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Many already established entrepreneurs have a flood of great ideas. These ideas come at any given time and can be found on notepads, scraps of paper, phone memos, or just kept in circulation in their minds. This is not the best place for your new moneymaking idea! The important thing is to have all your new venture ideas in one central location. So get organized!

Next it's time to understand in what order the project will be tackled. An idea means nothing if you never get to it. A note pad should not the place for your new profit-building idea to live and die. Once you have the thought, build on it!

So let's say you have these three great ideas. (Entrepreneurs usually don’t have just one idea - there are almost always multiple brilliant business ideas they are brainstorming about). Start by breaking each idea down:

• How is the idea profitable?
• What is the whole scope of what you are trying to do?
• What it is a possible cost?
• How long will it take to implement?
• Do you need investors?
  

These are important questions to ask because this will determine which idea should be tackled first. Once you've picked your first venture, research your business and put the information gathered into a business plan. Writing business plans can be a pain BUT, it will be important to have when investors start knocking! Remember to keep your business plan simple and factual.

Once the idea is established and the research is done, put the plan into action! There are many different ways to do this, but make sure your foundations (research, resources & business partners) are qualified and capable. It will save you time and money.

Good luck!