Entrepreneur Shares Tips for Generating Actionable Business Ideas - PowerPoint PPT Presentation

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Entrepreneur Shares Tips for Generating Actionable Business Ideas

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Coming with new ideas in market is not an easy task. But, it’s vital to create some actionable ideas to push your business success. – PowerPoint PPT presentation

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Title: Entrepreneur Shares Tips for Generating Actionable Business Ideas


1
Entrepreneur Shares Tips for Generating
Actionable Business Ideas
2
  • 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?

3
  • 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.

4
  • 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

5
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.

6
  • 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.

7
  • Likewise, newbie entrepreneurs should use
    their experiences to generate new ideas that can
    indeed make an impact in a crowded marketplace.

8
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.

9
  • 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.

10
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.

11
  • 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.

12
  • Its not impossible to bring your ideas to
    fruition with commitment. But before that, do
    generate practical ideas based on the advice
    given above.
  • https//www.ceoblognation.com
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