Let your purpose of establishing a business be on solving a problem not just to make money. If your reason to creat a business is to make money, you may get discourage within months if good profit weren't made. Establishing a prosperous business isn't easy, there’s a lot that goes into it. As you begin your business journey, keep these tips in mind, focus on planning, and take the time to test as much as possible. The more you prepare upfront, the more likely that your business will succeed.
I do agree with most of your points and they are obviously important for someone thinking to start a business, but there are a couple of points that I don't really agree with. The first point that I don't agree with is one shouldn't quit their day job before starting their own business, it might be possible in some of the cases where the business is handled by someone else at the beginning until it starts working but it doesn't work all the time because most of the times, a person starts a business individually.
The second points that I don't think is important for a business is to have a business partner, and I say that because most of the times, a business where there are more than one partners will start having issues after the business starts getting successful because people start thinking of getting more profits shares than others and that is when it starts creating issues in the business.