A look at tips from personal finance bloggers about starting and running your own business. By Cameron Huddleston, Former Online Editor May 28, 2014 Thinking about quitting your job so you can be your own boss? It might sound like a good idea, but you need to understand the trade-offs of being self-employed and have a solid plan in place before starting your own business. Take our Test Your Small Business Know-How to see how much you know about becoming an entrepreneur. Then read these tips from some of our favorite personal finance bloggers. SEE ALSO: Surprisingly Simple Ideas That Made Millions 5 Reasons Why Now Is the Best Time to Start a New Business [Money Crashers] "If you have an idea or a desire to be a business owner, today is the best day to begin the process." How Much Do I Have to Make as an Entrepreneur to Replace My Day Job Income? [Financial Samurai] "If you make $120,000 as an entrepreneur, it’s not bad, but it’s really only equivalent to about $75,000 a year as an employee. My recommendation is to moonlight for as long as possible until you know with great certainty that your entrepreneurial income can cover all your basic expenses for six months in a row." 4 Tips to Help Female Entrepreneurs Bring in More Business Revenue [Mint Life] "If you’re in business for yourself, here are four tips to help you increase your fees and charge what you’re worth for your services." Advertisement How to Start a Franchise Empire (Without Going Broke) [Good Financial Cents] "Jesse Keyser is a franchise owner based in Southern Illinois ... Listen to the podcast and learn how he built up his business and expanded his franchise empire in less than ten years." 4 Budgeting Tips for the Self-Employed [Christian Personal Finance] "Do not foolishly let your guard down when times are good. Decide now that you are going to be smart with surplus." Self-Employed? Don’t Neglect This [MoneyNing] "When you’re trying to get your business off the ground, you’re more interested in the day-to-day of survival. You do, however, still need to remember to prepare for the future with retirement planning."