Part 2/10:
Digital products are intangible assets distributed and sold online without the complications of physical inventory. Ranging from ebooks and online courses to digital templates and coaching sessions, these products stand out due to their infinite sellability once they’re created. Hummus compares this to planting a seed where, once nurtured, the fruits can be harvested repeatedly over time, making digital products the perfect passive income stream.
The PAM Method: Finding Your Digital Product Idea
To create a highly lucrative digital product, Hummus stresses the importance of identifying a worthy idea using what he calls the PAM method—Problem, Audience, and Mechanism.