The first step to initiate planning is to identify asuitable project. To start your own venture you have to decide on many things.Making a choice of the right project is a difficult decision for anentrepreneur and is an imperative decision.There are no set rules to identify asuitable project, though this is one decision on which the success of yourentire venture hinges. So, don’t take hasty decisions. Most prospectiveentrepreneurs tend to display the herd tendency and go for a project, whichpeople have already ventured into. This is not a healthy attitude as success ofone in a particular field does not guarantee success of the other. Whileidentifying a suitable project, you should make a SWOT analysis of your ownstrengths and weaknesses.