niche != small market
I confused the concept of niche in entrepreneurship with the small market. They are not the same.
There is no problem if the small market size is enough to build a monopoly or if it has signs of growth. Otherwise, I should pick the niche in a vast market and then expand.
I chose a screenshot API as the first project with which I want to make money. But the market seems to be too small and has a lot of decent players. Anyway, it is a good challenge to tackle by itself. What options do I have?
- Be the top player in the market to acquire customers.
- Add features related to image processing and screenshots.
- Start building more APIs and expand into the marketplace? It is probably not possible since the current project has its precise branding for taking screenshots.
I will try to make the top solution and add features related to screenshots. And then, I can build a separate API marketplace that integrates screenshot API.
For the following projects, I must learn about the market I will jump in.