Being your own boss can be extremely rewarding, it allows you to reap the rewards of your own hard work as well as giving you the opportunity to improve your work life balance. It is not a decision to be taken lightly, however, particularly if you are giving up the security of a regular salary. You need to plan carefully to avoid the pitfalls.
First, what product or service are you going to offer? You probably already have an idea as to what you want to do. Consideration will need to be given as to the likely demand for the product or service you intend to offer and the price you intend to charge. You will need to be comfortable that you will be able to sell sufficient units to make your proposed venture a viable prospect.