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How do you start a business as a portrait artist?

I am an artist and architect. I architect right now to make a living, and paint on the side. I would like to move more into art as a profession, possibly focusing on portraiture. What are initial steps recommended?
I know the basics of developing a portfolio, getting a business card, creating a website, managing a contact list, looking for representation in a gallery possibly. I know about portrait brokers too, but am not sure I want to go that route yet. I am very good at portraits, good enough that I can do them from life in public, like at craft fairs and such. I work in pencil, charcoal, felt tip pens, and oils mostly.
Should I just advertise in local magazines or newspapers to find clientelle? Many ask if I work from photos, but I usually work from life. Maybe I can do some combination, as many will not want to sit for hours and pose.
Here is my website where you can see my work:
http://matthewleestudio.com/home.html

Thanks for your comments.

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Hope this helps.

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