I ran across these articles today and though they focus on startup development, I think they apply to site development as well, such as Brad's recent thread about room for another se.
"Sometimes the trick is to focus on a deliberately narrow market."
http://paulgraham.com/ds.html
Build A Product That Only A Few People Want--But Want Desperately
http://www.inc.com/rahul-varshneya/build-a-product-that-only-a-few-people-want-desperately.html
I'll add that "creeping grandiosity" (versus reality) ~in my own vision and that of my mentors and contributors~ has overwhelmed a lot of project ideas and killed them in the cradle.
Back in my directory building days I always said, Own the niche. I should have said, Own the paying niche.
There are always niches that the big boys can't be bothered with or can't do well. New immigrants have been seeing opportunities in little niches for a long time.
Quote from: Brad on November 12, 2014, 03:38:19 PM
Back in my directory building days I always said, Own the niche. I should have said, Own the paying niche.
Wish I'd thought of that last detail too!
The trouble is, everyone is told to "do what you know or love." You are a lucky man if that path happens to lie in the monetization universe for you.
"follow your dreams and the money will come"
A lot pf people I know have followed their dreams only to be disillusioned and in debt.
In many cases the biggest difference between a dream and a real livelihood is effective marketing.
The question always needs to be asked: What's your plan for reaching the people who'd want the product / service your dream would be about?
>In many cases the biggest difference between a dream and a real livelihood is effective marketing.
It's absolutely AMAZING how so many business succeed despite the owner/manger's ineptitude towards several facets of operating a business, marketing included. I only imagine what could be done if they were open to improvement, so I'm sure small niche stuff could work if it were marketed properly.
Also, I was on a lead gen webinar the other day and the way the presenter worded the best people to target:
irrationally passionate
nailed it.