways that you can turn your blog into a business. You can start with one of these ways of making money blogging, or through a combination of some. Once you it begins to grow, you have to scale it to turn it into a business that can run without you.
#2 A Membership Site
A membership site a type of site where you charge people to have access to your content online. It is usually run in a subscription format. In a membership site, you can offer exclusive content, eBooks, tutorials, courses, videos, or other types of digital products.
One good example of a membership site that sells digital products is ThemeForest. This is a marketplace that sells digital products for creatives, especially WordPress themes and templates to create websites and blogs.
To run a membership site you can make use of WordPress plugins such as MemberPress.
Once you have a membership site all you have to do is to is to promote it and keep adding relevant content to keep your audience coming.
#3 An Online Store
Since companies like Amazon broke the ground of online sales years ago, almost anybody can do the same today. It may not be the size of Amazon because very few people can do that. But you can actually start your own online store and sell digital products online.
With WordPress you can create any type of online store and sell your own products, you can use plugins such as WooCommerce and Easy Digital Downloads to create this type of sites. With these platforms, you can create basically any type of online store that you wish. You choose the type of products that you want to sell online.
With an online store, you can sell eBooks, Videos, online courses, and even physical products to the public.
All you need to create an online store is to install WordPress on your server and then install and configure either WooCommerce or Easy Digital Downloads. Once you do that all you have to do is to start adding products to your online store and start promoting it to the public.
With so many people preferring to shop online you have a good chance of turning your online store into a good digital business.
#4 An Online School
There is an increase in popularity of online schools. Many people prefer to learn a course online rather offline. Learning online has great advantages for people, such as the convenience of learning at your own pace and from wherever you are.
The buying of online schools such as Lynda.com and the popularity of only schools such as Udemy comes to show that the education of the future will be online. Almost everybody now goes online not only to search for something but also to learn some new skill.
This brings a new and great opportunity for you and me. By using platforms such as WordPress it becomes fairly easy to create your very own online school. All you have to do is to use WordPress in combination with the best plugins for online courses.
A plugin such as WP Courseware is a great choice for anyone who plans to create a digital business online.
One of the great advantages of creating an online school is that like so many other digital products you do not have to spend a lot of money to set up one. All you need to do is to set up your own school on your server with WordPress and add your courses.
Once your school begins to grow in popularity you can continue to scale and create more courses so that people can get access to it.
#5 Start a Podcast
Podcasting is a growing trend now, most people prefer to listen to podcasts to learn something new. That is because podcasts are convenient to everyone. All you need to have is a smartphone and you are good to go, you can listen to a podcast from anywhere while you are doing things you like.
One can think that a podcast is just a way of sharing ideas with your audience, but remember that any platform that allows you to share your ideas has the potential for making income.
There are examples of people who started digital businesses with podcasting, among such people are John Lee Dumas from Entrepreneur On Fire, and Cliff Ravenscraft from Podcast Answer Man. Obviously, these are not the only people who have turned their podcasts into great businesses online.
If you like sharing stories, ideas, and your knowledge through the microphone maybe this is the idea that you want to launch your very own digital business online.
To start a podcast all you need is to do the following:
- To choose a topic you love and master
- Name Your Podcast
- Get a microphone
- Record with Audacity, Garageband or Adobe Audition
- Upload to your media host
- Publish on your Website, Itunes, Sticher, and others
Creating digital businesses is possible using some of the ideas that I shared with you in this post. I hope that through this post you may be thinking of the type of digital business that you can create. Through a digital business, you have a great opportunity of sharing your best ideas with the world while being rewarded for it.
Doubtless, this is by far the best ways to monetize your ideas online. So what type of business are you creating? What are you going to create if you haven’t started creating your own yet? Share with us in the comment area.