In business (especially when just starting out) profit margins matter
...a lot! It can be the life or death of even the greatest of ideas. At the end of the day you need cash (profits) to survive, grow, and actually enjoy the business you’re building.
Since digital products cost almost nothing to create (just use your smartphone!) and don’t need to be shipped or stored in some expensive warehouse or office, these products have the highest profit margin of nearly anything we’ve seen!
Plus they’re incredibly price flexible. From $7 to $7,000 and everything in between. We’ve learned at Foundr (after having over 100,000 paying customers and our teams experience producing nearly 100 successful online courses) that success is rarely about “being cheap”.
Above all, your prospects want their problems solved. They want value. When you overdeliver in the right way, your customers become lifelong fans and buy courses, coaching, and nearly anything else you produce. Even for thousands of dollars.