+1000, thinking about digital products like books as assets akin to investing in stocks has been an important realization for me over the past few months.
Most of us who participate in communities like this have this insane super power of being able to create something out of nothing (but time and effort) that has value to people.
We can build little things that work their asses off for us forever, just requiring a nudge once in a while to keep them moving.
I've released two digital products in the last year, a book and a video course. The book will be a year old in May and still makes me $2500-5000/month, and the course (which came out in November) is still making ~$30,000/month, although I expect that to slow down soon.
Even still, with a little bit of maintenance marketing effort, I can expect those products to keep making a few thousand dollars each month for the next couple years while being able to dedicate the vast majority of my time to creating new products (assets) for my portfolio.
It feels a lot like the mentality that's pushed in "Rich Dad, Poor Dad" of owning things that generate cash flow, but instead of having to find money to purchase real estate, folks like us can invent these assets out of thin air. Really blows my mind.
It still boggles me how liquid virtual assets are.
My family had an old-school mentality and put up their assets in housing where they could. Unfortunately, that ties them to cities around the world, and incurs a penalty in terms of time and maintenance that goes far beyond ("let me build a few backlinks") + school taxes, municipal taxes, condo fees, sewage etc. etc.
No I actually built my own platform for self-hosting the course. I don't think you can make much money through sites like Udemy, I would instead recommend a platform like Coach (https://www.withcoach.com/).
Most of us who participate in communities like this have this insane super power of being able to create something out of nothing (but time and effort) that has value to people.
We can build little things that work their asses off for us forever, just requiring a nudge once in a while to keep them moving.
I've released two digital products in the last year, a book and a video course. The book will be a year old in May and still makes me $2500-5000/month, and the course (which came out in November) is still making ~$30,000/month, although I expect that to slow down soon.
Even still, with a little bit of maintenance marketing effort, I can expect those products to keep making a few thousand dollars each month for the next couple years while being able to dedicate the vast majority of my time to creating new products (assets) for my portfolio.
It feels a lot like the mentality that's pushed in "Rich Dad, Poor Dad" of owning things that generate cash flow, but instead of having to find money to purchase real estate, folks like us can invent these assets out of thin air. Really blows my mind.