1. Start now.
Begin by simply giving the possibility of creating your venture some serious consideration.
2. Find a niche.
Your journey to entrepreneurial glory can’t begin until you have a product or service that people will pay for. Do you already know what your business will be? Great. But don’t rush to place a full-page ad in the newspaper just yet. If inspiration hasn’t struck, there are lots of ways to find it. For example, use the internet, scan the classified ads in newspapers, walk down Main Street — or through a mall. Pay attention to how others are making a living on their own, and tune in whenever you hear, “I wish there were someone I could call to ….” Then, make a list of things you know how to do.
3. Stop to look and listen.
Talk to everyone you know about your idea — but don't take everything you hear to heart. You'll get good advice, helpful insights, and a hefty dose of discouragement. Still, great ideas lurk in strange places, and disclose themselves when least expected.
4. Slow and steady still wins most races.
Set your sights on developing a modest "backup" source of income — not on creating a new corporate empire. Micro-mini businesses expose you to micro-mini risks.
Read more tomorrow in our Part 2.
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