Begin at the Beginning...
First, write down ideas - both positive and negative for why you want to start a business.
Don’t you weary of old adages? But they are true. Why do you want to run your own business? You first need to sit down with an old fashioned pen and paper (okay - you can use a computer) and list the reasons you think this is a good idea for you. Don’t question it. I can hear many of you say, “Oh, I know why. I don’t need to do this.” Trust me on this one. You need to list both the reasons you want to do it and the reasons you might not need to do it.
Do you have enough money in the bank to cover one year of no income from your business? Well - do you? First, you have to know how much money you need to live for a year without taking an income. I do wonder how many people know this. There are plenty of apps and programs on the internet that will help you do this. MINT is a great one, and it also allows you to set budgets, find credit cards with less interest (how much interest do you pay a year?), and keep up with exactly what you spend on each category. Even if you aren’t interested in running a small business, I highly recommend this program.
Do you have enough money to start the business? Even if you are going to become a cosmetic consultant, you will need to purchase something - perhaps some inventory, marketing materials, etc. How much do you need? This depends on many things. Are you interested in a brick and mortar store or are you interested in an internet business only?
Have you done the research on your competitors? You will have them. If there are no competitors, there may also be no need for your product or service. Find them with keywords that describe the business you want to start. Consulting? Consulting what? Is your background in healthcare? Google it. Find out who is offering a similar service or product, and see what they’re prices are. Research is invaluable in this process.
Do you have a strong support group of people who believe you can do this? You’re going to need it. Family, friends, former coworkers - the emotional and mental support is vital to the many down periods you will feel when you wonder why you did this.
What are your strengths? Weaknesses? Look online for a career test and find out what you do well. Ask those you know who may be objective (I’m horrible at accounting) and see where you are weak. You may need to take some classes to improve that missing skill.
When you begin hiring, you will need people who are great at doing what you are not so great at. I don’t hire “yes” people. I look for people who have the skills I don’t, and are better than I am, to grow my business.
Start at the beginning. See if this is truly what you want to do. Be serious - are you doing it because you’re mad at your current boss? You think he/she doesn’t know what they are doing and you could do it better? Perhaps you can - perhaps you can’t. Establish that skill set needed to make a success and be relentless about it.