Experience really is the best teacher, but so is learning from someone who has been there before you - it can speed up your learning curve and help you reach your goals faster. So for those of you who are running businesses, I think this subject is so stinkin' important. I have had a business with both physical and digital products. They each have their draws, especially as a maker, but there is a clear winner, in my mind, no matter where you are in your business journey.
If you're new here, you can read about my business history from my very first Etsy shop to current day on the Make a Full-Time Income with an Online Business blog post.
When you're deciding between physical or digital products you have to weigh your resources. Do you have all the supplies you will need for the physical products? Do you need to buy software for digital products? In general, physical products have more overhead costs (that means money out of your pocket) than digital ones.
I only made signs once a customer ordered one and paid me for it. I couldn't afford to have a huge stockpile of blank signs or even completed signs that I would have to store. It kept my overhead costs low but also meant I was always behind the 8 ball trying to complete orders.
In my digital business, my overhead costs were/are low. I don't have any shipping supplies or product creation supplies I need to make my product. My iPad and Apple Pencil were an initial investment for my hand lettered SVGs but you can design SVGs with fonts for little to no cost as long as you already have a computer.
Without a doubt, physical products take up more of your time. Sure, there are options to have a warehouse ship your items when you get to that stage, but like me, a lot of you are probably designing, creating, and shipping your projects one by one.
I spent countless weekends hustling trying to prep, paint, and ship signs.
One thing I love about digital products is that I can make them once, list them in my shop, and they keep making me money with little to no effort. Yes, I even make money while I sleep!
I have beautiful designs that sell over and over again with little to no effort on my part giving me the freedom in my schedule I had always dreamed of.
Even better news, the digital world is BOOMING! There are so many ways to add digital products to your biz - SVGs, sublimation files, e-books, courses, design/marketing templates, social media graphics, digital planning supplies, digital scrapbooking elements, printable wall art, digital wallpapers or screens, printable chore charts or checklist...and so many more!
Tomorrow I am hosting a FREE webinar all about the freedom that selling digital craft files gave to me and my family. There's a replay available if you can't make it live, so be sure to click the photo below:
I would love for you to join me and see how to design the life you have been dreaming about. It isn't too late to start living that life NOW.