I started this way as well, here is an advice: have strict standards and do not let anybody violate them. You will have plenty of work to do, do not make mistakes of allowing standards to slip from the start.
Get fresh out of school people, maybe even people without full degree, pay as little as possible, you have no money to throw around, but make sure there is always coffee and food in the house, besg way to keep morale up is to have people who are not feeling hungry.
Get cheap or free stuff from craigs list, you will need computers, monitors, switches, cables, test servers, desks, chairs, some plates, forks, spoons, cups, a microwave, a kettle, a coffee maker, fridge, paper towels, bathroom tissue, buy in bulk from costco.
You need to be proficient enough to write/read code, who else is going to do it at first if not you? You do need standards, would be nice to pick a technology and stick to it, so make your picks. Some code generators would be nice too.
Prepare some document templates for proposals, design docs, business docs, release docs. It is very useful to have an accountant that knows you and can deal with the payroll,source deductions, etc.
Find clients outside of your country, but if you are an American you will have tough time opening an offshore bank account, which you need...
Good luck, you will need plenty.
PS. May want to consider a couch in the office.
PPS. May want to consider renting a house instead of an office, you can live there and have enough space for work.