Promoted from what to what? I'm assuming that this is a REAL promotion, not moving from fries to the grill.
I love these guys who want to run out and start a random business after hearing some rah-rah speech from one of these Brian Tracy/Tony Robbins types, without any business idea, business plan, or business-savvy whatsoever. They are the reason that you hear statistics like, "90% of start-up businesses fail within the first xx years".
I've seen guys try business after business, incorporating, financing, flopping, ruining their credit through repeated trial-and-error, going from one ill-thought-out operation to the next, hoping that the next one they try will give them their "big break" and that their day-job will sustain them until they get lucky. Trial-and-error is one way to learn these lessons...but if you're in a good position, why not learn from the lessons of others?
If it's any kind of "decent" position you've been promoted to, i.e. something where you can truly set policy/direction or learn from those that do, take this time to LEARN something. Watch how these people operate...learn how they use people and learn to use THEM. Learn how to plan (and how not to plan). Learn when to take risks (and when NOT to take them). Learn what kind of marketing works and what kind people just laugh off.
Consider it real-world education. Learn what to do and what NOT to do.

Then you'll be better equipped when you set out on your own.
Just my opinion...which is worth what you paid for it.