The next great idea & how to monetize
Lets say the unlikely occurs: you have too much spare time and you want to come up with a great idea to build your next “web 2.0″ project around. Of course you need an idea that will (at some time) generate revenue. I mean: everything but the next Twitter.
This could get you going: have a look at subjects you’re interested in yourself. The obvious ones: your hobbies, your education, your work,… or something you’ve always wanted to do. It’s a good thing if you already know a lot about the subject. That cuts costs in getting content and of course shines off in the actual result.
Some guidelines when picking a subject/sector:
- An outlined niche is always good: the bigger the audience, the bigger your project will be.
- It’s easier when your audience is already accustomed to the web, but there may be less competition in “emerging” markets.
- Evaluate competition but do not let them dispose a perfectly good idea.
Take that subject and have a look where money transfers from one person or company to another. If no money is involved, it may be good to stay away (watch out for the Twitter-syndrome).
Now think about what you can create to:
- Improve/enhance the way “business” is done.
- Raise the income that is made out of each action.
- Make the whole process easier.
Depending on the subject you chose, that should not be that hard at all.
And that’s it: if you picked a good subject you should already be motivated and full of ideas. Just find a nice URL and get going!
Some examples of projects along this line: flickr, Adwords, eBay, Basecamp, Blinksale, Copilot, SeoMoz,…
Tags: small business
