• Choosing A Niche – Profitability Vs. Personal Interest

    Choosing between profitability and personal interest is a question each app entrepreneur has to face. Is it the money solely that you are looking to make through the app? Or is it the personal satisfaction you will achieve from working on something you are genuinely interested in?

    Choosing A Niche

    If it is money that you are looking for, go for a niche where the likeliness to succeed is maximum. Do keep in mind that if you go for a niche such as gaming or social networking both of which are extremely popular, your competition will also increase a great amount. Going for a less popular niche which requires apps maybe a bit of a risk but can eventually turn out to be more profitable.

    On the other hand, going for a niche you are genuinely interested in may not be too fruitful in terms of revenue. For instance, 365perfect is a makeup application, which gives suggestions and tips on how to use make up it is highly recommended by its users but it only has approximately 11,000 users – and makes only a minor profit. By choosing to write an app for makeup the developers narrowed down there market segment. Niches such as social networking have an extremely large market segment where in there is no specific gender or age group hence it results in a larger number of users.

    Do You Have To Choose?
    No, you don’t have to choose. You can always play it safe and find a middle ground. Find a niche that interests you and is also profitable. It will be like making a compromise but working on something that you are really not interested in is not going to gain you anything.

    Most successful people agree that when you do something you are really passionate about not only does it make you happy but it automatically brings in money. If you do something you have sufficient knowledge about and you love your work, the quality of your work will be much greater hence it will be well like as well.

    So What Should Be Kept In Mind Before Choosing A Niche?
    This is a question every app entrepreneur has in his mind. Before choosing the niche of apps that you are investing on, there are certain things that you need to take a look at. Here is a look at some of these factors:

    • Make sure that you find it interesting. Your interest ranging from fairly interesting to extremely interesting.
    • Make sure the app idea is profitable. After all, you need to make an app that will bring even your cost of investment at least and you need to know that no matter what, you will at least break even.
    • Make sure the niche you choose is in demand.
    • Make sure your niche has a large market segment.
    • Make sure your idea is extremely unique and has never been done before.

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