Farming is noble, honorable and very hard work but there's a lot to think about before you start digging in the soil or buying livestock. Let's look and see if this profession is for you.
1.) Find a mentor
Find a farmer you respect and one that farms the way you want to farm. Get a job with them. Learn all you can. Be reliable, show up and give all you can, be loyal to them for helping you and teaching you what they know. There are going to be jobs you don't want to do, but do them anyway. This is starting from the bottom and learning as you go. Learn from both his knowledge and his mistakes. If you start early you get about 30 or so seasons to succeed at farming. That seems like a lot but that is a whole year that I'm talking about. Learn early and maybe even find a better/smarter way.
2.) Have a plan
First of all you need to have a map on a high level to understand what you want to do and what you want to sell. Then you can go in and reverse engineer who you need to talk to, what you need to acquire, what steps you need to take to get there and what you need to achieve you goals.
Spend your money wisely. Try to find deals on the things you need. Maybe use Craigslist, maybe your mentor has a friend selling something you need. Try to buy things that are of the highest quality but are on sale.
A word of advice: If you can at all swing it, don't start out owing money. This puts you at an extreme disadvantage and you will start out coming from a place of want instead of being smart and steady. Make good business choices from the start and run this as a business.
3.) Know the economics of Farming - Turning a new page
In the past farmers have used a very capitalistic view of resources. Air, water, and soil have been plentiful and so used to a capitalistic benefit of the farmer. As those resources are becoming more scarce farming will become harder. As new farmers you need to be aware of what has been done in the past and what is no longer working. Maximizing profits and industrializing farming has been detrimental to the farmers way of life. They may have maximized profit but there was a cost to the land. You can learn and change and be a better farmer and steward of the land. Do this by diversifying your farm. The industrialized farmer has one crop that they sell. This seems like a good idea to specialize but to use a farming expression, you're putting all your eggs in one basket. It can be detrimental if there is a dip in sale prices, in foreign trade talks or politics and the like. Smart business people diversify and scale. Find what works, do it as quickly as you can and do keep doing more of that same thing.
3.) Farmers wanted
As a farmer you need to be quick to learn new things, be right on top of what is working in your business and what is not. It can't be said enough, this is a small business and you need to treat is as such. Don't fall into the traps that others have fallen into. As a farmer you are an artist, plumber, electrician, landscaper, entrepreneur, grower, inventor, salesperson and whatever else needs to be done. Get your hands dirty, don't throw away anything (as soon as you do you'll need it again), repair things that are old instead of getting a new one.
What are you going to sell? This is where you get to be creative and put the "you" into your farm. It's important that you know the why behind your product so that you can tell that story to your customers. This is what will keep them loyal, that and customer service. Get the word out about your farm and products through all the social sites and web commerce that is available to you. Just because you're a farmer doesn't mean you need to do away with technology. Let technology work for you. Tell your story, get your story out the the world through all the social channels and then you can go on being a farmer.
Be the expert on this product. You need to know everything there is about this market. Knowing what you're up against will help you before you have a problem.
Where are you going to raise your product?
This can be unconventional. You can rent land, or find a warehouse, it could be on top of a building in the city, it can be aquaponics, livestock, row crops, bees and so many other things. This goes back to # 3 on this list. Think outside of the box. This is what is going to make you stand out and it will end up being your brand.
Finding your niche. Who are you going to sell to? CSA, local community, other things to sell, staying on top of the market. You are going to need to really know your market and what they want to buy so you can succeed.
7.) Getting help
You need some know-how before you jump into this. The USDA is going to be a great resource for new farmers. As I said before having the mentor will help you so much. There are places out there that can help. Seek them out and find what you need to succeed.
Keep costs in line with your revenue. This can't be stressed enough.
I'm not going to sugar coat this. Most new businesses fail in the first 2 years. Be smart about this process. Do everything as a business and take the emotion out of it. If you want to drive a tractor around a field but can't afford it, buying that tractor might be the end of your dream as a farmer. Don't let pride get the best of you.
Here are some other resources to help you get your start. Best of luck!
Keys to succeeding on the farm
Top 10 reasons new business fail