Unknown Speaker 0:30
What's up everybody?
Speaker 1 0:32
Welcome to a brand new episode of Don't quit your job yet. Okay, so I told you that I'm going to start going live as much as I can on Facebook to really help all of you that are interested in leaving your nine to five job behind and stepping into this entrepreneurial space, guys, there's no doubt that we are living in one of the greatest times, literally one of The greatest times of our lives as it relates to, you know, building a business and creating wealth and making income online. So I just want to welcome you back.
Unknown Speaker 1:11
Excuse my voice. I
Speaker 1 1:12
want to welcome you back to the Don't quit your job yet, the show where I teach you how to make smart and strategic plans to exit your nine to five job while building a profitable online business. I'm Mark Casto. I'm your go to business coach. And today we're going to be talking about a problem that I hear all the time. And the problem is, people say I want to start a business, but I have no idea what to sell. And if that sounds like you, you're in the right place, and by the end of this episode, you'll have a clear process for identifying the perfect digital product idea, one that matches your skills, your passions and what the market is hungry for. So let's dive in, all right, and well, let me say this before we dive in. Always want to say, if you've got questions, anything that's on your heart that you want to ask during this live stream, I welcome it. We'll share your comment here on the screen, and we will be able to just check back with you and get and get that that started. So if you've got questions, I'm watching the comments here on Instagram, and I'm watching the comments here on streamyard, Facebook, YouTube, everything comes here, so let's, let's jump in and feel free to ask any question that you have in the process. Okay, alright, number one, why you need the right idea before we start brainstorming. Let me explain why choosing the right idea is absolutely critical. Not every idea is worth pursuing. So let me break this down for you. Some ideas are profitable, but they're boring, and you know what that means you're going to hate working on it. If you come up with a great idea that's profitable, but it doesn't bring passion or excitement to you. You're going to lose momentum. You're going to hate working on it. Secondly, some ideas are fun, but they don't make money, and so like you, you're going to start out really excited the honeymoon stage of digital products, but then you're going to feel frustrated when noone buys your idea, no one buys your product, then some ideas take too long to build, and then they fail because there's no real demand. So you're going to waste precious time and energy. So what you need is a sweet spot that combines three things, and I want you to write this down if you're taking notes. Number one, your skills, these are the things that you're already good at. Okay, skills save time, because you don't need to learn from scratch. So this is stuff that you can just teach, because it's already in you. It's already a part of you. Secondly, your passions, this is what keeps you motivated. Guys, if you don't love the work, you won't stick with it. Thirdly is market demand, and this is really the key your idea must solve a problem that people care about and that they're willing to pay for. And guys, the magic really happens when you combine all three of those things. If you only focus on passion, you'll be broke. If you only focus on profit, you'll burn out, and if you skip demand, you'll waste your time. So let's talk more about how to find that sweet spot. Okay, let's talk about brainstorming your skills and passions. Okay? Now this is going to be really practical, but here's how you can uncover your best ideas. Step number one, make a list of your skills. Okay, think about your professional skills. Think about hobbies, natural talents that you have, and let me, let me give you. Questions to even spark those ideas in your mind, what do people at work rely on you for okay? What's something you've learned through experience that others struggle with Okay? And what do friends or family ask you for advice on, like, like a broken record? You just know that people come to you all the time asking for your advice on specific things. Okay, write these things down. And now here's the key though, as you're writing them down, don't filter yourself. This is just a simple brainstorming exercise. This is not the time to edit yourself. This is not the time to filter yourself. Just write everything down. Okay? Step number two is, identify your passions. Now ask yourself, what do you love doing in your free time? What topics could you talk about for hours without getting bored? What hobbies or interests make you feel energized? See, passion is what will keep you going on the hard days. So don't skip this step, and then step number three is spot the overlap. Look at your list of skills and passions and where do they intersect. So for example, if you're skilled at graphic design and you're passionate about social media, you could create templates or a course on designing scroll stopping post. Or if you're a great organizer and you love helping people, you could create a guide on decluttering or time management. Guys, the intersection of skills and passion is where you're going to find your best ideas. Okay, then thirdly, we want to talk about validating your idea. Once you have some ideas, you need to test them before you spend time and money creating something. And here's, I'm going to show you something that's going to be really helpful for you. Because this, I'm going to show you how to validate your idea in three simple steps. Step number one is, always be talking to your audience, so ask questions directly to your target market. So for instance, you could use Instagram polls or Q and A boxes in your stories to ask like a question like this, what's your biggest struggle with and then whatever your niche is. Or you can join Facebook groups, jump on online forums where your audience hangs out and look for recurring problems or pain points. So for example, if you wanted to create a digital planner, you would ask in those Facebook groups, those forums in your audience, what's the number one feature you wish your planner had? And then all of a sudden, you get all these great ideas, and you'll find common threads in everybody that responds, okay. Step number two is spy on the competition. Look at what's already working in your niche. Search platforms like Amazon, Etsy, Udemy, teachable, Kajabi, see what similar products are selling. And then here's here's a big one right here. Read customer reviews to identify what people love and what they hate, try to find what's missing. Okay, remember, competition is a good thing. It means there's demand, and your job is to find a unique angle or a way to improve on what's already out there. Then step number three is pre sell your product. So the best way to validate your idea is to get people to pay for it before it's ever created. And here's how you just offer a pre sale, announce that you're creating a product and open it up for early bird pricing. Then create a beta version and let people test an unfinished version at a lower price point in exchange for their feedback. And if people are willing to pay now, you've got a winner. If not, it's time to tweak your idea and move on. Okay. Number four, let's talk about and I know I'm laying out a pretty hefty outline here, but I want you to get this is we're going to talk about the types of digital products that you can create. Okay, now that you have a validated idea, let's talk about the types of digital products you can create. And here are a few examples. Number one, ebooks, they're perfect for sharing, step by step processes, guides and tips. So for example, a great ebook is like 30 days to meal prep mastery, or the ultimate social media guide for beginners. Secondly, you can do online courses. You can teach people how to solve a problem through video lessons. So for example, you could do a course on how to launch your first Etsy shop or mastering Instagram growth. Thirdly, you can do templates and tools like done for you, services that save people time. Example would be Canva templates, budget spreadsheets, marketing scripts. Those are great ideas. Also memberships, online communities create a community where members pay for ongoing value. So for. Example, a monthly subscription for exclusive content, coaching or resources. Now, each format has its own pros and cons, but start with what feels manageable for you. So for example, an ebook might take less time than a full online course. So let me give you a call to action, and then then I'll check the comments for questions. Here's your homework. I want you to take some time right now, and I want you to brainstorm your skills and passions. Okay, pick one to two ideas that you want to really work on, and then and try to validate this week. Start small and don't worry about making it perfect. Okay? And listen, if you want step by step guidance on creating and launching your first digital product while still working your nine to five. Hey, sign up for my free master class. All you have to do is just comment the Word Wise and I'll send you the link. Don't miss it, guys, don't miss it.
Speaker 1 10:57
So let me check the comments real quick. I got Ed here. He said, thanks for sharing. Mark. We'll have to watch after I leave work, but it's very helpful. I love that. I'm so thankful that you jumped on just to share that with me. It's always a reminder that even though people can't make it live right now, they can always catch it later. So Ed, thanks for being a part of this today. All right, let me check one more place, checking Instagram. Instagram is going crazy over here, it's hard to keep up with the questions. All right, so I see one here. Which business do you think is good? Make me a good choice? Okay, well, I would say that the quickest way to make money online is to create a community that you can give ongoing value to. So I would challenge anyone start a community, show up for people in your niche, start creating content on social media for people in that niche, and drive that traffic to your online community and keep giving value to those people. That's the quickest way to make money online. Man, you guys on Instagram are going crazy. I can't keep up with all this stuff. Awesome. Well, guys, let me say this to you real, real quick. Okay, in the next episode, I'm going to tackle one of the biggest challenges for side for for anyone trying to build a side hustle, and that's how to build a side hustle schedule that doesn't leave you burned out. So I'm going to share my best tips for balancing your nine to five, your side hustle and your personal life. So do not miss it. Thanks for being a part of this. Hope to connect with you soon you.
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