WHAT YOU NEED TO KNOW ABOUT WORKING FOR YOURSELF

Whether you're looking for a side gig or planning to start your own business, it has never been easier to strike out on your own.

- LAURA PETRECCA

LONG dreamed of becoming your own boss? Now may be a good time to take the plunge.

Today's tech advances make everything from marketing to invoicing more manageable than ever.

The Small Business Administration and other entrepreneur-focused groups provide a plethora of free resources to support your growth.

And with interest rates on loans ticking down, borrowing cash to fund your vision is getting cheaper.

Whether you're thinking about freelancing, consulting or opening your own restaurant, many of the initial moves you should make as you start a business are similar. By getting an understanding of what's needed, you can preserve your financial security, avoid unnecessary headaches and set yourself up for success.

Here are the key steps to go from idea to execution.

VALIDATE YOUR CONCEPT

Make sure there's a demand for your product or service. "Know the difference between an idea the market wants or needs and an idea that is a personal passion or a hobby," says Kira Chereé Cobb, founder of Entrepreneur Business Basics, an organization that helps entrepreneurs launch and grow their businesses.

Carolyn Katz, a mentor at SCORE, a nonprofit organization that provides free advice and resources for entrepreneurs, is a proponent of "customer discovery," which means having open-ended conversations with potential customers. "Instead of asking, 'Would you like red socks or blue socks?' or 'Would you pay $10 or $12?,' you ask, 'How do you feel about your socks?"" she says.

Online tools such as Google Forms and SurveyMonkey are helpful for getting feedback. However, Katz recommends in-person discussions when possible. If you're thinking about opening a food truck, for instance, hang around existing food trucks and chat with customers there.

During your research, don't rely on friends and family for validation.