Yes, aptly put. But I recently graduated from college and having holidays before I join a firm. So just did that for fun. Salary-wise, maybe I would put in additional Rs. 10,000 ($250) for six days. But that is still extremely bootstrappable.
But the point you mentioned: market research
I would go around trying to find out what people in my surrounding are really craving for in the internet and then try to create that.
But paraschopra, the name matters too. The name should be 'remember-able' or 'recall-able'.