Jenna Zebrowski, JD, MBA
I also recommend networking and referrals. My best clients come from my network. Get to know people that know people that want/need your services and provide excellent customer service and the solution to their problem.
You should have savings to invest in the business before you start it- you'll need to legally incorporate, you'll need tax advice and bookkeeping help, and you will need a plan to get customers and make them happy. It's a good idea to get a mentor and spend some time on the non-operations part before you start (legal, tax, accounting, marketing, employment, etc.). I spend a lot of my time working with business owners who didn't invest in their business properly, then they have a tax or a legal problem, and sometimes they have a lot of exposure, which they would not have had if they had done it properly from the beginning.
So, get familiar with the operations of the business, get to know a lot of the right people in your network, and get some advice about the other parts of running a business and the help you will need to do it right. Good luck!
If you find that your dream is worth pursuing further, write a business plan. Map out your goals and milestones. The business plan will help you uncover what is needed to start the business: how much capital (funding) you will need, who are your potential clients, where your operations will be located, number of employees needed to operate effectively, barriers to entry (what is involved with starting your particular business and how difficult or expensive will it be?), exit strategy (when you reach a certain point in your business, what will you do with it? dissolve it, sell it, merge with another company or expand to new markets, go public, etc.).
Be inspired and don't be afraid to aim for the stars! Steve Jobs started Apple in his garage.
Is there something you have learned in this pursuit that will be valuable in application to a related business or industry? What would you bring in terms of knowledge, skills, allies, financial backing that would entice others to join you in the business(es) you are considering?
The same above thoughts should come to mind should you be working in a company and see opportunities to spin off from that job; to utilize what you have learned to begin a business. A business you have a passion for. A business offering you the opportunity to provide what it is prospective customers are seeking.
Look at yourself as an asset. Will your friends and relatives invest their hard earned dollars in you and your start-up? What would make them consider that you know what you are doing and offer financial help? What do you lack? Can you obtain the knowledge and skills lacking or can you find someone to partner with who has these skills?
It is now time to do your homework, consider what it is you know, what is it you suspect and what it is you do not know. Accept the excellent advice that others have included here for research to lay out a plan.
Bob recommends the following next steps:
You can also visit https://flvec.com/resources and find resources in your area. There are organizations like SCORE and the Small Business Development Center that may be able to recommend the best resources and connections based on where you are at with your business.
Some recent examples I've seen people doing is:
-Selling products on Amazon which they bought in quantity from Alibaba
-Setting up a water filtration plant in areas where it can sold with minimum legal requirements
-Setting up trailer restaurants
-Building new apps based on random ideas generated at small costs
-Trading cars with minimum investments to generate some money on side.