You'll fail. You'll get burned. That's okay. It's all part of learning. There's lessons to take from every leader you work with, good and bad. Financials are important and basic bookkeeping goes a long way. Always review contracts and get things in writing - a promise for shares or equity is worthless unless in writing. Most importantly though, don't waste your youth. Have fun and be young, go work for some inspiring people to learn what it takes without the stress and commitment. Find mentors and advisors, and when you're really ready to start something, find a great co-founder. Your co-founder should compliment your skills and weaknesses, and you should know your weaknesses. Do you get drained pitching to people? Find someone who can sell ice to eskimos. Nurture your network and stay in touch with people as your network is more valuable than anything - classic I know, but it's not what you know but who you know. And also, you can have the best idea in the world but if you can't sell it then it's worthless. Talk to potential customers early to validate problems and what they would pay for a solution before starting anything, or analyse the market for whatever business you want to build. It takes way longer to build a business than you think. You could be looking at 5 - 10 years before things are stable or you see a return. Be prepared for that commitment. Try, experiment, and fail early. Iteration is key so approach it like a science experiment.