--Lee Greenwood, God Bless the U.S.A.
I started a company manufacturing fiber optic test and measurement equipment. I learned the business side as well as the technical side by being an electrical engineer in a small company.
The whole secret to business success as stated by Walter Williams is to find a way to please your fellow man. Find something that you're good at and find a way to make the goods or service you provide valuable to a large number of people.
The mechanics of a small business involve endless quantities of small details. Everthing from bookeeping, acounting, payroll, purchasing, shipping, advertising, etc. must be juggled.
Eighty hours a week as mentioned in a previous post would not be uncommon.
The benefits for me are above average income, independence and never having to worry about being laid-off. I'm only sorry that I did not start sooner.