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Tips for Brainstorming a Business Idea

written by: Mary Rajotte•edited by: Linda Richter•updated: 6/27/2011

Thinking about becoming an entrepreneur? Here are some tips for brainstorming a business idea that will be a success.

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    Becoming an entrepreneur is a bold step. Before someone can even think about how he will run the business of his choosing, he must devise the all-important concept. There is a lot involved in taking a business idea from plan to reality.

    Here are some tips for brainstorming a business idea that will remain a success for years to come.

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    The Concept

    businessidea When starting your own business, the idea is king. The importance of selecting an entrepreneurship that suits one’s strengths is an important strategy.


    Choosing what’s hot may make you rich quick, but will it keep you funded in the long haul?

    Establishing what is a trend and what is a fad is the key to making sure your business is around for years to come.

    It is impossible to guess exactly what will be a hit and what will fail in the marketplace. But by looking at the current market, and trying to fill a hole or improve upon a product or service that already exists, you can make a success of your business. Finding a niche business can also be your key to financial success.


    Loving what you do is a key point in remaining in business for the long haul. But you must also take into account who will also love what product or service you will provide, and seek to market yourself to this target audience.

    Finding your ideal customer is the key to the financial success of your company. By pinpointing what they want or need, and making your product or service visible to them, you create a win-win situation that will satisfy you both.

    Photo: Microsoft Office Online

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    Revisit & Revise

    As you grow, so will your business. Your vision for what you wish to achieve may also shift and change, depending on the success of your company and changes in the business climate.

    As your ideas shift and change, it is important to revisit your original business plan, even if that only means looking over your previous year's goals and how successful you were at achieving them.

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    Free Business Place Resources

    Creating a Business Plan 

    You may have passion for something but you need a solid plan to back it up. Business plans do not necessarily need to be complex. Even making a list of your goals, your areas of expertise, and how you plan to achieve your goals is a great place to start.

    There are a variety of online tools that can help you when you sit down to put your business plan onto paper. offers over 500 sample business plans that you can view online.

    My Own Business offers free samples that can be viewed online or downloaded into Microsoft WORD or PDF format and customized to suit your needs.

    Photo: Microsoft Office Online

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    Final Thoughts

    Starting a business is a huge step. With careful thought about the current marketplace and the needs of your customers and a solid business plan that lays out your goals and your strategy for achieving them, you will be well on your way to becoming a successful entrepreneur.

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