NEW YORK (TheStreet) -- Looking to start your own business?
Hey, you're not alone.
According to the most recent Global Entrepreneurship Monitor from Babson University, new business activity rose 13% in 2012, the highest level recorded by Babson since undertaking the study of U.S. and global entrepreneurs in 1999 and the highest rate of growth among the top 24 "innovation-driven economies."
More than 43% of Americans say the time is ripe for starting a business, a leap of 20% from 2011, the study reports.
If could be that Americans are souring on corporate life, not sure from one year to the next their jobs are safe. It could also mean that more of our 77 million baby boomers are putting off retirement by leaving the corporate world and launching entrepreneurial ventures.
Whatever the reason, don't go into any a business launch with your guard down and no knowledge of what really makes a business work.
Lomesh Shah, the founder of NonProfitEasy, a software services provider for global nonprofit groups, has some advice for entrepreneurs before starting out:
Blend passion with vision and opportunity. Shah says entrepreneurism isn't about "looking for the next big thing." Instead, it's about seeing problems and solving them, grasping opportunity in business areas you really care about. "Look for those holes in the fences, the systemwide time wasters, the places where things don't scale -- then gravitate to those points about which you have the most passion," he says. "Your inspiration will come from passion about the change you want to create."