I wanted to share with you a little something I’m working on at the moment to make some extra income. That is the creation of my own digital products that I can sell easily and quickly.
The reason creating digital products appeals to me is that once the work is done i.e. I’ve created the product once, it could sell over and over again with very little input from me. Digital products can certainly be a great form of passive income!
When you think of digital products, you might think about apps, learning programs or tutorials or some other kind of software that you can sell via your blog or Clickbank for example. But I’m not at that level yet so this post isn’t about those kind of products! I’m thinking more of digital products which I can create myself using the skills I have right now and sell them via an online marketplace.
I already have one digital product that you probably know about which is my “Achieving Debt Freedom” eBook (currently available on Amazon). It’s a great feeling logging into my KDP Amazon dashboard and finding another sale. This book isn’t going to make me rich overnight or anything but it’s very nice knowing that someone might be buying my book whilst I’m working on other things.
Using online marketplaces like eBay
If you’re a practiced eBayer, you’ll know that listing products on eBay to sell can be very time consuming. Then there’s the time and cost involved in packaging and posting your items afterwards. The hassle factor as I like to call it.
I’ve sold a lot of different things on eBay over the last few years. I’ve even had an attempt at running an eBay shop before and managed to make a little money by flipping products – buying them when they were on offer and selling them for the usual retail price afterwards when they were no longer cheap to buy.
My shop did make a profit but it took up a lot of my time researching the right products, looking out for deals and then all the admin involved in listing the products, dealing with buyers and then finally getting the products dispatched. In the end, I got bored and wrongly or rightly, I gave it up…
Digital products on eBay
I’ve noticed a lot of people selling digital products or services on eBay recently. Services like logo design, full website design and even CV rewriting can be purchased on eBay and involve no postage costs whatsoever. Then there are tons of template based products available which can be emailed out to buyers the same day.
So I began thinking about digital products I could create and sell which would just involve emailing the final product to the buyer. Not quite passive income since I’d have to push a couple of buttons to complete the transaction, but on the whole, not very time consuming at all.
As part of my day job, I use a few documents for work that I’ve had to put together myself to make my working life a bit easier and more organised. I created them to save me time when doing the planning work I need to do for my job. I decided to create some standard templates from them and sell them on eBay to see if anyone else could make use of them. To my surprise, they could!
I’m currently selling on average a few templates a week listing them for 30 days at a time. I only charge a few pounds for them because at the end of the day they are just word documents! But this has been very easy to do and I definitely want to scale it up by offering more templates along the same kind of lines for a higher price and generating more digital products in niches not related to my work.
Digital product ideas for selling on eBay or Etsy
If you can create apps, that’s great! But in case you’re thinking of creating digital products in the same way that I am, maybe you could make use of some of these ideas which involve different skill sets:
- Blog, Twitter or Facebook ready made headers
- Web graphics such as buttons, borders etc
- Standard logos which just need the company name inserting
- Budget, investment or debt payoff tracker spreadsheets
- CV templates
- eBooks or guides (you could also use Amazon and Barnes and Noble)
- Your own photography which you could sell digitally for the buyer to print themselves
- Craft based patterns or tutorials for knitting, crochet, beadweaving, etc.
If you’re a whizz at PhotoShop, Illustrator, Word or Excel, you could probably create something that you could sell. The trick is creating something useful, where there is a definite need for it and not too much competition. You could find out what kind of products are selling well in different niches using the search tools on eBay, analyze the competition and then work out what you could create yourself!
Have you created any digital products? If so, what are they and how are you getting on with selling them?
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40 Comments
Congrats on this new venture, Hayley. I would love to do something digital, I’m not very crafty. I may look into selling some of my photos. Thanks for the idea.
debs recently posted…What is Your Vision of Retirement?
Thanks Debs! You’re welcome and I wish you success with selling your photos! 🙂
This is a good idea! It’s a remarkably low dollar amount that you have to spend to get the product out there, and a really good rate of return!
Retired by 40 recently posted…It’s My 1 Year Blogiversary!
Thank you! It is very low cost to do something like this which is the really great thing about it. Very little investment needed except your time.
Continued success Hayley. This is definitely something I have considered. I just need to sit down to outline the possible products and then create the finished products.
Brian @ Debt Discipline recently posted…Budgeting: Birthday Gifts and Parties
I’d love to hear about your progress Brian when you get things up and running!
I’ve sold my album online but that’s about it when it comes to digital sales. Good advice here Hayley and it’s definitely a low cost way to leverage one’s skills for profit!
Kassandra @ More Than Just Money recently posted…Mentors I Admired (and Why)
Wow, how exciting that you’ve sold an album! Glad you liked this post Kassandra! 🙂
Interesting…good luck with it! I don’t have many skills that would translate well to selling stuff digitally…maybe photographs or an ebook. I’ve thought about buying artwork that many NYC street vendors sell for cheap and sell it online. Also, I’ve been looking into online marketplaces that you mentioned doing in the past. Amazon has a “FBA” program (fulfillment by Amazon) where you just buy stuff, ship it to Amazon (discounted rate) and they take care of the admin stuff.
Andrew@LivingRichCheaply recently posted…Would You Live in a Multigenerational Household?
Thanks Andrew! I like your idea about buying and selling artwork and that’s good to know about the FBA program too!
I certainly like the idea of selling a product that needs to only be created once. I currently buy and sell clothing on eBay which I make money on and does involve time, but only what I put into it. In the future for me these are great ideas, thanks for sharing.
Even Steven recently posted…Guys with Beards are Secret Frugal Mofos
You’re welcome, I hope this helps you in the future! 🙂
Great idea with the digital products. The ROI on those must be incredible.
Done by Forty recently posted…Is College Really Getting More Expensive?
Thanks DB40! It doesn’t feel like I’m earning much at all with me only selling my templates for a low price but the opportunity is there to scale it up. Selling 50 templates a week would be a nice earner! 🙂
I like the idea, but I’m not that good with the digital stuff. I’m learning slowly and maybe someday I’ll start selling some of the ideas I have.
Aldo@ MDN recently posted…Ting Review – 3 Months
Sounds good Aldo! I’d love to hear about your ideas sometime for earning extra money, maybe you could share them on your blog?
What an interesting side hustle and one that generates a (pretty much) passive income.
Kayla @ Shoeaholicnomore recently posted…September 2014 Budget Plans
Thanks Kayla! I just need to ramp it up a little more!
This is a great idea to generate some income while pretty much doing next to nothing afterward! I’m sure it will ramp up once you list more templates. You can sell them individually or bundle them together and price it a little higher.
Erin @ Journey to Saving recently posted…How Do You “Get in the Zone” for Work?
Thanks Erin! Someone has since told me that eBay don’t allow sellers to dispatch digital products by email but I’ve not had a problem so far so I’ll carry on. Just need to think of more products!
Congrats Hayley! I used to buy one tablet last year for my daughter and I bought it online, but I have never been tried buying at the biggest online store like eBay.
Kate @ Money Propeller recently posted…3 Things I Wish Someone Had Told Me About Money Before College
Thanks Kate! 🙂
This is a really great idea! Nice work, Hayley. I would love to get into creating digital products. I want to create an ebook first and see how it goes. I don’t have a lot of programs on my computer or much skill, but it would be great to learn.
Melanie @ My Alternate Life recently posted…Down Time
You should definitely go for it Melanie, eBooks can be a nice earner!
My friend shared your “Achieving Debt Freedom” with me. The book is really good and offers easy steps for wisely spending money and saving more. You have really a creative mind there! This time is generating income while even doing nothing must be something to look forward to!
Jayson @ Monster Piggy Bank recently posted…Investigating Peer to Peer Loans for Borrowers and Investors
I’m glad you liked my book Jayson! Thank you for taking the time to read it. 🙂
I thank you because I’ve learned so many things because of your book. What other books have you published?
Jayson @ Monster Piggy Bank recently posted…Considerations when Getting a Personal Loan
Interesting. I have sold many things on eBay, but nothing I have created. I am working on an ebook right now, which I will sell anywhere I can once it’s complete.
Kalen Bruce recently posted…What You Need to Know About ALS and The Ice Bucket Challenge
Wow that’s great, look forward to reading your eBook Kalen when it’s ready!
Very nice! I’m pretty useless at creating anything digital but I have used similar services like fiverr to buy things- like the logo for my site!
Stefanie @ The Broke and Beautiful Life recently posted…Who are YOUR Joneses? Today’s Lifestyle Inflation
Congrats on reaching out and creating new revenue streams. It can be a daunting task (much like starting a blog) but it’ll get easier over time!
Jay
Jay @ ThinkingWealthy.com recently posted…Why I’m Not Frugal (Sometimes)
Huge congrats on the consistent book sales, Hayley!!! We are working on getting into this too, and I can’t wait to see the monetary results. 🙂
Laurie @thefrugalfarmer recently posted…Dealing With Depression
Thanks Laurie! I’m not earning much yet in the grand scheme of things but hey a book is a book and there will be sales no matter how slow or fast it happens. Good luck with your book sales Laurie, keep us posted with how you’re doing with them. 🙂
That’s great that you are making money from selling document templates! I would have never thought of that. Although I played with ebay (minimally) many years ago, I’ve noticed that it still seems to be a good place to make money, and I have been considering a re-entry into an ebay business.
Maybe I’ll have to create a digital product. Great post, thanks for sharing!
Rob @ MoneyNomad recently posted…How to Live Like a King on a Pauper’s Budget
Thanks Rob, glad you liked this post and good luck in creating a digital product! Please share with us your progress if you decide to start up some kind of eBay business. 🙂
Great post Hayley!!
You’ve given me a few ideas and as such, I was thinking of using Etsy to sell some of my digital art work. I have a good friend who makes a serious yearly income from Etsy and while she’s at the top of the income heap, there’s lots of room in between to make a few bucks…or quid 🙂
Please keep us informed of your work and hopefully, you’ll be rolling in the money in no time 🙂
Take care and my best to all.
Lyle
Wow that’s great, I’m glad you can make use of an idea here. Let us know how you get on with making money with your art work!:)
Hello Hayley
This is a pretty comprehensive guide! I must say, you wrote a very comprehensive article about how to successfully sell and promote digital products.
There are plenty of places online to sell digital information products, including on your own site and if anybody want to get clear idea then he has go through your post.
Thanks for sharing this wonderful resource with us.