It is important for a new business owner to think through and, at least high-level, plan before they start a small business. A business owner is taking a lot of risk, which can be rewarded, but they need to do everything they can to hedge that risk and to optimize the benefits for the risk they are taking.
One of the first steps is that you need to really look deep down and decide why you want to start your business. If you haven't already done so, I highly recommend watching the Tedx talk by Simon Sinek on "What is your Why" (he has a book by the same name- the video will give you a high-level of impact in under 18 minutes). Figure that out first.
Take the time to work out a business plan- it does not have to be something pretty to present to a bank- they probably won't lend to you initially anyways. In my mind, it is more something to help you think through your plan in detail. I look forward to going in to more details on this topic is the next video to be released next week.