Nuggets:

• The idea is a small part of a successful business; it’s about the execution
• Creating a business idea that forces you to network with local businesses has collateral benefits
• The pain is deep here: local business owners are eager for something that helps them compete with bigger names

Action Steps:

1. Create a list of all the businesses in your local area
2. Build a minimum viable product website that houses these businesses' information
3. Use targeted advertising to bring locals to your site
4. Test monetization strategies
   1. Approach business owners and sell them on advertising with you
   2. Include an app-based discount card that promotes local businesses
   3. Gather local citizen email addresses and send them discounts and offers
5. At a meta-level, you could create an app that allows local governments to implement this in their own towns and neighborhoods

Follow through on these action steps and email us your results at [email protected]. You'll get exclusive access to a private Facebook group of action takers and one listener will earn a free mentorship call with our guest, and potentially, a business partnership.

Links:

The How of Business

SCORE Find a Mentor Program
Extracting Pain from Dentists with David Cristello
Smart Home Installation and More with Mehdi Kajbaf

Henry Lopez is a serial entrepreneur, Small Business Coach, and Host of top-rated The How of Business podcast show. In addition to investing in and growing his businesses, he is dedicated to helping others start, run and grow their small businesses. He has over 34 years of diverse business experience, including successful careers in the information technology industry, sales, sales training and business ownership. He has been directly involved in over 10 different small businesses since purchasing his first business in 1991. He has developed and launched his own businesses, and has bought and sold businesses as well. Henry also serves as a volunteer SCORE Mentor.

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