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How to choose a niche for your business?

Evaluate your strengths.

From everything you are passionate about, what are you strong at? Some of the strengths can be industry knowledge and experience, the ability to work alone, the ability to create and manage teams, the ability to create networks and use business connections, the ability to accept rejection, creativity, the ability to raise money and many other things that you can bring to a business, as an advantage.

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Similarly, review your previous work experience and education. Is there something in your work or education history that you can bring to your business and use this as an advantage?

You should also avoid starting a business that reveals your weaknesses. For example, if you do not know how to program, an attempt to engage in a technical business or a mobile application business will immediately put you at a disadvantage compared to engineers who can start a similar business.


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