WHAT ARE YOU GETTING INTO?
The key to launching a new business is to thoroughly understand the industry sector you are planning to enter. Stepping into something you know nothing about is risky. You need a passion for the industry and it's important to understand the specific nuances of that sector.
Sooner, rather than later, make sure you capture accurate figures on how your business is performing. Your financial reporting needs to be solid as the figures really tell the story of your business. Nothing beats having accurate figures at the start of the month and understanding what those are saying. Why has a change happened? What does this dip in sales mean? A mentor can help you answer these questions and understand which buttons you should be pushing.
Take advice from a mentor early on, or any problems could become significant and beyond the point where someone can help you.