Rhonda Abrams The Passionate Entrepreneur

Of course, it's scary to make the big move into entrepreneurship. I was nervous, too, when I launched my own business 20 years ago. Since then, I've had great times and not-so-great times in my businesses. There have been times when I ran out of money, and times when I was rolling in cash. But I've never once missed having a boss.

In my columns for today and tomorrow, I'll share some strategies for starting your new business successfully. Here's the first batch:

• Do a reality check

  What will you give up if you leave your job? Can you financially manage leaving behind a steady a paycheck until you start making income in your own business? On the other hand, how secure are you -- really -- in your current job?
  

• Explore your options

  Don't fixate on the first business idea you have; there's a world of entrepreneurial options out there. For instance, in my book What Business Should I Start?: Seven Steps to Discovering the Ideal Business for You, I list 463 different types of businesses. Take the time to examine different choices before you take the plunge.
  

• Choose a business with low start-up costs

  Let's say you want to own your own restaurant. That's an expensive type of business to launch. Instead, other food-related businesses require much less cash, such as catering, becoming a personal chef, or preparing pre-cooked meals for home delivery.
  

• Start in your spare time

  You can begin many businesses without having to quit your day job. Some types of work -- especially consulting, crafts, and many technology-related activities -- can be launched as a part-time business on weekends or evenings.

More tips in tomorrow's column on how to make 2007 the year you become your own boss.