Because of language, demographics, the industry, and government regulation, I estimate a niche I'm presently considering operations in to be about 1,400 individuals. The good news is that it is growing, rapidly, albeit on a small base. Further, they have money to spend and they do spend it. My product idea (untested atm) has no detectable competition. I'm eager to proceed to testing, based on the fact that I'd buy the product if it were out there.
But this is a well-heeled group. They're small. I can't see putting out a $9 product, which I could present rapidly, particularly when I see these people at conferences. But I also don't want to risk the next three years developing a comprehensive product worth, say, $9,000 and get beaten off the blocks...
Is a niche of this size just too small? What are some things to keep in mind during product development to this group, as I've described it?
Feel free to completely derail this train if it's on the wrong track...
I've just created a new digital training (22 videos mp4 + xls/doc/pdf files) and I wondered about what is the best way to deliver it: through a membership site (with 22 integrated videos), or through a direct download (like a zip file containing the whole package) ?
I listed Constative.com for sale to afford me time and resources to build Palness.com. I had in mind to sell at 70k or something around that figure. Brokers evaluated it to worth $90k - $105k but I don't want to wait too long to sell.
The site receives 150k users monthly with up to 400k page views. All the traffic comes from Google search. The niche is celebrity news and current affairs. The website currently has over 2,000 green articles.
I've had several newbies PM me recently about their struggles to find helpful information online when they don't have a real budget on which to rely to help them get started in online business.
I inquired if they have used Google operators to search for their information "outside" this forum and "outside" paid products. None had a clue what I was talking about. I made a related post years ago, but apparently no one has found it - why should they if they are not looking for this information?