Want to start your own business...but don't know where to start?

As a newbie entrepreneur, starting a business has hundreds of hidden pitfalls and hurdles that can trip you up at any moment. Maybe it's the idea that sucks, the business model, or the market that is not ready. Perhaps it is founder disagreements, or you run out of money too early and fail to raise the necessary capital...the list goes on.

While you can't guarantee success, you can certainly put yourself in the best position for success. The main reason newbies fail is poor preparation. They didn't have a plan. They weren't ready for the challenges. And these days, there's no reason not to be.

Instead of slogging through 10-15 books to piece together all the relevant bits of information you need, Peter Rasmussen has distilled his experience from helping more than 300 companies getting started in China - including six of his own startups - into manageable, "must-know" steps that are critical to successful entry into the startup world.

Take the self-tests: Are you prepared for life as an entrepreneur? Is your business idea going to work? These are the signs you need to look for.

Discover your "unfair" advantage: There's a balance between standing out and being too unique. Find your strengths so your business can have the right focus.

Develop your startup business model: What value are you proposing to your customers, and how will you deliver? Turn your ideas and strategy into revenue streams and profits with a solid system.

Research, test, and brand: Understanding your target market and developing your product involving the customer is one of the most important things in business to get right.

Navigate the legal jungle: It's important to understand the structure of your company and how to protect you and your business' rights - just in case the worst happens.

Bring together your A-team: A great idea in the hands of a mediocre team has little chance of success; your team will make or break your startup.