How does one discover the best venture to pursue without losing as much capital? A lot of people will argue that conducting adequate due diligence will prevent one from losing capital. While this is the case, it is always better to quit searching and delve into testing ideas and experimenting with various skills. This will help an entrepreneur learn in good time, what works and what doesn’t. Testing ideas can also help an entrepreneur fail forward by learning from their failures and success on time, and implementing the lessons learnt in their later venture, to record greater success.

If you fall into the category of people who find it difficult to select a niche to work with, the following steps will guide you on the niche most suitable for you;

1. Determine areas of interest and things you’re passionate about

Many people invest in profitable ventures only to make a profit, without any form of interest or passion for the chosen investment venture. It is, however, advisable for an entrepreneur going into a business venture to delve into a niche in which they have built interest over the years. In doing so, the pressure that follows business establishment may not necessarily force an entrepreneur to give up if peradventure, the business fails or experiences some hiccups initially. There is also a greater possibility that a person will put in maximum effort in a business they are passionate about compared to a niche with less interest. To easily identify ones passion, a list of things the entrepreneur enjoys doing, reading about, and working on can be made.