Get a great accountant or [take a] community college course and learn software programs like Quicken to keep your books, ... You skip this aspect of the business, and you'll be very sorry.

Know thyself. Really think this through before you make a commitment to a lifestyle and work style you just may not be suited for.

A lot of people go into freelancing thinking, 'I've got the talent.' What they need to realize is a lot of people have talent. What makes a successful freelance business is how strong your client list is.

[Once you've decided what aspect of your field to freelance, take the time to establish yourself.] The biggest misconception people have is that they're going to jump right into it and start making money, ... Not true. Just because you build it doesn't mean they'll come.

Accounting software is the first strategic business application that many small firms purchase, making it an important on-ramp for other business applications, which need to integrate with the accounting solution, and a first step towards higher end financial solutions. Intuit has long been the undisputed leader in the small business accounting space with its QuickBooks product line. But Microsoft, which has a solid base in the mid-market financials arena, wants to build volume in the small business accounting market.

Accounting software is the first strategic business application that many small firms purchase, making it an important on-ramp for other business applications, which need to integrate with the accounting solution, and a first step towards higher end financial solutions.