My original idea was to build "a live-video youtube" but Justin.tv and uStream showed up just a few months after I got started, and the dream died. Since then, I've launched four search engines (two of which are keeping me ramen-profitable), a twitter app (wasted time), and a "viral" site based on comparing movies (didn't go viral).
With income from my two main sites dwindling, I decided I would try moving away from web apps, and focus on building a product. Patio11's success with the bingo card niche has been my main inspiration. After a few weeks of iterating through various ideas, I decided to put my skills with the camera to use, and started building a collection of layer styles.
My goal is to corner the high end of the layer styles market. Launching this site is the first step, but it will probably take a few more iterations to get where I want. Based on my research, there's at least 250k in yearly revenue up for grabs, and room for growth.
I finally launched the site yesterday, and now I'm looking for feedback. Please check it out and let me know what you think. Thanks.
PS: If you have a design related blog/forum/etc, and you want a review copy or a free copy to give away to your readers, just send me an email (john.at.blamcast.net)