A real need but narrow range prospects

[SM Switi]

hello guys
If you caught a real need but with narrow range prospects less than 1 million world wide and nearly 100,000 active users using online products specified for this category of people, at the same time your intended product can't be charged for more than 5 dollars - one time purchase- , but their need nature regular use of it will be monthly mostly and weekly on average ,sometimes more,would you still invest time and effort in such a product ?

 

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[garyjsmith]

How much time does it take for you to develop? Can you cut that time in half? Does it free you of your time once you release it into the world?

 

[SM Switi]

How much time does it take for you to develop? Can you cut that time in half? Does it free you of your time once you release it into the world?

3 months 7 hours a day, what do you mean by cutting that time in half ? ,and yes after releasing it wont be requiring much time from me anymore

 

[garyjsmith]

3 months 7 hours a day, what do you mean by cutting that time in half ? ,and yes after releasing it wont be requiring much time from me anymore

By cutting time in half, I mean, can you find a better way? Can produce the initial concept and hire someone to do the rest of the work in a shorter amount of time.

 

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[SM Switi]

By cutting time in half, I mean, can you find a better way? Can produce the initial concept and hire someone to do the rest of the work in a shorter amount of time.

my financial situation does not allow me to hire anyone , and it's okay am in the IT field so I wont be needing to learn anything new but a designer little help I may be getting, and also am okay with 3 months of work I just don't want to waste those months if it's not worth it even though satisfying this need gonna provide so much help for some but if I can't live off it or at least bring some cash flow into my income I will be losing , and I have lost before ..... it doesn't taste good

 

[Puppy]

3 questions

1. are you already wealthy?
2. are you already selling profititably to another market?
3. why do you think this idea might not be worth it for YOU?

 

[garyjsmith]

.. I have lost before ..... it doesn't taste good

I know the feeling. If it does take off, or you gain recognition for your feat, that's more than you expected, right? I've helped others with game design elements (digital paintings) which haven't yet gone to production but have gained me recognition and now I'm working for another game studio creating more of the same. I had no idea someone would look at one of my painted textures and want me to jump aboard, but it happened. Instead of wondering "what it I fail," look at the other side: "what if I succeed?"

 

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[SM Switi]

3 questions

1. are you already wealthy?
2. are you already selling profititably to another market?
3. why do you think this idea might not be worth it for YOU?

first answer: No
second answer: No
third answer : because even though I want really badly to provide value and help for this category of people , but firstly this gotta help me too financially , I have drafted through a previous such thing that would help others kinda charity application and it did me no good at all but wasted 6 months of work because I didn't study the idea well before execution and let my humanly emotions take the lead, so now I need to study this scenario financially very well since i do need to generate profit at this stage

 

[wade1mil]

If you caught a real need but with narrow range prospects less than 1 million world wide and nearly 100,000 active users using online products specified for this category of people, at the same time your intended product can't be charged for more than 5 dollars - one time purchase- , but their need nature regular use of it will be monthly mostly and weekly on average ,sometimes more,would you still invest time and effort in such a product ?

Are there more products your market needs and is willing to pay for? It would be nice if you had the opportunity to increase your lifetime customer value through more products/services, more customers, higher profit per unit, etc.

Also...even if this product won't make you millions, it could be a great opportunity to start and grow a business if you've never done it before. You can use the experience you gain from doing it to create and grow a bigger business later, rather than relying on theory.

 

[SM Switi]

I know the feeling. If it does take off, or you gain recognition for your feat, that's more than you expected, right? I've helped others with game design elements (digital paintings) which haven't yet gone to production but have gained me recognition and now I'm working for another game studio creating more of the same. I had no idea someone would look at one of my painted textures and want me to jump aboard, but it happened. Instead of wondering "what it I fail," look at the other side: "what if I succeed?"

of course I have learned a lot from that experience in that area it's not a lose and even though my next projects may fail too but certainly am growing stronger with each fail and each will promote me for real success

 

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[SM Switi]

Are there more products your market needs and is willing to pay for? It would be nice if you had the opportunity to increase your lifetime customer value through more products/services, more customers, higher profit per unit, etc.

yes actually there is I have done a bit of research on that and found some physical products I can offer them also I have thought of building a community aside with the initial product which will also be helpful