How to Build Wealth as a Digital Creator

“How can I make money from digital products?”

After 336 hours of studying common questions asked by creators to our support team, this was one of the most recurring questions.

We noticed that newbie creators wanted to learn how to make money selling what they knew, most likely because they thought they weren’t doing enough. While expert-level creators were creating multiple digital products because they understood the business of the creator economy and wanted to take advantage of it.

While some excelled at it, others were caught up in the fear of not losing their community members to their high-priced products. So they did a combination of low-priced and premium products.

Which in all fairness has helped these creators build successful businesses.

You can make money from creating and selling digital products. But like every other thing in life, building wealth as a creator is backed by principles.

In this article, we’ll show you how you can build wealth even as a digital creator.

#1. Sell premium digital products

Want to make more money? Go Premium! Financial experts say that wealth builds up over time. Yes, that’s when you have wealth to put in bites that accumulate over time.

Selling low-price products reduces your chances to have more money to save and invest, and the time it takes you to build wealth will be relatively slower.

By the time you remove your expenses, you may have little or nothing left to save or invest.

Moreso to sell premium digital products, you need to first create them. And to create premium products, you need to provide maximum value. Master something at an expert level and teach it differently.

Premium products are judged by their looks, value, and quality. So make sure to satisfy these criteria.

Learn How to Easily Create and Sell Digital Products Online

#2. Increase your market value

Simply put, improve yourself. Your current market value is a result of the people you’ve met, places you’ve been to, as well as things you know.

Also, the amount of money you earn now is directly proportional to your skill set and expertise level.

So, if you’re going to build wealth by creating and selling digital products, then you’d have to put in the work.

Many things can increase your market value as a creator. But we’ve categorized them into two; hard skills and soft skills.

Hard Skills

Hard skills are technical skills that enable you to carry out your job. They are typically job-specific and are acquired through formal training and education. You can think of it as your selling point.

For example, if you say you’re a UI/UX designer, people should be able to see the products and interfaces you’ve designed. If you say you’re a graphics designer, people should also be able to see the graphics you’ve created.

If you must build wealth as a creator, then you must amass more skills. Or even better become better at it, not just good. Nobody wants to work with someone that is “just okay.”

Soft Skills

Soft skills are a combination of people and social skills required of you as a person and for a job. They keep you behind the door while technical skills let you in.

Soft skills matter over time. You’d have to prove that you have good communication skills, attitudes, and mindsets to work with people.

Your audience has to see that you’re empathetic and genuinely care about sharing your knowledge with people. You can attract people to you because of what you know, but how you treat them determines if they stay or go.

By increasing your market value, you also position yourself to attract good deals like ambassadorship and partnerships.

Learn How to Sell Online Courses: Everything You Need to Know

#3. Plan your finances

Whether you sell premium products or not, you’re not going to build wealth if you do not understand basic financial principles.

As always, the process has been Earn – Plan – Save – Invest.

Blessing Abeng, a digital creator and branding expert, shared on Twitter how she puts aside money for investment and for having new experiences. That’s how smart creators roll.

Create a budget for all the expenses you make as a creator. Have an emergency fund. Use the 50% – 30% – 20% rule of budgeting that says;

  • 50% of your income goes to needs
  • 30% of your income goes to wants
  • 20% of your income goes to savings

Building wealth is a mindset that over time translates into your daily activities. A wise man once said, “If you fail to plan, you plan to fail.”

LEARN: Investing 101: How to Invest Your Money as a Creator For Long-Term Wealth

#4. Create more products

This doesn’t mean sharing more content online but creating more products to serve as more revenue sources.

If you had one ebook on sale, go ahead to make it two, add a productivity planner to it, and create an online course too.

When you create more products, you increase your income and chances to build wealth.

All the ideas for your next product don’t have to come from one industry, you can diversify. Learn new things and teach people about them. Discover new pain points of people in different sectors, find the solution, and create a digital product from it.

Even if it’s a template you magically ran into on Canva, package it as a digital product and sell it on Selar. We live in a time when people are willing to pay a lot for knowledge. So, take advantage of it.

Other digital products ideas you may consider creating include;

Asides from the regular ebooks and courses, you can create more of these digital products, categorize them into low ticket and premium offers, and sell them on Selar.

Learn 10 Best Digital Products to Sell Online

#5. Earn in different currencies

Sell your products in various currencies. You can make more money when the prices of foreign currencies rise and fall. In some currencies, you can make double the price while still maintaining a good price for it.

For example, $1 = ₦680, 9.8₵, 119.55 KES etc. Depending on your currency, you can earn more.

With Selar, you have an opportunity to earn in over 7 currencies. So you can easily pitch to customers abroad and have them pay for your product in their currency.

This diversification allows you to earn more, properly budget your finances, and still have enough to save and invest.

The Clock is Ticking

If you want to build wealth as a creator while still having enough money for retirement, the time to act is now.

You’re going to need to have the right approach combined with the right plan to achieve your goals. Wealth is a cumulation of small deposits over time. However, you need to be guided by strategic principles that’ll help you build wealth as a creator.

So, the best time to start is now. As they say, life is short.

Learn How to Price Your Online Course to Make More Sales

Pros of Being a Creator

Everyone thinks being a creator is an unserious career. But, regardless of what anyone says, “Being a creator is a full-time job” according to Salem King.

So, here’s why you should do away with naysayers and join the creator economy.

  1. You’re in control. You choose the products to create, how you want to create them, when you want to launch and how much you charge. You don’t need to check with your manager.
  2. You can start out solo. You don’t need a team to run your business. As you grow, you can make the decision to hire people to join you.
  3. You can work from anywhere and at any time.
  4. There’s no need to join meetings to discuss product growth. Create once, sell forever.
  5. You build a community. A tribe of loyal people who believe in you and your brand. And that in its entirety is solid.

In The End

It is shallow-minded to think that you can’t make money from being a creator. It is simply not true.

You just need to know the right strategies to build wealth. You don’t jump into something without carrying out your research.

Creators like Bruno Nwogu, Emmanuel Akpe, Social Media Oga, Emily Wale-Koya, and more are full-time creators who have built successful seven-figure businesses.

Ben Franklin, one of the founding fathers and American polymath said, “ If you would be wealthy, think of saving as well as getting.”

So, start your journey to wealth creation today! And when you “hit” subscribe to our pro plans and enjoy the ease of running a business.

A word they say is enough for the wise.