Deciding on the category of events that you would like to delve into, you would need to know your experience level. You would have to distinguish your area of specialty. You would also have to consider the business prospect of the event type you are considering and is it in demand. Once you have that worked out, focus on a particular core competency. Decide on what you can or cannot do and will you have the supporting team to manage what you are not able to do.
Event planning is basically using your creativity and interpersonal skills to organize occasions for a specific purpose or celebration and at the same time provide a service for a fee. It is both exciting and yet can be a hectic business as everything will be based on a dateline.