Before you can start educating your child, you need to educate yourself. Research home schooling in any way you can. While the Internet has lots of great information, you should talk to veteran home schooling parents. They can offer real-world advice and share the challenges they faced when they first started. If possible, find a local home schooling group and ask to sit in on a meeting. Know the group before you begin home schooling to make the transition smoother.
Check your local library for books on home schooling, especially ones with information on your state. You need to know the local laws---they vary from state to state---and what "style" of home schooling is right for you and your child.
While a pre-made curriculum is not strictly necessary, many home schooling parents find the structure beneficial. If you plan on following a strict schedule each day, you may prefer to use one.
For more free-form homeschooling, you don't need a defined curriculum, but you definitely do need a plan. Before you make the switch from traditional school to home school, decide what information you want to cover this year (biology or chemistry? American history or world history?) and gather resources for it ahead of time.
Extra time is a great benefit of home schooling, but it can be a severe drawback, as well. If your child is used to a traditional school environment, she may find it difficult to adjust to several extra hours of free time each day. Be prepared to enroll your child in several extracurricular activities, such as martial arts or music lessons, to fill in the gaps during the day.
Planning is even more important if you have to work. Since you'll need to juggle schooling and work, you should create a definitive schedule for each day. If you work an alternating schedule, consider planning out the school hours so they can be fit in when you are home instead of requiring certain portions of the day.