This is an idea that came to us just yesterday. I happened to use voicenotes and couldn’t help it but to try upload one of my audio files for transcription, and they didn’t have this feature. Take a look at the Opportunity Assessment and see if it inspires you too.
Product Opportunity Assessment
- Exactly what problem will this solve? (value proposition) – transcribe audio files
- For whom do we solve that problem? (target market):
- Content Producers (YouTube and the like)
- Call Centres
- Authors
- Podcasters
- How big is the opportunity? (market size):
- 81.4K users on voicenotes.com
- How will we measure success? (metric/revenue strategy):
- Response Accuracy
- Response Time
- Monthly Active Users
- Retention Rate
- What alternatives are out there now? (competitive landscape):
- PodSqueeze
- Voicenotes
- ChatGPT
- AssemblyAI
- Why are we best suited to pursue this? (our differentiator) –
- Focused on audio files bigger than 25 MB
- Transcribe to different languages
- Implement audio recording from mic like Voicenotes that allows to prompt the chat instead of using the transcript for it
- Why now? (market window):
- It will get over-saturated as new ai apps are being launched daily
- How will we get the product to the market? (go-to-market strategy):
- Product Hunt
- Hire manually first customers
- What factors are critical to success? (solution requirements)
- Implementation of buffer uploading to chunk audio files in pieces below 25MB
- Deploying the app locally on namecheap to allow access to the Database
- Given the above what’s the recommendation? (go or no-go) – Go, the project is fun, there’s a lot to explore with the openai api’s and it will get us on the right track for bootstrapping a new project every week or two.
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