There's a myth that, regardless of which niche you choose, the internet is big enough to make your business a success. But in reality, most successes come from targetting a big (or fast growing) market.
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Seth Godin advises to “begin with the smallest viable market. What’s the minimum number of people you would need to influence to make it worth the effort?”
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But, I think you still need to look at the broader picture: what is the *total* addressable market? If you need to get 1,000 customers to make something viable, but the total market is only 10,000, it's going to be really difficult to convert enough people to customers.
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Typically, we start our funnels at "number of visitors" but in reality the funnel looks like this: Total market > Visitors > Trials Your "market to visitor" conversion rate will be lower than you think.
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My company (
@transistorfm)'s biggest competitor is Libsyn. They host 62,000 podcasts. There are 700,000 podcasts on Apple Podcasts (it grew by 100,000 in the last year) What % of podcasters know about Libsyn? What % know about Transistor?Pokaż ten wątek -
What's an example of a good niche? Shopify stores. There are over 500,000 active stores running on Shopify. These are businesses, with revenue. They will gladly pay you $ if you help them earn $$$ more from their store. (my friend
@JordanGal, at @CartHookis banking on it!)Pokaż ten wątek -
There are certainly exceptions, but I’ve seen data from hundreds of indie businesses. Almost everyone who is consistently earning more than $10k / month (and certainly those that break $50k) targeted a large, or fast growing, market that they could reach efficiently.
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If you're considering going after a small niche market (and want to know the pros and cons) definitely check out
@justinvincent's interview with@ted_pitts &@harryhollander from Moraware.
http://techzinglive.com/page/1080/190-tz-interview-ted-pitts-harry-hollander-moraware …pic.twitter.com/nzeYBeyKocPokaż ten wątek
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Enterprise-SaaS or high-margin + easily shipped can go small niche. Otherwise, you probably want a large addressable market. Of course, you can always try to gain in multiple niches, but I haven't seen that be too effective.
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100% agree. My bet is on accessibility. It is such a huge opening in web dev market.
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Wydaje się, że ładowanie zajmuje dużo czasu.
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