Badass Is The New Black (Season 3) Episode #22 Should Your Business Go Digital?Mar 13, 2022
Is going digital worth it? Current events have forced people to get on the internet more and more, so should your business follow suit? Krissy Chin shares her insights on bringing your business online and asks: Are digital products the future? Krissy gives pointers how to start your own online business and reveals the right mindset you need to run one. This episode is a must-listen if you are contemplating starting up your own business online or are thinking of bringing an already existing one to the digital world.
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Should Your Business Go Digital?
Are Digital Products The Business Of The Future?
In this episode, I'm going to dive into the topic of digital products and online business. We're going to talk about if you missed the boat on starting your digital business or is there still time? I'll talk about how to figure out what your digital product could be about or help you get more clarity if what you decided is a good fit. If you're building a business online and if you're leveraging digital products like courses, membership sites, workshops, or you're thinking about it, this is the right place to be.
The Online Boom In 2020
This is a solo episode with me, the one and only Krissy Chin. I've been doing a lot of interviews and wanted to come to chat with you about this topic of where it is, where it's going, and help you with your business. We're going to dive into this digital product space. We're going to talk about it. Is it too late for you to start a business with digital products? Let's get right to it. 2020 was the catalyst to sending more people online. Let's be honest. They'll never go back to being the same as they were before. There's a reason for that. More people were forced to go online. They were forced out of their office. They have this new understanding of online.
People were forced to learn more tech by getting online and using these platforms to continue to communicate.
People were forced to learn more tech by getting online and using these platforms to continue to communicate, whether it was with people who were in their company, their business, or industry, or communicating with people and continuing to network with people. If they weren't doing it online before, they were forced to do that. Things will never go back to being the same because once you know something, you’d do things differently or you have more possibilities in your future. I don't have the stats and it doesn't matter. The fact that many people got online and are doing more online, they'll continue to do things online. Think about how many people had never used a virtual conference platform before the spring of 2020. Now everybody knows what Zoom is. Zoom has grown on that branding ladder where if you want to meet virtually with someone, you say, “Let's Zoom.”
Even if you end up on Skype or Google Hangout or someplace else, you’d still say “Let's Zoom.” It's like, “Just Google” There are lots of search engines but you say Google. That's what I mean by they've upped themselves on that branding ladder. I’ve talked about that with Michelle in another podcast episode where she talks about her book Exit Rich. Now you say, “Let's Zoom.” You could meet any virtual way. Zoom is the thing. I'm recording here on Zoom. Zoom is the acceptable way of meeting people. It can be the acceptable way of meeting one on one, in a group, a workshop, or a master class with your students. It doesn't feel like a foreign thing anymore.
These platforms are more acceptable, which means that digital, going digital, being online, this is the beginning. More people were forced out of their jobs. They’ll need to find other means to bring in income. Instead of going back to school, they're turning online for education. You can learn anything that you want on the internet for free. You can go to YouTube, search, and listen to podcast episodes. You can learn how to do a skill, trade, craft, and get better at things online. People invest in things like courses or membership sites to get more guidance and to get that specific process that they want.
Because you can get everything online for free and learn everything, it doesn't mean that you shouldn't create a course, a membership site, or have a workshop. People like to learn from different people or people that they resonate with. Someone might be searching for something on YouTube and they would find that person's voice is annoying or how they talk is annoying. They then find you and they're like, “I'm vibing with Krissy. I love her relaxed energy where anything goes and we get to do what we want here. This is our business and this is our life.” They'll resonate with you.
Is It Time To Go Digital?
That being said, everything being online, not only could you create something to sell but you can also learn how to do it online. If you want to build a brand online to grow your business, that foundational piece that you have no idea about, you can purchase my course, Build A Blissful Business. There are lots of things that you can tap into to get the education that you need to learn that next skill. You're here, reading this podcast to learn more. Other people will want to learn the knowledge that you have. Getting your knowledge into a digital product, 100%, is a good option for you in your business.
E-learning is expected to reach a $325 billion industry by 2025. That number is crazy to think about that much money being spent on digital learning. My question to you is, do you want your business to be in that space and you’ll be grabbing, reaching out into the air, and grabbing a part of that $300 billion or not? Do you want to be in the industry or not? You might think, “Spring of 2020, there have been people that jumped on this opportunity when they were forced to and now, I'm starting to explore it. I was dragging my feet a little and I've had this idea for a course or a membership site for forever and I haven't done much with it. I'm a year behind.”
Choosing Your Digital Product
I want you to know that this digital space is just getting started. It has grown tremendously over the last ten years. It's going to grow tremendously over the next ten years or until 2025, $300 billion. What type of digital product are you going to create? What will you create it on? I have an awesome worksheet and a guide that will help you figure out what knowledge you have in your brain. You don't even have to go learn any new things about what you're going to teach. You have knowledge already that you could turn into a digital product online and generate a profit.
I have a worksheet and a guide that's going to help you identify what that is. What your digital product could be about. If you go to TheKrissyChin.com/profit, you will be able to get that free worksheet and guide. If you already had an idea, you're like, “Krissy, I've already got this idea. I already know what I want to teach. I already know that I love finance, helping people get out of debt, eating better, working out, or leveraging video.” Whatever it is, you already have this idea. You can use this worksheet and guide to bring you more clarity to what you could offer.
I want you to think about the lifestyle that you want to create. The private clients that I work with, this is something we focus on tremendously. You've heard me talk about it before if you're following me on social media or you're reading podcast episodes. We talk about the lifestyle that you want to have in the future. What does it look like 1 year, 5 years, or 10 years from now? Do you want to be working 40 hours a week? Do you want to be working ten hours a week? What do you want? I don't care if it looks different than what I want. It will look different than what I want. I want you to be mindful about what you're doing now to ensure that you're creating the lifestyle that you want.
You already have knowledge that you could turn into a digital product online and generate a profit.
How much time do you have to invest in it now? You're like, “A year from now, my business creating passive income and I'm not doing anything. I'm maybe spending three hours a week in my business but I only have ten minutes a week to invest in it.” It's likely not going to happen in a year. Knowing realistically, how much time do you have now to invest? Can you grab a little bit more of your time and invest it now to build something great so that you can get to that lifestyle you want a little bit quicker? Maybe in six months? Maybe in one year? How much time do you want to be spending each week working on your digital business? Not only how much time do you have, how much time do you want to have? If you only have 30 minutes a day but you would like to spend an hour a day, where can you find some little pieces that you can eliminate?
No one out there is taking a nap. I'm not even taking naps anymore. I used to be taking naps. With homeschool and all this stuff, I'm not taking naps. When I send the kids back to school, I would be taking more naps. That was something I used to do. How can you get some more time back in your day? How can you be efficient in something else so that you can get a little bit more time to focus on your business? The more time that you spend upfront, the quicker that you're going to get it done. You can just make progress with 20 or 30 minutes a day. That is better than nothing, 100%.
If you're not doing anything because you're thinking, “I don't have the time to create it.” You are the person that is going to find yourself saying, “Shoot, I wish I would have started or focused on my business a year ago when I read Krissy’s episode.” Maybe you were that person in the spring of 2020 and now you're at that point and you're like, “I said I didn't have the time to do it. I was busy with other things. Now, I wish I would have started.” We don't have to live with regret. We can learn from that. We can say, “I might not have all the time in the world but I can dedicate 20 or 30 minutes a day, Monday through Friday or Monday through Thursday or Tuesday through Thursday. Focus on getting this idea worked out and built out online that I can sell it.”
Think about the knowledge that you already have and could teach someone else or what you are already teaching. I'm going to go through tons of different examples to give you thoughts and ideas on this. Maybe you are a financial advisor and you charge a lot to do work one-on-one with people. There are things that you can teach by the masses. Someone who can't afford your one on one service with financial advising. There are generalized tips and tricks that you can teach people. What you do for your clients, what they can do for themselves. You create a finance course. You have worked your way out of loads of debt and you want to teach others how to do that. I know someone who's creating this course. It doesn't matter that Dave Ramsey is out there and teaches how to get out of debt. You might heard that name. He's huge in the in debt space or you haven't.
You probably have a different process. Maybe you did his course and you realize, “This didn't work for me. I need to do it this way.” You got yourself out of loads of debt. You want to teach your perspective. You want to teach your process. Trust me, there will be people out there that will resonate with you. You've lost 60 pounds through intermittent fasting so you want to teach others how to do that as well. You have the knowledge. You have the process. You can think back, “How did I do this? How was I successful? What did I struggle with in the past? Why did this time make a difference?” You can teach that to someone.
Maybe you love marketing or you work in marketing at your corporate job. You have loads of experience. You did or didn't go to school for marketing but that's what you're working in. That's what you've learned about. You know a ton. You're a great storyteller. People are always telling you, “You tell such amazing stories.” People are always captivated by you. You teach other people how to do that. Sometimes you don't think you have this skill. Other people have told you, “You're good at listening.” People have told me that before, “You're good at listening.”
I never thought about teaching people how to be good listeners. I would say it comes naturally to me or I've learned the skills to be able to listen well. If I think about it, while it seems simple and natural to me, other people may not understand it. If I can think about the process or what I'm doing when I'm listening, then I can teach someone else how to be a good listener. Things that come naturally to you, things that you're already doing, you may think that no one needs your advice or knowledge or to teach them how to do it. Not everyone can do it how you do it or the way that you do it. You can take that knowledge and you can teach them your process. Teach them your tips and tricks.
Maybe you're like Jack from a past episode. He was a professional model. He was behind the camera for years, professionally. He was forced into this realm, through the pandemic and projects being shut down. He's like, “I'm going to teach business owners how to leverage video. I've been behind the camera for years. People are lacking confidence, the skill, and the knowledge to get on video." He knows how powerful it is. He knows how important video is. He knows how powerful it is. He's like, “I'm going to dedicate my time, a little time every day. I'm going to build up and teach people how to do this. I'm going to teach them for free online and then I'm going to create a course. They're going to be able to get more access to me and my specific process and learn how to do it.”
David Bianco, a friend, and private client. He's a successful actor. He is always booking new work. Now that we're back in the scene, he's got a lot of bookings. He is creating a course to teach those entering this industry how to book more auditions and get more roles. He's taking his years of experience in his industry that he loves. He doesn't want to leave that industry. This is the difference. Some people hate what they're doing. They want to get out of their 9:00 to 5:00 and they want to go digital online. They want more financial freedom and flexibility. There are those people, maybe that's you. If that's you, you can say, “Yes, that's me, I want to leave what I'm doing and I want to have my own business for more freedom and flexibility.”
Online Course For A Life Coach
Some people love what they're doing. They're thriving with what they're doing. They have so much knowledge of what they're doing. They want to expand that and help more people do that same thing and be successful in that area. David loves his acting career. He doesn't want to leave his acting career and do courses. He wants to continue that. He wants to grow his brand and his business to help more people do the same thing. If that's you, tell me, ‘I want to take what I'm doing now and make it more scalable. That's the difference. Maybe you're working one-on-one. I have some private clients. I don't take very many. I don't like trading time for money. You know this about me because I've shared it before. I love diving in deep with someone but it's not scalable. I know that I was put on this earth to make a difference to the masses, to help thousands upon thousands of people or a million people. We’ll find out. I need to do that in a more scalable way. I can't do that when I'm working one-on-one with people or you can't either.
Other people will want to learn the knowledge that you have.
I mentioned my course. I took the knowledge that I have acquired. In 2012, I launched my first LLC. I took my knowledge of the successes and the failures over those past years and how to create a brand. I created a brand and a business that generated $1 million after twenty months. I don't say that to brag or boast. I say that so that you know that it's possible. I learned a lot. We launched that business in 2017. I learned a lot from 2012 to 2017. It wasn't raining golden nuggets the day I launched my first LLC, but I kept at it. I kept going. I took my knowledge on creating a brand and a business and I thought about my process, “What does it take to put together a brand and a business that's going to attract the right client, that's going to bring in the people that you want and that’s going to help you sell. I'm going to bundle that up in a course and I'm going to sell it to people.” That's what I did.
You could be an artist teaching aspiring artists different techniques, pointillism. Two of my sisters are phenomenal artists. I always wanted to be a good drawer. It was not a skill that I had no matter how hard I tried. I could have taken more lessons to learn techniques. It seemed for Katie and Claire, it came more naturally to them. I remember Katie did pointillism. It's where you can create a whole picture with little dots. Now that I've said this, you know what it is.
I remember she did this picture of a baby. When you look at it from a little bit farther away, perfect resemblance, she’s talented. When you got up close, it was all these little dots. It came a little bit more naturally to her. Maybe she learned some skills through her art teacher or not. She loved doing pointillism art. She could teach other people the techniques behind that. It's super-specific. That's what she loved. She could teach those techniques online to people who are wanting to learn and expand their art skills through pointillism. I don't even know if that's what it's called. If you're an artist and it's not called that, don't shun me away. I'm not an artist. I'm like, “Points. Pointillism. Makes sense.”
You could be on the same artistry line here. You could be skilled in spinning clay or something that you're learning. You teach others the techniques that you're learning to spin. You're addressing the challenges that you're having, like, “I could not get it to be symmetrical around and I figured out that magic tip and trick to getting it to be symmetrical. Here's the tip.” You could be a life coach. You take what you do with private clients. We've talked about this. Taking what you do with one-on-one with private clients. You turn that into a digital course or a membership site that allows you to teach what you did do one-on-one but now you're scaling that. Now you're able to teach thousands of people at a time versus one.
My father-in-law is an amazing chef. He owned restaurants when my husband was a child. Michael grew up in the restaurant industry. George has owned multiple different restaurants. He cooks for us often. I'm grateful for him here at home. He has so much knowledge about food, prep, cooking, and flavors. If you have a cooking question, you ask Grandpa George, “How do I cut this meat?” I didn't even know there was a thing about cutting meat. It's against muscle, so when you bite into it, it falls apart. I don't even know that. I know nothing about cooking. I've even learned stuff with George. I tried and I stayed out of it. I don't want to learn too much because I don't want to be thrown in the kitchen. I let Michael and George do that.
He knows so much. He could record videos about this knowledge, teaching people about these techniques. He could teach moms and dads at home that are eating in a lot more or want to eat in more and cook for themselves. He could teach them how to do that. He could teach aspiring chefs what he has learned throughout decades of experience and skill that he has created and developed. He went shopping in the fridge. He was like, “I got some salmon. We can cook that up.” By we, I meant you. Grandpa George could cook that up because I'd probably mess it up. He was like, “We don't have a side dish for it.” I was like, “I could make a lettuce salad or something. It'd be super simple.”
Dinner is prepared and there's this beautiful side dish with sliced apples, thinly sliced pineapples, radishes, cucumbers, and celery. He made this dressing and I was like, “What is in this?” He’s like, “Mayonnaise and apple cider vinegar and a little sugar and this thing. We didn't have anything, so I looked in the fridge and whip something together.” How many people struggle with that? For multiple times, he has been super creative in creating something out of the hodgepodge, the one apple, less than a serving of each. The one apple, the one radish leftover, or the quarter of a cucumber. It's not enough for everyone and he whips it up and makes it delicious.
Building A Business You Love
He could take that knowledge that he already has. He doesn't have to learn anything else about that. He can put it online in a digital product. My mother-in-law teaches Koreans how to speak English better. She does this one-on-one. She trades her time for money. She's always booked up. She's started a YouTube channel to start growing her audience and plans to have either a course or a group offering. She's still figuring it out. She has plans to do that so he can help people more than one on one. She can teach one too many.
What are you doing? What are you skilled at? Sometimes I've used what are you an expert in? Oftentimes, people feel like they're not an expert. I want to encourage you. If you are three steps ahead of that person, maybe you're an expert in that step. Someone might only be three steps behind you and that's okay. Even if you feel like you're not an expert in something, what are you doing? What are you skilled at? What do you know? What do you love teaching about that you could teach other people how to do?
Start building and scaling a business that you love. One that lights you up.
I was a nurse and now I'm teaching business online. That was a huge difference there. Whereas Jack from the previous episode was modeling behind the camera. Now he's teaching other people how to be on camera. David, an actor teaching other people how to be better at what they're doing in their craft. I would love to know, is this something that is an evolution of what you're doing? Is it like, “I'm doing something different and now I want to do that?” The goal here is that you start, build, and scale a business that you love. One that lights you up. One that you're excited about to wake up every morning to do because entrepreneurship is hard. There are hard days. You might know your craft but you're going to have to learn how to get it online. That's what this podcast is here for, to help you learn how to do that. You know the things that helped you learn how to do that, “How do I get my website up and running? How do I get it online? Where do I host all of those things?” You'll have to learn those things.
I want you to take this information that I've shared with you. Now that you've got your juices flowing again, maybe you're brand new into this business and you're like, “Should’ve done this a year ago.” Now is as good a time as any. It is. That is the truth. You have already started your business and now you're like, “I'm ready to get more serious at this. I'm ready to scale this to multi 6 to 7 figures.” I want you to take this information. I want you to hop on to the web, onto the interwebs. Put in the URL, TheKrissyChin.com/profit and download that worksheet and guide. That is going to help you identify what that thing might be for you. It will give you some ideas on how you can get it started in less than three hours a week if you've only got twenty minutes a day.
I want to be able to help you make an extra $1,000 or $2,000 a month. That is my goal for you. That is the worksheet and the guide to get started with. If you already have that idea, you already know what you're good at, the worksheet is still good. It's going to help and bring up some questions and get you to start thinking about your ideal life. Are there pieces or things that you could be doing that you haven't thought about? Hop over to TheKrissyChin.com/profit to download that worksheet and that guide.
In the next episode, we will talk about all the different digital products you could leverage, what makes sense for you and your business, and how to use them to grow your business to generate more passive income. Things like workshops, masterclasses, digital courses, masterminds, we're going to talk about all of that. Before you go, subscribe to the show so that you're notified when the next episode comes out so that you don't miss that topic. If you found value in this episode or in any of the others you've read, please do me a solid and leave a review on the show. I love seeing what you're finding valuable.
If you want to connect further with me. You can find me hanging out on Instagram and Facebook. You can shoot me a DM or a PM. My website is TheKrissyChin.com I have taken the tip of making my name on social platforms the same across the board. It’s The Krissy Chin for everything, search for that and you'll find me. I can't wait to connect with you in these other places. Remember, “Done is better than perfect. Make imperfect action every single day and you will go far, my friend.”
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