Last week Ebay announced something that shocked a lot of people. They’re discounting the sales of any digital download products. Now at first that was a shock to most people, and still is.
There are sellers that all they have is digital download items, that means that their business is gone overnight. I myself, have quiet a few products that are completely digital and are only available by download.
At first, my initial reaction was just like everyone else’s. I was shocked, disappointed and somewhat upset at the whole situation.
But then I quickly asked myself, what good can come out of this?
And after pondering for sometime here’s what I came up with.
Even though it’s going to take some time to go through all the products and change the format, but I also know that most people won’t do it. That means less competition.
Also, I can still sell digital items, I just have to ship something to my customer by Ebay’s rules, so I need to put the product on the cd and ship it that way. That means I can charge more.
Also, since I’m shipping to the customer a physical product, I can include additional advertisements to create more future sales, because they will actually hold it in their hands.
The more I thought about it, the more I realized that in the long run, it can be more profitable and with less competition.
What looked like a disaster at first sight, actually came out to be a good thing.
Here are a couple of lessons that you can take from this.
First, make sure you don’t put all your eggs in one basket. Fortunately, this effects my overall strategy for making money online, slightly, since I have lots of products both digital and physical on and off Ebay. Never rely on one source of income. Something can happen and that one source can be gone and now you have nothing.
The key is to have Multiple Streams of Income.
Secondly, look for the good in any situation. Things happen for a reason, and they happen to help you accomplish your overall major objective. Even if they don’t seem like they’re moving you in the right direction, look closer until you’re able to find it.
It could also mean that you might have to change your strategy or the course you’re taking. That’s ok, as long as you look at it as that. A change in your strategy, and not a failure.
And lastly, become creative. Look for opportunities. This is what separates the great from the mediocre. Where everyone else sees a problem, the great ones see opportunities.
So the challenge is this. Look at some of your pressing issues right now, maybe some unexpected things that have come up, and see if you can find an opportunity there.
I bet if you look hard enough, you’ll find it.
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