How to evaluate the success?

For a new online project ...

[dangerx]

Hi,

For quite a time I was thinking and preparing (more like morally :) to start a new niche website. It will provide professional reviews, descriptions, comments etc. about some widgets.

The only problem is that the widgets are no the everyday product, so people do not search for those like for p.rn or free downloads :)

However, the general keywords (but not exactly about the widgets) are rather popular and will continue to grow in the future to my opinion.

Now the problem. I do not myself see the motivation to start an authority website, to spend my evenings and to sacrifice my free time for the website which, I am not sure, will it bring money or not ...

So, how do you guys guess it? Do you perform some kind of market poll? I asked most of my friends, they seem to support the idea, but for me that is not enough.
How do you know from your experience how many visitors I can expect with a given keywords. Most importantly how do you know that people need this kind of widget reviews at all?

Thanks for your opinions.
FX

[solly]

If it is fun and you want to do it, go for it! (As long as it hurts no one and ain't illegal.) If, however, it doesn't sound like fun, don't do it.

You will need something to keep you going through the tough times, and if you aren't having fun, you will probably easily give up...find something you like to do and keep at it...money will come later.

[AjiNIMC]

You surely need to assess the need and more imp, the ROI. "I" - the investment part can be calculated as you know what you can stretch the limit to. R- the return part needs to be calculated properly with proper MR (Market research).

If ROI === close to your expectation at various optimistic and pessimistic levels then go for it and have fun, else redo the calculations.

AjiNIMC

[etechsupport]

An estimated (adjusted) value and the observed value; specifically, v = µ x -x where x is an observation of the estimated value µ x