Success isn't guaranteed. Hard work and motivation are the perfect applications for a thriving small business. In this day and age, being and entrepreneur takes guts and money. Be sure you have both and are ready to work harder than you ever have.
1. Have a great idea. Feel out friends and family and get honest feedback. Trust your gut.
2. Create a detailed business plan and find a strong small business banker. Take recommendations from similar small businesses and do interviews of bank personnel.
3. Watch your cash flow and develop and understanding of your P&L statements.
4. Know your skill level and strengths. If you're a creative type and out in front of your business, bookkeeping may be a challenge; hire a great bookkeeper and CPA. Get the right people to make up your team.
5. Don't quit. Failure isn't an option. You'll have ups and downs but keep pushing forward. You'll only fail yourself if you quit.