Three, two, sun. EasyJet's big orange sale is now on, with up to £400 off package holidays and up to 20% off flights. Book now at easyjet.com. Get out there. Selected dates and flights sale on 5th of May. Holidays minimum spend and after protected, season sees apply. Take my money. You, you and you. Gather in the name of chicken, for thou shalt not eat alone. The KFC popcorn bucket. 60 pieces for $5.99. Get the deal. Believe in chicken. KFC. Available until 17th of May. Subject to availability. Participating restaurants only. Not available on delivery. See website for full season sees. I want to tell you about the best business decision I ever made. I essentially built it once and it's been selling over and over again ever since. No warehouse, no investors, no storefront, no supply chain. I'm talking about a digital product. Today I'm going to be sharing insights I've never shared before. The behind the scenes of the math and the mistakes that most people don't talk about. And I'm going to save you a ton of time, money and heartache if you want to build a digital product today. Welcome back to the $100 MBA Show. I'm your host, Omar Zenholm, where I deliver practical business lessons three times a week, Monday, Wednesday and Friday to help you start, grow and scale your business. I got a quick favorite to ask. If this show has helped you in any way, leave me a quick review. You could do so wherever you listen to podcasts. This helps me and my team reach even more people who need the same no fluff practical business advice that you're getting from the show. It only takes a few seconds, but it makes a huge difference. Thanks for being a part of our journey to help others on their journey. Firstly, what exactly is a digital product? A digital product is anything of value that is delivered electronically on the internet. Pretty simple. No shipping, no inventory, no physical form. Some examples include online courses, programs, eBooks, guides, templates, toolkits, memberships, communities, workshops, masterclasses, software and apps, AI tools and prompt packs, prompt templates, even coaching programs to deliver digitally. What makes all these special is the economics. You build it once, the cost of sell a second copy is zero. The cost of sell copy number 1000 is still zero. There's no other business model in the world where you can have such incredible margins. And that's the fundamental reason why digital products are one of the most powerful assets you can build. One of the most common questions I get asked when it comes to building a digital product is how long does it take to create one? And the honest answer is it depends on what you're building. If you're creating a short eBook or template, it could really literally be a focused weekend and it's out there in the world. If it's a mini course or a challenge, two or four weeks and you're pretty much done. But if you're building a fully-fledged program like the 100-OMBA that has many tools and templates and software and all bunch of stuff that work with it, it could take several months of focused work to get it all done. But here's the thing that most people get wrong. They wait until their product is perfect before they launch and that's a big mistake because perfect never comes. Listen, the first version of the 100-OMBA when it came out back in 2013, which is what? More than 12 years ago, it doesn't actually resemble today's program. Today's program is much, much bigger. It's well thought out. The production is much higher. And that is a good thing because that meant that I started and iterated and improved and I learned from my customers what they actually value and need before I started to change it, improve it and add to it. The smartest approach I found is to build a minimal viable version, the core solution to the problem you're trying to solve, get it in front of people and then improve upon it based on their feedback. Remember, the first version is just that, the first version, it's not the final version. It just needs to be genuinely useful to your customer so that they can feel compelled to buy it. And just to give you an example, when the 100-OMBA came out back in 2013, it launched with a core curriculum, a clear promise and another value to get people paying for it. It didn't have the workbooks and the clear steps that we have today. It didn't have all the templates that we had, some templates but not the library of templates that we provide. It didn't have AI tools. It didn't have AI prompts or AI writing apps for them. Didn't have a way to even track their progress or take notes or any of that. And that's okay, because that means I left room to improve based on what the customers want and not just based on my own beliefs and what's in my head. The most important thing is that foundation that we built on top of over the years. Here's something subtle that most digital product creators never understand. And it costs them a lot of money and time and energy. And that's that physical products have a built-in value perception advantage. When you buy something physically, whether they're headphones, whether it's a notebook even, something simple. When somebody holds something in their hands, their brain registers value automatically. It's like, this is mine now, I have it. You can feel it, you can show it to someone. It exists in the world, right? Digital products don't have that. Everything is consumed on a screen. And that gap, that tangible gap, means you have to work harder to create perceived value. This is not a flaw in the model, it's just a constraint that you need to understand and design around it. And I wouldn't be doing you right, I wouldn't be serving you right if I didn't point this out. So you really need to increase the perceived value of your offering as much as possible to make it compelling. The simpler way to put it is the way to close that gap is by over delivering. Your digital product needs to feel more than what the customer expects to get. More depth, more tools, more support, more clarity. When someone finishes your product and feels like they got three times what they paid for, that's how you will win in the space. I actually aim for 10X, because that will get them to talk about the product and tell other people, and get me customers for free. That's the standard I set for everything I create in the digital product space. And it's the standard that you need to set too, if you want to make this easy on yourself. I've seen hundreds of digital products, and the single biggest difference between the ones that sell and the ones that flop is simply this, listen very carefully. Does the customer know exactly what result they will get? That's simple. Does the customer know exactly what result they will get from your product? Not kind of, not vaguely, exactly. Let me give you a concrete example so that you fully understand what I mean. Let's say you're in the market for a new electric car, and you don't know what you don't know, right? You're never so making a big mistake. This could cost you $50,000 or $100,000. Now imagine there's a three hour course with a test drive checklist that walks you through every question to ask every red flag to look for, and every feature to compare. You consume the three hour course on Friday night, and then you walk into the dealership on Saturday morning feeling completely confident, you know how to choose the right car for you. Would you buy that? Of course you would, because the outcome is crystal clear, and you'll buy the right car and not make a costing mistake. So the investment in this short course and this template or this checklist is a pretty good investment because it's gonna avoid a major mistake and a major loss. And that's a formula for your digital product. You need to identify a specific person with a specific problem that's looking for a specific outcome in a specific, reasonable timeframe. For things, let me say it again, a specific person with a specific problem that's looking for a specific outcome in a specific and reasonable timeframe. For our program, the $100 MBA, it's built on this exact formula. The outcome is simple. You could start an online business that's actually profitable. Now for people who are already running a business, we have different tracks. We have a start track, we have a growth track, we have a scale track. Each have a clear outcome. The start track allows them to start and make their first dollar. The growth track has a clear outcome of reaching $300,000 in annual revenue. The scale track has a clear outcome of reaching a million dollars in annual revenue. There is no ambiguity. When a customer arrives to our website, they know exactly what they're buying and exactly what they're working towards. That's a clear product for a clear person, for a clear outcome, and for a specific timeline. We make it super clear on the website how long it takes to complete the program. So they have an understanding of the timeframe. By the way, if you're serious about building your business with us here at the Hundred Dollar MBA, make sure you subscribe to the show because I have an upcoming episode that I'm working on that I think you're gonna find really interesting. Yeah, you're not gonna miss this because I'm gonna share why I tend to hire women. What are some of the benefits I get by having more of a female presence in my company? And what are some of the things you may not expect to encounter when you have a team full of leaders that are women in your business? You don't wanna miss this, so hit subscribe so you get it the moment it drops. The next secret I wanna share with you is something that I wish somebody told me long before I started, and that's you're not selling information, you're selling implementation. This is one of the most important shifts you have to make in your thinking. 10 years ago, you could build a course that was just good content delivered over slides. You could talk over PowerPoint slides on a video and you could sell that course. Valuable information clearly presented, done. That worked because information was genuinely scarce. Today, information is everywhere. You can Google almost anything. You can find a YouTube video or a tutorial on basically every skill that exists. And now with AI, you can literally just chat with AI to get answers in seconds. Three, two, sun. EasyJet's big orange sale is now on, with up to 400 pounds of package holidays and up to 20% off flights. Book now at easyjet.com. Get out there. Selected dates and flights sale on 5th of May. Holidays minimum spend and after protected, season fees apply. 500 orders a month was manageable. 5,000 is madness. Embrace intelligent order fulfillment with ShipStation, the only platform combining order management, warehouse workflows, inventory, returns and analytics in one place. What used to take five separate tools, ShipStation does in one. Go to ShipStation.com and use code START to try ShipStation free for 60 days. So if your digital product is just information, you are competing with free. And the honest truth is you're gonna lose. What people are actually willing to pay for now is implementation, not just knowing what to do, but actually being able to do it. That means your product needs to include clear step-by-step instructions, not just concepts. It needs templates that they can use immediately to save them time and energy. And not just examples to look at, they need an actual template that they can just complete. They're gonna need workbooks and activities that put their learning into action. They're gonna need tools that do part of the work for them, community or access to you, so they're not doing it alone. In other words, yes, we have super high-quality video lessons, but we've learned over the years, alongside those videos, it's imperative to have those tools. We have an interactive workbook with exact activities that students need to do so they can start implementing what they're learning in their business immediately. We have templates like one-page business plans and marketing templates and profit and loss sheets and all bunch of stuff that they can just plug and play and use actual templates that I use in my own business. We have AI tools to help students write better emails, create better offers, validate ideas. We even have something called OMAR AI, which is a custom AI trained on my content. So as soon as you can ask questions, it get answers immediately so they don't have to wait for an answer for 24 hours or a week or whatever it might be, they can just get it right away. And they can interact directly with me through our community. This is not an information product. This is an implementation system. And that distinction is what makes people renew month after month, year after year, instead of canceling after one week. The truth that people do not talk about online is that the quality bar has never been higher. I have to be straight with you when it comes to this because you have to have high production quality. This is what people are used to now. 10 years ago, the bar was incredibly low, a decent webcam, a quiet room, a genuinely good content that was explained clearly was enough, but those days are over. Honestly, customers today have been trained by Netflix and YouTube and masterclass to have polished videos, polished content that they can enjoy, but also learn from. Their eyes and ears know exactly what quality looks like and sounds like, so you can't really phone it in. You have to really make sure your product is high quality. Now, it doesn't mean you have to have a Hollywood studio. It just means you need to remember to have good lighting, clean audio, a clean background that's not distracting, just some clean editing as well. These things are achievable on a modest budget, even if you outsource it, but they're not negotiables now because your product quality is a signal about your brand and what you stand for. It tells your customers before they consume a single lesson how seriously you take your product, especially if you're showing some samples of your course on your sales page or even your sales video and the quality that it is presenting at. And if you don't take it seriously, why should they take you seriously? Let's talk about price. And this is where a lot of creators really overthink it. So let me simplify it. Your price needs to be compelling enough that it's a no-brainer decision. That simple, it has to be a no-brainer. It does have to be cheap, but it has to be clearly something that is compelling for them to say, hey, this is great value. There's a difference, cheap means low quality. No-brainer means the value is so obvious, it exceeds the price and the hesitation feels foolish. Here's something that most people don't fully appreciate about digital products. Your marginal cost of reproduction is zero, like I mentioned, once you built it and you sell one more copy, it costs you nothing, right? That means you can price it attractively and still build a very profitable business. You're not constrained by manufacturing costs. Remember, the way that a physical product is presented, you have to recreate that physical product and send it to the customer. A digital product is there for people to just consume without you needing to do any work or spend any more money. When I was building the 100-LMBA back in 2012 and then when we launched in 2013, there were courses out there charging $2,000, $3,000, even $5,000, just videos on a page, no workbooks, no community, no tools. That model worked when information was scarce. It doesn't work today. Now, with our program, the 100-LMBA, I chose $100 a month for a reason. It's simple, it's easy, okay? The name is in the price and it's super simple to remember. Second, it's a skin-in-the-game filter. If you won't invest $100 a month to build your business and change your life, you probably aren't truly committed to building one. So you're probably not the student for me. Thirdly, it's genuinely accessible. It's less than a dinner out with your partner. It's not so expensive that it creates financial stress, but it's enough that people show up and do the work. Only you know the right price for your market. But I do encourage you to think less about what you think it's worth and more about what would make it a complete no-brainer for your ideal customer. Now, I needed to bung something once and for all because the digital product space is full of people selling you the fantasy and I'm here to give it to you straight, okay? Yes, there's a concept of a built-it-once, sell-it-forever, pure passive income. That's not exactly how it works. At least not if you wanna build something that lasts. Digital products require ongoing investment. This is not entertainment. This is not like Seinfeld in syndication. This is information and the information inside needs to be updated as the world changes. The videos need to be refreshed as the product standards start to rise. The templates and the tools need to evolve as your customer needs to evolve. If you have a community, you need to show up to it, right? If you have AI tools, you need to improve them. You need to support them. This is especially true if you're running a reoccurring subscription model, like a monthly billing or an annual billing, with a subscription, you're not selling one time, right? It's not a lifetime membership. You're earning the customer every single month or year because they're making a decision if they're gonna renew every month or year. The truth is, customers can cancel the moment the value stops, right? If they don't feel like they're getting any more value, then they're probably not gonna pay you anymore. Think of it like this, a digital product business is not a vending machine. It's a relationship. And like any relationship, it needs attention, it needs investment, it needs genuine commitment to be better and better over time. The good news is that if you continue to invest in your product, you build a loyal community of people that see you as a professional. So why do I think you should build a digital product? If you're creating content right now, on Instagram, on YouTube, you have a podcast, you have a blog, you have an audience that trusts you and a digital product is the natural next step. It's a way to take the people who already are getting value from your free content and serving them at a deeper level with more instruction, with more structure, with more accountability, with more results. And beyond the revenue, here's what I didn't expect when I built the 100-Hunderdombri program. I learned more about my audience. I learned more about what they want, what they need. And I learned because these people are really invested in the program because they've paid money. I'll be quite honest with you. Most of the feedback I get from this podcast is positive because it's free. And as much as I love it, I don't really get feedback about what people need and want and desire and what their fears are until they're actually paying me money. And because they're paying me money and I have a program with a dashboard, with a software that's behind it that I can see analytics, I can see what people actually need and what they don't need, and not just base all my information on what they say. You learn where they get stuck. You learn where their fears are. You learn what kind of language they use when they describe their problems. So I can use that language in my sales pages and with the way I communicate my instruction. Building a digital product is not just a business move. It's an education in who you're serving. Now, I have to be honest. I'd be doing you a disservice if I made this sound easy. It's not. Creating a digital product that actually sells requires a bunch of things. It requires a genuine understanding of your audience's pain and the problems they're going through. You need the discipline to define a specific outcome and stick to it for your audience. You need the commitment to build beyond just videos. You need to build tools and templates and community. That's gonna take some work. You need to have the willingness to invest in a quality production. You need to work on this over and over so you can keep on improving it even after launch. Most people fail at building digital products because they build what they wanted to teach and not what their audience needed to learn. There's a difference. Let me say that again, okay? They built what they wanted to teach and not what the audience needed to learn. They also fail because they price their product based on their ego rather than value. They don't create a no-brainer offer. They also fail because they launch it once and get mediocre results and they never iterate and improve it. But the people that are doing, they stay close to their customers. They keep improving. They never stop asking, is this person getting the result? I promise them. That question asked honestly and often is a secret to a digital product that sells for years. If you take anything from today's episode, it's this. Nice and simple. Find a specific person with a specific problem. Define a specific desirable outcome. Build an implementation system, not just content, that gets them to the result. Price it so it's no-brainer offer. Invest in a quality production and launch before it's perfect when you have enough so that they get the outcome. And then just never stop improving it. That's it. That's the blueprint that I used to build and maintain the $100 Embraerate Program. And hint, hint, it's the same blueprint that has worked for every successful digital product creator I know. And if you commit to it, it'll work for you too. If you're willing to do the work. If this episode has given you clarity, to finally start building that digital product and you wanna start using the power of AI to help you out, you're gonna wanna check out an episode we recently published called The Ultimate Guide to AI for Normal People. In that episode, I walk you through step by step how to get started with AI so that you're not behind the curve anymore and you're utilizing it to leverage it in your business. If you found today's episode helpful and you want more practical business lessons to help you start, grow and scale your business, the best thing you could do is subscribe to this podcast. Hit subscribe or follow on your favorite podcast app, the one that you're using right now, whether it's Apple or Spotify, or ever you listen to podcasts. By hitting subscribe, you get our next episode automatically and it's the best way to support the show. It's absolutely free and it's a way for you to commit to growing your business. And now that you've subscribed, I'll check you in the next episode. Three, two, sun. EasyJet's big orange sale is now on, with up to 400 pounds of package holidays and up to 20% off flights. Book now at easyjet.com. Get out there. Selected dates and flights sale on 5th of May. Holidays minimum spend and after protected, season sees apply.
