G
Guest92dX
Guest
Hi everyone!
I'm currently building a web based product. It's not entirely SaaS. It has a hybrid business model based on what I think the niche needs.
This is not a super large market, but it's not small either.
If you're wondering what my other failed ventures are they were good ideas, but I ideas I can't execute on for lack of money or know how. My first idea was bad though.
I would suggest to everyone that you pass on trying to sell a PP (Provisional Patent) if you don't have a ton of capital and money for leads and travel. I would even suggest passing on licensing real patents because you need tons of capital and tons of leads plus industry knowledge. All of these are great barriers to entry, but your life will be terrible trying to sell a product you can't execute on well. You'll just feel defeated.
So, I found a niche where the number one problem people have hasn't been adequately answered.
I started marketing the product before I built it.
I placed bids on competition keywords as I couldn't find natural search traffic. However, the competition has millions of users and revenue with different products so I feel confident there may be a space for a product focusing on one key area of innovation: Quality.
I received an 11% CTR and then 26% when I optimized. (On page CTR)
I also emailed industry news outlets. They were interested in running a story on the product, but I blew the pitches, which made them want to wait to see more.
The third thing I did was focus on getting feedback on the concept. Multiple times I heard about the #1 issue. I talked to multiple people who confirmed this problem.
I even had a couple active leads.
What I'm doing now is focusing on building the product. It should be doable with the resources I have.
I've given myself 6 months to build the basic product.
Time will tell if the reception is as good as when I tested.
I made this thread to keep me accountable. I'll update it as I'm going along. There won't be daily updates, just updates at inflection points.
I'm currently building a web based product. It's not entirely SaaS. It has a hybrid business model based on what I think the niche needs.
This is not a super large market, but it's not small either.
If you're wondering what my other failed ventures are they were good ideas, but I ideas I can't execute on for lack of money or know how. My first idea was bad though.
I would suggest to everyone that you pass on trying to sell a PP (Provisional Patent) if you don't have a ton of capital and money for leads and travel. I would even suggest passing on licensing real patents because you need tons of capital and tons of leads plus industry knowledge. All of these are great barriers to entry, but your life will be terrible trying to sell a product you can't execute on well. You'll just feel defeated.
So, I found a niche where the number one problem people have hasn't been adequately answered.
I started marketing the product before I built it.
I placed bids on competition keywords as I couldn't find natural search traffic. However, the competition has millions of users and revenue with different products so I feel confident there may be a space for a product focusing on one key area of innovation: Quality.
I received an 11% CTR and then 26% when I optimized. (On page CTR)
I also emailed industry news outlets. They were interested in running a story on the product, but I blew the pitches, which made them want to wait to see more.
The third thing I did was focus on getting feedback on the concept. Multiple times I heard about the #1 issue. I talked to multiple people who confirmed this problem.
I even had a couple active leads.
What I'm doing now is focusing on building the product. It should be doable with the resources I have.
I've given myself 6 months to build the basic product.
Time will tell if the reception is as good as when I tested.
I made this thread to keep me accountable. I'll update it as I'm going along. There won't be daily updates, just updates at inflection points.
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