Setting up a small business that will be your sole source of income calls for an intimate interplay between the mind and the heart.
It is a great risk that requires careful consideration and elimination of assumptions.
This is done through gathering the relevant information and putting it into use accordingly.
Before you invest in time and resources, examine your heart and determine whether that is the place you really want to earn your livelihood from.
You should gauge how suited you are to own and operate an enterprise.
Remember that you are not doing this for anybody else but yourself.
Having the desire to do it will be your number one motivator.
You should then look at other factors like sole proprietorship and partnership and decided whether you want to do it alone or in collaboration with another person or people.
Once you are fully decided, you can then start looking into the issue of coming up with a business plan, that is, putting your ideas into writing and looking at their practical aspects.
If you are convinced that the idea is viable and sustainable, then it is time to get a name for the enterprise.
You then get to decide where the venture will be located.
Once this is in place, it is time to look into how to fund the enterprise.
There are many sources for funds that one can explore.
Loans are the most common, especially those that emanate from Small Business Administration agency, a government controlled company that funds upcoming enterprises.
The funds can be used to do a number of things including renting premises, buying equipment or training personnel to acquire the necessary operational skills.