Becoming a digital file platform requires a great deal of effort, dedication, and most importantly passion.
If you're interested in how to sell 10, or selling 10 online, you can use this page as a guide for everything you'll need to know.
Want to learn more? You can check out our full guide on how to design a digital file platform ➜
|Min Startup Costs||Max Startup Costs|
|Office Space Expenses||$35||$3,250|
|Employee & Freelancer Expenses||$0||$5,500|
|Equipment & Supply Expenses||$525||$5,500|
|Business Formation Fees||$5,600||$20,400|
|Advertising & Marketing Costs||$0||$2,250|
|Total Startup Costs||$6,542||$46,744|
|DigitalOcean – The developer cloud||digitalocean.com||#2,817|
|Easy Digital Downloads||easydigitaldownloads.com||#21,773|
|Digital Product Delivery||getdpd.com||#50,388|
|LA County Library||lacountylibrary.org||#150,799|
|West Wind Drive-In Theaters||westwinddi.com||#169,684|
|Rescue Digital Media||rescuedigitalmedia.com||#233,701|
|Flexibility||You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.|
|Ability to start your business from home||It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!|
|Scalable||With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.|
|Meaningful business connections||You never know who you will meet as a digital file platform. This could be the start of an incredible business opportunity!|
|High customer retention rates||Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.|
|Unlimited income potential||With becoming a digital,file,document there is no cap as to how much income you can make. The stronger your business skills and the more energy/time you put into your career, the more you'll make.|
|Low margins||The gross margins for your digital file platform are typically around 89%, which can make it more challenging to incur new expenses and maintain profitability.|
|Niche Market||A niche business is not necessarily a bad thing, in fact, it can be the key to your success. However, it can be more challenging and time consuming to find the perfect niche market and target audience.|
|Churn||In this business, customers can cancel their membership or subscription for your services - which can make revenue forecasting challenging and unpredictable. It's important to focus on your churn rates and trends so that you can prevent this as much as possible.|
|Time commitment||With becoming a digital,file,document, all responsibilities and decisions are in your hands. Although this is not necessarily a negative thing, work life can take over at times. This can place a strain on friends and family and add to the pressure of launching a new business.|
|Impatient customers||You may offer an engaging user experience for your customer, but customers expect a lot and may be impatient if they aren't pleased with your product or service.|
|You might struggle financially (at first)!||If you bootstrap your business or choose not to pay yourself (or pay yourself less than you were making at your corporate job), this can be financially taxing. It's important to adjust your lifestyle and set a plan for yourself so you don't find yourself in a stressful situation.|
Affiliate marketing is a great way to bring in a new revenue stream, especially when you don't sell products or services.
Simply put, an affiliate program is an agreement where a business pays another business or influencer ("the affiliate") a commission for sending traffic and/or sales their way.
The affiliate typically gets a unique link where clicks and conversions can be tracked.
The most tried and true way to grow a digital file platform is through word of mouth - some entrepreneurs would say it's more important than all social media.
Social media advertising is one of the leading ways to get the word out when it comes to digital file platform.
There are various different Social Media platforms available to you. Some may be more critical for your marketing efforts than others, however, it's important to have an understanding of what's out there and available to you.