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Starting an Online Business: Brainstorming Your First Product
What is "Knowledge Commerce" and what does selling a product in this industry look like?
At Kajabi, we have carefully chosen this phrase to describe this industry that we are apart of, but often times it can be a little confusing to get started in launching a business in. We are here to help you brainstorm what exactly it looks like to sell a digital product.
To make it easy, let's start with an industry that most of us are already knowledgeable about: E-Commerce. In the E-Commerce industry, businesses sell physical goods online. This could look like home decor, paper goods, clothing, etc. Pretty simple right?
Now let’s brainstorm other ways (besides physical products) that you can start a business online.
What about teaching? What if you took the knowledge that you have on a particular subject, and sell courses about that subject online?
This is Knowledge Commerce. 💡
Take what you know, your area of expertise, and help others learn about that through the use of video, assessments, webinars, and downloadable PDF. The basis of your business comes from your knowledge. Therefore, if you have established a niche in which you are knowledgeable in, brainstorming a product becomes easy!
If you don't have a niche, here is a video to help you in choosing your niche. Watch this and then come back to brainstorm your product! You have to have a clear vision for the topic you want to teach before you can brainstorm specific products.
The Number of Products You Can Sell is Unlimited
One of the best things about starting an online business by selling courses is that the amount of products you can have is unlimited. The idea is that one niche can be broken down so many times, that you can have as many products as you want within that niche.
Every product should be answering one question that your audience has. You are trying to solve a problem for them through your knowledge.
Let's look at an example.
Let’s say that your niche is Health & Fitness. Now more specifically you want to help answer the question: how to run a marathon.
Although this seems like you could stop there and create a great product around that question, we encourage you to go deeper and get as specific as possible, that way you have more content and can narrow down your audience even more.
So, instead of just answering the question of how to run a marathon, here are some other ideas for products:
- How to Run your First Marathon
- How to improve your marathon time by 30 minutes, guaranteed
- Ten stretching exercises every marathon runner needs to prevent injury
- 30 must-eat meals for marathon runners to have boundless energy
All of these concepts could be profitable products for your online business. If you were super knowledgeable about running a marathon, you just sit down in front of a video camera, record yourself teaching on each of these topics, create worksheets or quizzes to go along with it and BAM you have an online course!
It really is just as simple as that. Getting your product live is the first step, getting it in front of the right audience is the next step.
Brainstorm How You Can Turn Your Niche or Passion Into An Online Course
Write down 10-20 ideas for course topics to get your creativity flowing. If you need extra help, write down some ideas in the comments and get some conversation flowing here! We would love to help you all brainstorm more products you can sell online.
Kajabi is a powerful tool that can help you take these newly brainstormed digital products and turn them into a business.