If you're interested in starting a business in an industry in which you have no experience, first become an employee in someone else's business serving that industry. For example, if you want to open a retail bakery, apply for a job at a company that would ultimately become your competitor. Long-term planning skills are also essential. Develop a vision for your business one year, two years, five years and longer into the future. Then create a game plan that will lead you to your long-term goals.
Many types of businesses are cyclical.
Different seasons or months of the year are often better than others. Economic problems over which you may have no control could affect your business. Even bad news about another company in your industry could negatively impact performance. Proper planning will help you capitalize on the good times and limit your downside during the rough periods. Starting and owning your own business is not an easy undertaking.