My Own Shop?

I'm thinking of starting an Etsy shop for knit and crochet items and paper crafts. I have loved browsing and shopping on Etsy for a long time, and I have toyed with the idea of starting my own shop for a while but I could never figure out what I would make. I finally came up with some ideas for products, and I think I might just go for it. I have a few friends who have them, and I am planning on picking their brains for what works and what doesn't. I am mostly worried about failing big-time at it, but I think even if I sold a few things here and there that it would be worth it. Then I could have a bit of my own spending money, and actually start contributing to my own retirement fund again. It's kind of a big idea, but I've always wanted to be in business for myself, so why not, right?