Step 1: Develop an idea that fills a market need and fits with your interests.
Step 1a: Start a parallel effort to start prototyping your idea.
Step 2: Estimate the size of that market need.
Step 3: Build a list of competitors and substitutes. Study those. Figure out how you are going to be different, better, faster, cheaper.
Step 4: Write down your business model. Keep it simple. Estimate costs. Develop an initial pricing strategy. Estimate revenues. Continuously update this as you learn more.
Step 5: Figure out how you are going to finance this adventure. Bootstrap? Angels? Crowdsource? VC?
Step 6: Identify charter customers. Start talking to them. Gain their support and interest.
Step 7: Complete development of an initial product/service and launch it.
Step 8: If you haven't already, start marketing and selling.
Step 9: Collect customer feedback. Maintain a list of new functions, features, enhancements. Prioritize changes carefully and be agile as you keep up with requests.
Step 10: Streamline your operations. Calculate and monitor key metrics. Get better at what you are doing.
Please edit this page and add your thoughts, comments. Add sub-steps, new steps, etc.