3. Digital Products (5 Passive Income Stream Ideas for 2024 and 2025)

tylorbell

NYC, Entrepreneurship, & Healthy Living   Howdy, I'm Taylor. I'm a 20 something former management consultant and ivy-league grad from California turned solopreneur in New York City, and I love making videos that follow all of the above. Stick around 😊

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00:00Five passive income streams for 2024 and 2025.

00:03Number three is digital products.

00:05This is something you create once,

00:06like an ebook or an online course or a budgeting template,

00:09you name it, then you put it out in the world

00:11for it to sell repeatedly without it needing more

00:13of your effort.

00:13Since you're not holding inventory

00:15or dealing with the logistic constraints

00:16that usually come with a physical product,

00:18there are usually low overhead costs

00:20and high profit margins with digital products.

00:22And since it's digital, that gives it a really great ability

00:25to scale to a global audience,

00:27and you can update it after the fact if you want,

00:29if you wanna add a bonus module to your online course

00:32or an extra chapter to your ebook.

00:33It is a competitive space, but if you can come up

00:35with something that is better or different

00:37than other product offerings out there,

00:39this is a great way to make passive income.

00:41Passive income stream number four coming soon.

00:43Like and subscribe so you don't miss it.

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