Write down your likes and dislikes. There is no sense in starting a business that involves doing everything you dislike doing.
Write down your skills. What do you know how to do that other people will pay for?
Look at market trends. What is going on in the world? What kind of things are people buying? What types of services are hot?
Look at your lists for Steps 1-3 and begin generating business ideas.
Seek input from family, friends, and trusted associates. They may notice talents and skills that you never thought of.
Do some market research to see if any of your ideas are viable. Just because you think something is a good idea it doesn't mean that it will catch on.
Read- a lot. Spend time reading about business and entrepreneurship. Read both books and magazines. Read stories of successful business owners. Keep up on the latest business news and trends.
Come up with a plan. What kind of business will you start? When will you start your business? How will you make sure your legalities are in order? How will you finance this? How will you market your business?