Apu, there is so much good advice here, I'm almost hesitant to add.
But I will
I've had many businesses (8, or 11 if you include childhood businesses), and most of them failed. I learned a lot on the way, and the main thing I learned is:
1) No one is a beginner, we're all people experimenting. It makes a huge difference. Believe me or don't, try it or don't, but if you admit "Yes, I'm Apu, but a business is not anything special. It is something I'm experimenting with, and I'm excited for it." you may have different results.
2) If you really, truly, want success right out of the gate, without much failure -- it's doable, but it takes some very intense setup and preparation -- you need to discover Who You Are, and What You Stand For and What You Really Want.
This is waaaaay easier said than done.
Most people just skip it.
They really do.
But if you're interested in a free, and very helpful start on getting clear on who you are and what you're passionate about, you can go here: http://ryzeonline.com/how-to-have-fun-f ... y-pictures
Anyway, my advice is 'unconventional', and it works best when used with all the other advice in this thread about minimizing expenses and so on.
Hope it helps!