Things You'll Need
Instructions
Put together a group of players. Things to consider are how serious the players are about showing up, their schedules and what type of game they want to play. If you have a group of friends who really want to play a cloak-and-dagger spy kind of game, and you try to interest them in space opera, chances are they won't be willing to work with you. Once the players and game type have been decided, it's time to start putting together the specifics.
Create the world the game will take place in. While many storytellers use premade worlds, that doesn't excuse this option. If your players are going to be in a city, you, as the storyteller, should know everything about that city, from where the red-light district is, to the name of the bum on the corner. The more involved and detailed your knowledge of the world, the more immersed your players will feel as a part of it.
Come up with a plot line. Something has to happen in order for an adventure to take place. Perhaps the characters find themselves dropped from a modern-day elementary school into a bizarre world of deadly fairytales, or maybe there's a political coup among the vampires of Chicago to elect a puppet Prince---whatever the plot is, you should know it as well as you do the world it takes place in. However, the plot shouldn't be set in stone---players might do something unexpected, and the plot will deviate. Be prepared to change.
Sit down with each individual player and help them craft their character. This will give you a better sense of who the characters are, and how they fit into the world that you've made. Sometimes, concepts will need to be adjusted, or thrown out altogether. This will discourage players from purposefully doing things that wouldn't work in the world they will be in, and it will give you, as the storyteller, enough knowledge to give each character and individualized plot hook.
Review your world and plot line once the players have made their characters. You should know at this point how the characters fit into the world, who they are, and why they would become involved with the plot line that you've created. It's at this point you should also make sure that your villains are not too powerful, and that while the game should be challenging, it won't be overwhelming. Once all the details are in place, it's time to roll the dice.