A good rule of thumb is to have a minimum of 6 months to 1 year of living expenses set aside for your household. You will have enough to worry http://money.cnn.com/2017/01/13/smallbusiness/trump-dossier-corporate-intelligence-business/index.html about starting a business without the added stress of worrying about how youre going to pay the mortgage or electric bill. How are you going to finance your business? If you want to apply for a business loan, you will need to show at least 3 years of financial projections. This is an estimate of how much money you feel you may be able to bring in when you are fully operational and includes salaries and basic costs of doing business such as rent, utilities, insurance, marketing and inventory if you are selling products. Setting up a marketing program is something else you will need to consider. Being open for business is not much good if people dont know about you. There are many options for your business marketing. A great website is a good place to start and is extremely important to your success. Now that your head is spinning and you are beginning to wonder if you should go through with this, dont despair.