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Do you desire the lifestyle choices it offers? The better money? The chance to test your skills and initiative? Here are five important things to consider before you make the leap.

1. Assess the risks and mitigate them

Ask yourself: What's the worst thing that can happen if the business doesn't work out? Can those risks be managed?

One way to mitigate your risks is to build up, or double, your emergency fund, and take out loss of income insurance. Some insurance providers will sell you start-up income protection.

2. Go low risk

If possible, look for a business that requires few if any overheads perhaps one that relies on your expertise than actually buying and selling stock, for example.

Starting a business that does not need to move stock, purchase or hire machinery, employ staff and rent premises takes a lot of the risk out of the equation.

3. Be prepared to sell

Sales are your most important business activity. Without sales, you don't have a business. Don't think you'll leave the sales to somebody else because sales are too important to be ignored in the start phase.

Be prepared to pick up the phone and knock on doors. Tap into your networks and start talking to people. List your potential customers and identify good referral sources.

Build and maintain good relationships, and make sure you have a good website that works to capture customers.

4. Assess your health and stay in good shape

Going into business for yourself makes you your own boss, and you are probably going to be the toughest boss you've ever worked under. Make sure your health is good, and aim to keep it that way, because when the business is depending on you... sick days are going to be a luxury.

5. Resilience and self-start-ability are more important than a business plan

Make no mistake, a business plan is critical. You shouldn't start a business without one, but it's not the business plan or the sales plan that's going to get you through the setbacks, the ambiguity, and uncertainty; the inevitable disappointments.

Do your research. Make your business plans, and prepare for contingencies, but most importantly know why you are doing what you are doing and why it is one of the most important things you have ever done.

Believe in yourself, because that's where your resilience comes from.

If you can do that, the kingdom will be yours.