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What is the Most Profitable Business Model?

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Welcome to Episode 005 of the #AskTiffany Show. This week’s question is: What is the most profitable business model?

This week I am giving away a copy of my book, the Digital Cash Evolution to one lucky follower. To participate in the #giveaway, please follow the instructions below.

Step 1: Follow me on SoundCloud
Step 2: Click the like button
Step 3: In the comments section below, ask any question related to start up business.

If your question is featured on the show, you will get the book for free.

Digital Cash Evolution

What is the Most Profitable Business Model?

Just to give you a little background about my journey as an entrepreneur… I never took a job. Right after college, I started my business. I have failed at many ventures. In the 16 years I have been an entrepreneur, I can tell you that the most profitable business model is the digital product business.

If you have been following my blog, you will know that my journey in developing digital products began after my son was diagnosed with autism. It was during this challenge that I taught myself to create computer games and mobile apps to help him develop his speech and improve his academic and social skills. If you would like to learn more about my leap of faith, please click here.

Since then I have created many other digital (tech) products, including games that help students prepare for the Belize PSE Exam, the BJAT Exam, the Trinidad SEA Exam and the Jamaica GSAT Exam among many other digital products and brands. But what makes creating these digital products so profitable?

Here are 5 of the most basic reasons selling digital products online is the most profitable business model.

  1.  No overhead. That’s right. This includes no inventory. You are selling the same product over and over again. It costed me only $100 to create and sell my first digital product. Everything thereafter was profit.
  2. Truly passive. I make money even when I am asleep.
  3.  No inventory. Since you will be selling the exact same product to each customer, you do not need storage space. You don’t need to spend money on expensive warehouses.
  4. No investment. Apart from the money you will need to initially create your product, you will not need to invest anything additionally in continuing to sell your products.
  5. No delivery. Unlike the eCommerce business model, you will not need to be bothered with delivery. Customers can download your product immediately after they have purchased it with no involvement from you.

If you are interested in starting your own digital product business, I suggest you take a look at my book the Digital Cash Evolution. This is a step by step guide on starting a profitable business selling digital products online.

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Can Entrepreneurship Help to Reduce Student Loan Debt?

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Welcome to Episode 004 of the #AskTiffany Show. This week’s question is: Can entrepreneurship help to reduce student loan debt?

This week I am giving away a Debt Free is the New Sexy T-shirt to one lucky follower. To participate in the #giveaway, please follow the instructions below.

Step 1: Follow me on SoundCloud
Step 2: Click the like button
Step 3: In the comments section below, ask any question related to start up business.

If your question is featured on the show, you will get the T-shirt for free.

Debt Free is the New Sexy

Can Entrepreneurship help to reduce student loan debt?

Disclaimer: I have never been in debt, but I was able to to start my digital product business on less than $100. I am only offering my opinion based on the logic that if a low-cost start up was able to foster my business while I remain debt free, the same business model can help to reduce student loan debt.

If you know much about my story, you know that I met a crossroad in my journey as an entrepreneur when my son was diagnosed with autism. It was during this challenge that I taught myself to create computer games and mobile apps to help my son improve academically and socially. The results were amazing. If you want to learn more about the crossroad in my journey, you can have a look at my about page.

Once I had developed this skill, I started to create educational computer games to help other children and I sold them using a few of the techniques I outlined in my book, the Digital Cash Evolution. I have created and sold a few games that help students to prepare for the Belize PSE, the Trinidad SEA exams, the Jamaica GSAT and the CSEC CXC exams. I was able to create and sell these games for less than $100.

If you are looking for a specific business model that can help you to reduce student loan debt, I recommend the digital product business model. With a little time and $100, you can build a passive income stream that can reduce your student loan debt in a very short space of time.

Need a few ideas to get you started with entrepreneurship and start to reduce student loan debt?

Get my complete guide on creating your own digital products and selling them online. You’ll have an idea for the type of digital products you want to create and what the strengths and weaknesses of each option are. You can start your business today for less than $100 USD investment. Get this guide now!

Download From Amazon

Digital Cash Evolution

What is the Most Intelligent, Yet Risky Business Move You Ever Made?

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Welcome to Episode 003 of the #AskTiffany Show. This week’s question is: What is the Most Intelligent, Yet Risky Business Move You Have Ever Made?

This week I am giving away a One Step Ahead T-Shirt to one lucky follower. To participate in the #giveaway, please follow the instructions below.

Step 1: Follow me on SoundCloud
Step 2: Click the like button
Step 3: In the comments section below, ask any question related to start up business.

If your question is featured on the show, you will get the T-shirt for free.

One Step Ahead

How Can I Generate Traffic To My Website With No Marketing Budget?

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Welcome to Episode 002 of the #AskTiffany Show, How Can I Generate Traffic To My Website With No Marketing Budget?

This week I am giving away a Mind of Marketing T-Shirt to one lucky follower. To participate in the #giveaway, please follow the instructions below.

Step 1: Follow me on SoundCloud
Step 2: Click the like button
Step 3: In the comments section below, ask any question related to start up business.

If your question is featured on the show, you will get the T-shirt for free.

Mind of Markeing

Stop Pitching, Start Connecting

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On this week’s episode of the #AskTiffany Show, I will discuss 5 connections that you can make right now to gain traction for your startup business. These techniques are applicable to Belize and the Caribbean. There is no doubt that entrepreneurship is the future of job creation in the Caribbean. But one major challenge that entrepreneurs are faced with is transitioning from pitching to connecting with potential customers and closing a sale. While it might seem strange, people will not buy your product because it is a good one. So in this episode I offer a few tips on how to start closing sales without hard selling.

In this podcast show, I will be using quite a few examples from the book Traction – How Any Startup Can Achieve Explosive Customer Growth by Gabriel Weinberg and Justin Mares. This book offers actionable steps any entrepreneur can take to start generating sales for their new product or service.

If you have any questions, or have a few techniques you would like to add. Please let me know in the comments below.