If you have already owned a brick and mortar shop, you can extend your physical market to the virtual one by selling them online. However, if you are new to the business and not planning to start a physical shop which might be costly, you can always create your own products or services to sell online.
There are many types of products or services you can create. In my opinion, the best products are products that can be digitized and let users download from the Internet so that you can run your business 24/7 on autopilot without having to deliver your products. Even order and payment processing can be done online automatically. Hence you can enjoy passive income and freedom!
However, if you wish to sell physical products, there are many ways to do it, you can sell them on established e-commerce marketplaces like eBay, Alibaba, Lazada and more. Besides that, you can also sell them via social media such as Facebook, Instagram, WeChat, etc. On top of that, you can sell them on P2P marketplace like Carousel.
Some of the digital products that you can create to sell online are listed as follows:
One of the easiest ways to create your own products is to write and publish your own books, magazines or journals. More than a decade ago when I planned to write and published a book, I was at a lost at the beginning. Most publishers will charge a hefty fee and force you to buy many copies of your books to protect themselves from incurring lost. While I was contemplating where to look for a publisher, suddenly an idea came into my mind, why not I look for an online publishing company? Then I came across two very user-friendly and free publishing platforms, Createspace and Amazon’s Kindle Direct Publishing.
Createspace.com allows anybody to publish books for free. The only condition is you have to buy the draft copy of your book. Besides that, it allows you to publish digital books for Amazon’s Kindle. In addition, you can also publish music, video and films, CDs and DVDs, for free. Your products will be available for sale on Amazon.com and many other channels. All these books are marketed by Amazon.com and a few other channels and you can enjoy 35% royalty income for each sale.
Kindle Direct Publishing
However, the best platform to publish your own books for free is Kindle Direct Publishing(KDP). KDP allows you to self-publish eBooks and paperbacks for free, and reach millions of readers on Amazon. The following are the advantages of KDP:
Get to market fast. Publishing takes less than 5 minutes and your book appears on Kindle stores worldwide within 24-48 hours.
Make more money. Earn up to 70% royalty on sales to customers in the US, Canada, UK, Germany, India, France, Italy, Spain, Japan, Brazil, Mexico, Australia and more. Enroll in KDP Select and earn more money through Kindle Unlimited and the Kindle Owners’ Lending Library.
Keep control. Keep control of your rights and set your own list prices. Make changes to your books at any time.
Publish in digital and print. Publish Kindle eBooks and paperbacks for free on KDP.
Music and Songs
If you are a composer, you can sell your music scores or MP3 music played by you online. If you are a songwriter, you can market your lyrics online. You can either use your website to market your musical products or you can use a third party website to market them. One particular website that allows you to distribute and market your music on Amazon.com and other sales channels as an audio CD or MP3 music for download is Createspace.com. This website offers you tools to create professional looking CD covers as well as to encode your music into MP3 music for download. The finished MP3 music can be distributed and sold at Amazon MP3 website. You earn your royalty every time a customer downloads your MP3 music, the pricing structure is as follows:
|Number of Album Tracks||Royalty per Track Sale||Royalty per Album Sale|
|10 or more||$0.65||$6.18|
If your hobby is taking videos with your video camera, why not convert your hobby into a business? You can create all kinds of video products such as documentaries, educational programs, animated stories, funny videos, motivational videos, short stories and more. You can market your video products easily by using online video streaming site such as YouTube. A famous YouTuber like PewDiePie can earn millions.
You have the potential to sell them to big-time customers such as National Geographic and Discovery TV channels you can also create and distribute your film or video on Creatspace.com as well as Amazon Video on Demand. Createspace.com provides tools for you to create a video for download or create professional looking DVD cover if you want to sell your video or film in DVD format.
In this age of knowledge economy, information is becoming more important. If you have conducted market research and holds important data related to a certain market, there might be people or companies who are willing to pay you for the information.
Art and Graphic Design
If you are a good artist, you can create your art pieces and design and sell them online or via social media. You may also design logos or graphics for other companies that look for freelance artists via outsourcing platforms like Upwork.
E-zines and Newsletters
You can also create E-zines and newsletters if you have the talent for writing. Of course, you can always hire freelance writers to help you. By producing E-zines and newsletter you can earn subscription fees
If your hobby is culinary and over the years you have compiled some secret recipes, you may want to share with them with other hobbyists over the Internet by charging a fee.
Formulas and Methods
You may have special formulas or methods in creating something such as a new hybrid of orchids or unique dance steps developed by you, then you can market them to the Internet audiences who have the same hobbies. One of the friends who are a dance master and he designed his own line dance steps, and he was able to market the dance steps to foreigners.
If you have written some research papers during your undergraduate or graduate studies, you may be able to market them to the university students who may want to use them as references. I have published two print research papers, one was my master degree research paper and the other one was my Ph.D. thesis. They are being marketed by Amazon.com.I am also selling the digital copies of my two research papers on my own website.
Online gaming is big business, the global games market generated $81.4 billion in 2014 (Newzoo, 2014), out of which the mobile games market contributed $21.4 billion. The global games market is projected to reach $102.9 billion in 2017. So, you if can capture a tiny chunk of the games market, you can be a millionaire! Though creating a game no easy task, you can always hire freelance game designers to assist you in developing the game. If you and your team can create an interesting and unique game, you will be able to create a substantial niche market which you can capitalize to reap a huge profit. One of the most successful mobile games is none other than Angry Bird.
In this information age, many jobs are carried out using some kind of computer software. For example, most office workers use Microsoft words to create various documents, accountants use various accounting software and spreadsheets, Information officers use all kinds of database programs to manage databases, designers use all kind of designing software such as AutoCAD to design their blueprint and prototype, engineers use all kinds of engineering software to perform technical calculations, lecturers and teachers will use all kinds of multimedia software to perform classroom to conduct their lessons and more
An App is a program or a piece of software designed to fulfill a particular purpose; an application, that can be downloaded by a user to a mobile device or a desktop computer. In recent years, mobile apps have become the largest market in the cyberspace as there are more mobile device users than desktop users. Some apps have even become a billion-dollar app, among them are WhatsApp, WeChat, Uber, Snapchat and more. Creating an app is not easy but not difficult either. What is more important is that you need a creative idea before you can create an app that can attract the attention and interest of the users. You can always hire freelance programmers and graphic designers to develop the app.