Having owned a couple of successful businesses, I always give advice to my colleagues who are just getting started in their own ventures. Here are a few of my top tips for new entrepreneurs:
1. Seek Help / Coaching - This is my best advice for a new business owner. We use a statewide program through our University system called the Small Business Development Center, but there are tons of (free) options available! Get an outsider's view.
2. Focus on doing 1 thing really well. When we start, it seems that we want to take over the world and do all things! Find the 1 thing and do it really great!
3. Focus on a niche. If you can focus on finding a niche that you are interested in and have a connection to that industry, it will be easier for you to become successful.