The following are a few of the essential steps that need to be taken as you prepare to open the door and enter the world of entrepreneurship:

1. Research what services or products you would like to offer.

2. While doing research, study your competition. Do they seem to have more business than they can handle? Are they doing a good job? If you find that your competitors seem to be doing well but still want to enter that arena, find a niche! Figure out what it is that you can offer that they cannot or something you can do better!

3. Make a firm decision on what business you are going to pursue. This is an investment of time, money and resources that you need to commit to so make sure it's something that you will want to continue.

4. Complete a business plan. Look online for examples of business plans. At the very least, create an outline.

5. Investigate the possibility of legal requirements (business license requirements) or zoning restrictions in your community, county, or even homeowner's association if you are working from home.