Disclaimer: I doubt I'm a good role model to be answering this question. The majority of my experience has been spent working for someone. Granted most of the p

Disclaimer: I doubt I'm a good role model to be answering this question. The majority of my experience has been spent working for someone. Granted most of the projects I've been able to choose, I am not yet a self-made man. I work with many consultancies and can only relate what I've observed. The biggest problem is the overhead of managing your finances and business. It's a distraction that you'll have to learn to deal with one way or the other. In my opinion, find someone that will help you navigate these decisions early and often. (Look to your local Chamber of Commerce or entrepreneurial meetups for qualified mentors.) Do NOT underestimate how important it is to track your time and money. My approach was to take things in small bites. I setup a DBA and opened a business account and tried my best to keep my finances separate. When I paid for stuff out of my personal account, I made sure I put together an expense form to track reimbursements. Even though there aren't much tax benefits running as a sole proprietorship, the taxes are much easier and you do get to write off a few things. Once you start making 4 figures a month, seek out assistance again and see if it makes sense to formalize your business into a corporation. There are services which help manage your books (such as Florida startup, http://lessaccounting.com http://lessaccounting.com). If it makes sense, use them! They are awesome people and will be a net positive gain for your business. There are also lawyer services which will probably answer questions you have over the phone. One such law service I'm aware of (but haven't used myself) is http://walkercorporatelaw.com/ http://walkercorporatelaw.com/ and comes highly recommended by Andrew Warner on Mixergy. While this is basic advice, it's will set you with a strong foundation to start off. And having someone mentor you through the process will give you the best possible advice that will be tailored to your practice's needs.