Earn a substantial amount to get started. Find a job and put your income in a savings account. This will not only help you make money, but you will learn what it is to work under someone else. If you inherited money, let it go.
Select a service or product. Choose what interests you, from which you can be delighted. When you are interested in a product, your customers will also be interested in it. Try to find your niche in the market – an unexplored aspect in your chosen field of business. Try to somehow separate your product (s) from competitors by offering something that others do not have. A good example is the Dyson vacuum cleaner – a patented suction system for another 20 or 0 years will be the best way to vacuum your carpet, and people are willing to pay extra money to get maximum performance.
Define your target audience. Explore your competitors and study their target audience. Change their audience and make it yours. Do research and ask people what they think of your business concept. Do not be afraid to let your concept develop – there are some changes that will make your idea better and more profitable.
Write a business plan. Ask someone to help you with this: your mentor, teacher, and parents will be happy to help you. Also, for more inspiration, go to local service or product enterprises similar to your ideas and ask to speak with the owner. Ask them what inspired them to create this business, what they use, and what they do. This can be an inspiration for your mission.
Buy the tools and materials you need to start a business. With your money and possibly borrowed money (again, mentors and parents are the right people to ask for a loan. Make sure you put together a formal offer to show them what you mean business). With the money you have, you can buy the basic material that is needed to start a business.