Having just been recently laid off, I would like to give some attention to an idea that's been incubating in my mind for a while for an information-based product. This is similar to the model of Internet Business Master Academy, where your product is courses/material on some specialized topic; your free content is useful, the premium content is the how of it.
My question is how do I evaluate (in the most cost-efficient manner):
- If there's a demand/market for my product
- The pricing point of my product ($5 or $500?)
- If it's useful to people (related to #1)
- If it has a potential of reaching $5000/month of revenue (or conversely, if it's fundamentally flawed in a way that would prevent this from ever happening).
The worst case is "build it and see what happens." I'd rather not invest 100+ hours into that without knowing up front that it has some shot at making decent money.
I should mention that I have something of a good background in my product domain (game development), albeit that I'm not nearly an expert.