I am 33 now and my dream is to start my own business. As I am a sole bread-winner of the family, is it worth taking the risk to start my business?

If you wish to become an entrepreneur and has financial support from your own savings or otherwise, this might be a good time try different things out. You might be thinking, “Are you crazy? How do I start a business when the economy is so bad?” Remember, your greatest asset is your youth, stamina and capacity to fail, learn and grow.
The Chinese term of crisis is “危机”, which would mean danger and opportunity if you break up the characters. When a challenge presents itself (like now), it is up to the individual to be creative and grab the opportunity to present solutions.

Huh?

To put it across simply, identify what problems and needs people around you are struggling with right now and need help with. Ask around. You never know what you may come across that could inspire your next venture.​​​

I was faced with that decision at around that age and I calculated my risk and eventually set aside a fix time-period to try my own ventures out.

Do think about these (before you start):

1) Know your Edge

A business can grow and thrive better when you are clear on your advantage over the current players. This also allows you to position your USP in the market.

2) Have some form of recurring income from a Active/Passive income stream

All business has a cost involved. Know the exact cost involved. A business is usually only sustainable as a full-time if you can run it for a period of time. Be able to sustain that cost and ensure you are well-funded to survive 2-3 years of that running costs.

You may not have sufficient funds on the onset, but you have to know where to get the funding when the time comes.

Depending on how much experience you have in the business you are starting, I think it is crucial not to expect a hole-in-one. Most entreprenuers get successful after a few tries, and that usually happens after learning loads from the first few mistakes made.

Assess the upside and downside risks involved and have fun!