Hi Isaac. Maybe I can help. I started a business and made a living with it. I've learned this is really rare. The vast number of businesses fail, and they take the investments of the owner with them. A person can wind up without a business but still owe a ton of debt.
The easiest answer to your question however is....luck. And you have minor control over that. If anyone tells you luck doesn't play a big part they are wrong. In a moment I will show you how to increase the odds for being lucky. First the typical.
You have a great idea. You investigate it. You find a store to rent. You set up a website. You borrow some money, hire a couple people and fill the store with inventory you hope will sell quickly. You open your doors and.... now luck takes over. It will have a big hand in your success, or not. There are a ton of variations on this scenario, I'm sure you get the idea.
Over 50% of the time the business will fail within the first 5 years. Failing means the owner may wind up with a lot of debt. And I can assure you in the other 50% the majority are struggling and more will go under. And business owners can often expect to draw no salary or reduced salary the first year or so. That was my case.
So...still wanna be a entrepreneur?
Here's how to increase your luck and odds of success. I've seen this work several times and I'll share an example using professional engineers....you can apply the idea to whatever industry/job you are interested in.
HOW TO GET PAID TO START A BUSINESS
I worked at a company one time that had a lot of engineers who designed and invented things the company used in the industry they were in. But the engineers also had to keep an eye on the industry as a whole---so that they invented things most helpful to the company. Well, darned if a couple of those engineer folks didn't get an idea for something that would solve a large problem for all the businesses in the industry. The light went on. They wanted to start their own business with this idea. They kept working at our company for another 8 months, but they called a few of their acquaintances in the industry and bounced the idea off of them. It was positive feedback. Two of their acquaintances even said they'd buy the item if/when it was ready. So the folks I knew quit the company where I worked with them and started their own. Since they were 'insiders' and already had a couple 'orders' in their pocket they had immediate industry respect and their product was in fact a hit.
And THAT'S a way you can start your own business with the least risk and best likelihood of success.
When you've made your millions we'll re-connect and you can send me a huge check!! (kidding) Good luck.