Part 3/8:
- Cons: High failure rates, significant investment up-front, a steep learning curve in marketing and logistics, and the common myth that success can be achieved quickly.
Beginners often discover that physical product businesses require extensive knowledge of logistics, audience targeting, and product fulfillment, rendering them high-risk ventures for those starting out without experience.
Digital Products
Digital products, which encompass things like templates, online courses, and eBooks, are viewed as better options than physical products. They incur lower production costs and require less time to create.
- Pros: Easier to produce, low-cost, faster to market, and higher profit margins due to scalable duplication capabilities.