If I were in your shoes, I would grab my iPhone, a product, find a corner with good lighting, and do a private test livestream this afternoon. The entire goal is to demystify the process and prove to yourself that you already have everything you need to start.
The biggest mistake is getting caught up in production value. As Claudiu Thioba explained on Shopify1Percent, the most successful brands doing Live Shopping are literally just using an iPhone on a stand. They find a corner in their store or warehouse, set up a simple background, and go live. You don't need a studio, you don't need professional cameras, and you don't need a big budget. What you do need, as he points out, are the only two things that actually matter: a device with a camera and a stable internet connection.
In week one, your only goals are to get the tech working and get comfortable talking to the camera. Don't even worry about an audience. Just run a few tests. See how the platform you're using works. Get a feel for showing off a product and answering a question you plant yourself. The point is to make it feel less like a "production" and more like a conversation.
In month one, I'd start building a routine. Can you commit to a 15-minute live session every Tuesday? It could be an "ask me anything," a new product unboxing, or a tutorial. This consistency builds a small, engaged audience and turns live selling into a real channel. This is the heart of social commerce, which Steve Chou of The My Wife Quit Her Job Podcast keeps coming back to as a massive opportunity. It meets customers where they already are: on their phones.
I would completely ignore the urge to buy new equipment. For now, "good enough" is perfect. The raw feel can be a strength. The trap I'd specifically avoid is thinking the livestream is the whole experience. The stream is just the start. Your customer is watching on their phone, and they need to be able to buy on their phone with incredible ease, often with a single click. The entire mobile commerce experience, from the video to the checkout, has to be seamless. Liyia Wu, the founder of ShopShops, built a whole company on this principle, creating a QVC-like experience for the smartphone generation, which she detailed on the Modern Retail Podcast. A great livestream that dumps a user into a clunky, hard-to-navigate checkout is a complete waste of effort.