How prepared am I to start cattle farming? Anything I should know?

I have an 8 acre plot of lannd by a lake (enough?) I am trying to start in the cattle business in the near future. I'm in the process of designing and building the farm, barn, and fields for grazing. I am planning to be in both the Dairy and Meat industry, is that unusual. I know i'm not close to done, and I'm not used to this, and farming is a tough business. Any advice or concerns before I get going?