I'll give you the canned response that everyone gives: start with ammo. The BPO's are cheap, it's a fast seller, and it doesn't take a lot of money to get started.

I'd advise against ships. Last time I looked into them, they were not a big money maker. Even wioth max skills, the margins were thin, required a ton of minerals (esp at the BS level) and where a royal pain to get to market. You really need to high volumes to make any cash, and that means billions of m3 and isk of minerals and many many freighter runs of packaged ships just for a 5% return on your capital. I'd rather sell 1m unit of ammo at 5isk profit each than 1 battleship for 5mil isk profit.

I wouldn't even start without Production Efficiency 4, and work towards PE 5 asap if you are serious. These can make or break your profit margin, where as Industry and Mass Production will just increase profits.