Having a business is like caring for a child. Constant attention is required to generate positive returns. Building and following a business plan is the first step.
      Answer1:First step is creating a business plan. Thats a written document that describes the business you want to create, all the things you need to do it, how youll finance it, and how much you expect to make and what customer base you need to get there, among other things.
      Answer2:Before you get started the first thing you should do is check out the competition. See what is working for them and what is not working. I assume you already know what the business is that you want to start. So try to make your business unique from all the others. Next would be to create a business plan. Start up costs add up quickly. Rent, utilities, city license, state license, phones, fax machines, hiring an accountant, purchasing inventory, advertisement, etc. Because of the start up costs and your business is unknown dont expect to make much profit the first year. Generally it is known that 3 years is the window for a business to really start showing decent profits. it all depends on your drive and motivation. Keep in mind in order to keep the cost of doing business low you will be working more hours than you probably ever have before. On the other hand if your business is going to be online then your costs are drastically reduced.