There are many factors to consider when choosing a niche, but it's best to start with what you know. If you have an idea for a product or service that you're passionate about, then it's probably worth exploring that niche further. You should also think about which industries are most profitable and how much competition there is in your desired niche. Some people choose to be jack-of-all-trades by starting a general business that offers services in multiple industries. Others choose to specialize in one industry by starting a company that provides products or services exclusively for customers in that industry.