Entrepreneur Shares Tips for Generating Actionable Business Ideas

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Entrepreneur Shares Tips for Generating
Actionable Business Ideas
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• For some entrepreneurs, new business ideas
  come along like rain to a flood. For others,
  generating new ideas is more elusive. All
  businesses are built on ideas. Even established
  companies need new ideas to move forward and
  sustain existing lucrative ventures. So is there
  a best way to generate new business ideas with
  high levels of potential for success?

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• While coming up with new ideas for a company
  can be fun, its more important to come up with
  actionable ideas. While its fun to think about
  building a flying car, its not a very practical
  one that would likely develop into a successful
  business.

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• Dont waste your energy coming up with ideas
  that eventually flounder, says Bill Busbice, a
  veteran entrepreneur with multiple successful
  ventures. Here is a list of his ideas for
  conjuring actionable business ideas that will
  push you toward success

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Use Your Existing Experience

• Its next to impossible to make a splash if
  you dont know your sector very well. Thats why
  experienced entrepreneurs like Richard Branson
  and Bill Busbice advise businesspeople to use
  their experience to come up with new ideas. Mr.
  Busbice recently developed an innovative app
  called HWY Pro that aims specifically at truck
  drivers.

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• HWY Pro is already getting buzz for being a
  potentially disruptive app in the trucking
  industry. Mr. Busbice didnt come up with the
  idea for the app randomly. It is based on years
  of observation and knowledge acquired during his
  tenure as a co-owner of an acclaimed trucking
  company.

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• Likewise, newbie entrepreneurs should use
  their experiences to generate new ideas that can
  indeed make an impact in a crowded marketplace.

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Think from the POV of the Target Audience

• Ideas are only practical if they have a
  particular target audience. If you want your
  concept actually to work, think about it from the
  perspective of the customer. HWY Pro aims at
  truck drivers and owner-operators, not trucking
  companies or dispatchers. Mr. Busbice knew the
  target audience of drivers would be attracted to
  the app.

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• He was able to think from the perspective of
  the customer to develop the app to target flaws
  in the existing industry keenly. Now the app is
  ready to address a massive demand. If you can
  visualize your idea from the perspective of the
  customer, then you know your idea is viable.

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Be Passionate about Your Ideas

• Its not enough to merely have ideas, then
  expect them to nurture into fruition. Building
  something out of an idea takes remarkable grit,
  drive, and above all, passion. Mr. Busbices
  foray into trucking wasnt by coincidence. He has
  always had a love and respect for the trucking
  industry.

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• His enthusiasm led to not just HWY Pro, but
  other business successes as well. Therefore, Mr.
  Busbice advises aspiring entrepreneurs to follow
  their dreams based on things they enjoy doing.
  When passion is an ingredient, the drive and
  motivation naturally follow. All three are
  necessary for building a successful business from
  scratch.

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• Its not impossible to bring your ideas to
  fruition with commitment. But before that, do
  generate practical ideas based on the advice
  given above.
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