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Identify Your Passion

It's important for entrepreneurs to be passionate about the businesses they start. Identify the things in your life that mean the most to you and get you excited. Determine how you can turn those things into a profitable business idea.

Recognize a Need

Before moving forward with your business idea, determine if there's a need for what you plan to offer. Come up with a general idea of the type of customers who would benefit from your product or service. Determine the areas you want to service and identify any competitors who offer a similar product or service. Determine how to differentiate your business.

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Visualize Fulfilling the Need

Decide how you'll fulfill the need, while positioning yourself differently than your competition. Develop a unique selling proposition, which can help you as you determine goals for your business and begin to write your business plan.

Develop Goals

Come up with a list of goals for your business that outline what you want to accomplish during your first year. Make them specific, measurable, attainable and timely.

Create a Financial Plan

Create a financial plan which outlines how much money you have in your savings to support you while you get your business off the ground. If you find that you're not financially sound enough to quit your current job, continue working or reduce your hours to part-time while you work towards becoming an entrepreneur.

Your financial plan should also list other sources of funding such as friends, family and whether you plan to take loans to finance your business. Include your start-up costs.

Find a Team of Advisers

Successful entrepreneurs enlist of a team of advisers who help them navigate their way through starting and running their own businesses. Find a mentor by working with a small business association in your area or hire a coach to help guide you. Surround yourself with friends and business colleagues who you can brainstorm with. Local business and professional organizations also give aspiring entrepreneurs a group of people they can share their experiences with and receive advice.

Develop a Business Plan

With the support of your team of advisers, begin to craft a business plan. The length of your business plan can vary depending on the type of business you plan to run. Essential sections of a business plan include management, operations, marketing and financial. Include the financial details you put together when you created your budget.

Make the Transition and Promote Your Business

Begin to transition from your current career into your lifestyle as an entrepreneur. Use the marketing section of your business plan to guide you as you begin to promote your business to potential clients.