There are some points to consider first time entrepreneurs.
1 - Start a Business you are passionate and knowledgeable about.
2 - Pick a business idea that has a big market opportunity.
3 - Raise much startup funding.
4 - Constantly monitor your finances.
5 - Research competition.
6 - Ask advice from other entrepreneurs.
7 - Hire the right peoples.
8 - Never stop networking.
9 - Provide best customer service.
10 - Hire an experienced startup attorney.
11 - Get comfortable with public speaking.
12 - Focus on building a great products or services.
1. Ask the right questions, listen carefully to advice, but form your own answers.
2. Don't run out of cash
Do it. Pull through. Don't give up. It ain't over til it's over.
This first time will set your rhythm and define your approach to entrepreneurship.
Read as many books as possible on successful and failed ventures and related material! so much to learn and helps keep up the motivation.
This is a brief list of my favorites so far: (please share yours!)
The intelligent entrepreneur
The Lean Startup
Grit the passion for success
plan ahead first. Do not just leap into business hoping for the best. Have plan A, B, C and D
Don't be afraid to make mistakes.Think deep and give it a try. You either succeed or you learn.