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- Cons: The market saturation creates hefty competition, and making a profitable digital product requires expertise in audience engagement and marketing that many beginners lack.
Although many are lured in by the ease of creating digital products, they pose significant risks for those new to business. They score a C-tier ranking.
2. Content-Based Business
Content-based businesses draw revenue from creating online content, such as blogging, podcasting, or making YouTube videos.
- Pros: They offer multiple income streams, such as ad revenue and sponsorships, and foster community-building among followers.