Suggestions for market pivot requested

[J. van Driessen]

Hi all,

First, let me say I'm new to this forum and have found great value here. I will do whatever I can to add value back to the community.

I have come up with quite an innovative idea for a webapp for freelancers / small businesses to create invoices for meetings / appointments / hours performed. Potential users are: DJ's, consultants, coaches,...This would be a Software As A Service business, with a cost for the user between 50-100 dollar.

I have completely worked out the requirements for the tool (including data model, design considerations, mockups of screens etc), and created a Job on oDesk. I currently have 20 applicants for the job, and the average estimation for the cost of building the basic version of this product is a few hundred dollars. As I have a strong technical background myself, I feel comfortable we can build this product.

Although in theory almost every freelancer could use this tool, my idea was to focus the tool first on one niche, get high satisfaction within that niche, and later expend it to other niches. The niche I wanted to focus on first, is DJ's (as I am a DJ myself and understand the market). However, I start having doubts or whether or not this is a good first niche, as I fear too many DJ's would not be willing to pay for the service and just use Excel instead.

The questions I have:
- Should I focus on a niche first?
- Do you have ideas for other markets that could use this product that I could focus on first?
- Do you suggest to start charging the users right away or first have a free version? I feel having it free in the beginning is good to get as much feedback as possible and build a better product, but then I don't know if the users are willing to pay for the product.

Thank you all very much for the input.

 

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[Andy Black]

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