Why Didn't I Learn This in School: Mind Your Business

Want to turn that bright idea into a business? It takes money and a plan to transform that jalapeño into a world famous hot sauce company.

Starting can actually be the hardest part because of those one time expenses to get you established. Make a list of your big startup costs and then slash away.

Do you really need that gold desk for your office? Do you even need an office? A co-working space is a great way to drastically cut costs but still have all the amenities. Every cent you save can be reinvested into your startup.

Budget time.

Add up those one-time expenses with startup assets and monthly ongoing costs and you get a forecast of your first year expenses. Creating a sales forecast is very important.

Don't struggle with numbers. A quick search will lead you to some helpful startup calculators. Check out your competition, talk to their sales staff and customers to get a sense of who will be clamoring for your sauce.

Get inspired by the books that business leaders recommend:

If the paperwork seems overwhelming, check out score.org. It's a volunteer organization that offers training and workshops in administration.

Once you've laid out your business plan it's time to rustle up some green. Careful asking friends or family to be investors -- It can put a strain on the relationship.

If you find a venture capitalist, they'll foot the bills -- but probably will want to own the lion's share of your company.

Instead, look to business loans and small business administration loans which can be great ways to get you off the ground. Business loans are often short-term and usually require some collateral. SBA loans are good for the match.

These are government guaranteed with lower interest and payments over longer periods of time. Financing with credit cards can be tricky with those high interest rates. Instead, take out a business line of credit.

So grab life by the peppers and turn your capital idea into a red hot empire.