I gave this talk at last week's WordCamp Cape Town and thought that I'd post some of the details here (a video of my talk should be up soon).
As an introduction to my talk... I've been making money with WordPress for many years now and WooThemes is almost 4 years old with 45k paying customers. And lately I've been thinking a lot about how WordPress mimics other industries worldwide and how it has thus become ripe for the picking for entrepreneurs
Here's some of the highlights from my talk:
- Slides 6 - 18: I believe that WordPress as a community, should instead be seen as an ecosystem with its own economic principles applied. And within this ecosystem we currently have many money-making opportunities (custom services, themes, plugins etc.)
- Slide 15: I think we're going to see more hosted, SaaS-like apps appearing for WordPress in the very near future. See my previous post - WordPress + SaaS - for elaboration on this.
- Slide 19: There are so many opportunities left for entrepreneurs to fill the gaps and monetize their proposed solutions. Considering that the latest stats reveal that WordPress powers something like 15% of the whole web, there are millions of users out there looking for specific solutions.
- Slide 20 - 22: I also see an alternative view to this WordPress ecosystem. There are multiple companies that have built loyal customer bases comprising of thousands of users, which in their own right becomes a niche market. Take WooThemes as an example: we've got 45k-odd customers, which is a pretty considerable niche opportunity. Could you develop something that specifically targets these 45k WordPress & WooThemes users? I think there's a bunch of very attractive opportunities out there for this.