Hooray! You have a Business Idea…..Now what?

So, you have an idea! Double high fives!

Now What?

Ideas can be like fireflies in the night. They appear suddenly, shine brightly, and vanish.

Honestly, there was a period in my life when I was juggling three ideas at once. Like the fireflies, they burned out just as quick as they appeared. Sure, some ideas lingered a little longer, burned a little brighter, but they eventually faded.  Just like the others.

Where do ideas come from? 

An idea can emerge from anywhere at any time.  

Some ideas are born out of necessity. Some ideas are born out of compassion. Some are born from a desire to find a solution to a problem. Some out of greed. Some ideas are even born from a mistake.  If you are not familiar with the Slinky story, it’s worth taking a 3-minute detour here to check it out.  But come right back.

Welcome back!   

So, you have an idea. How do you know it’s a good one?

Evaluating the feasibility of an idea is hard. Sometimes, really really hard. There are so many variables, uncertainties, guesstimates, etc. to consider. You can work the numbers, do the research, and still be uncertain.

With 20 years of being in the ‘Entrepreneurial trenches’.’ it’s safe to say I’ve gained some insight into an entrepreneur’s ideation journey.  I’ve witnessed a lot of ideas – triumphs, failures, winners, and tons of could-have, would-have, and should-have. 

You get the picture. 

But sometimes, an AH-HA moment happens, and it all becomes clear.

My IDEA AH-Ha Moment!!

My first idea AH-HA moment happened 5 years ago, with my mobility scooter rental business.

What was the defining difference between this idea and all the others?

Three ingredients – 1) Passion, 2) Skills, and 3) Market.

When these three ingredients collided, my idea came to life.  

Passion

My twin sister was injured in a car accident in 1992. She fractured her spine and sustained a spinal cord injury. Since then, I have been acutely aware of mobility barriers. For the past 25+ years, I see every barrier and every obstacle that affects a person’s mobility freedom. I had a reason to – my sister. Through her, I understood the benefits of a mobility scooter. The freedom and added independence it provides is invaluable. It made an excursion at the waterfront or public park possible. We did it together. When she came to visit me in Halifax, we would rent a scooter. Or at least try to. The lack of options for mobility equipment rentals quickly became apparent. I distinctly remember thinking, “Somebody needs to do something, this is ridiculous.”

Well….I’m a ‘Somebody’. I had to do something. Doing nothing, was not an option. Mobility freedom mattered to me. My heart was invested. I cared, deeply.

I had passion. I had a purpose.

Skills

I also had the necessary skills and know-how to pursue this business idea. Together with my husband, we had the perfect combination of skills to move the mobility freedom needle in the right direction. My Business and Entrepreneurial background combined with his Technician background formed an optimal skills collision just ripe for this type of business.

Together, we are the duo behind CanEast Mobility Scooter Rentals Inc.   

Market

Through my sister’s personal experience, I knew there was a need. The gaps were apparent – product availability, customer service, pricing, rental options, etc.  We had personally experienced the ‘problem’, and more than once.

These gaps revealed Market opportunities.

I did the research. I talked to a lot of people. I asked smart questions. I gathered feedback from a variety of sources. I took the investigative position and pretended to be a customer with a ‘rental inquiry’. I learned a ton.

Armed with passion, skills, and market demand, I was compelled to do something. I was convinced our city could do better, be better.

5 Years Later……

My business is a simple one. It doesn’t have a sexy name. But guess what? My customers can easily find me, and people know what my business is all about. I never have to explain it. It’s all right there.

5 years later, my business continues to grow – year over year. I am immensely grateful for many repeat customers and referrals. I have met customers from every province in Canada, all over the USA, England, France, Italy, and Australia. 

The intrinsic rewards are many. A customer asking if they can give me a hug is still my favourite.

Your idea…..your ah-ha!

Ideas are everywhere. Whether yours is a good one or not, is not for me to say.

What I do know, however, is if you shift your focus and evaluate your idea with the question, “Is this the right idea for me?” it changes everything. Your idea will shine a little brighter, a little longer.

Of course, there’s no guarantee with anything you do, and there’s no magic wand to predict a lifetime of business success. Not yet, anyway.

But if you can find that Idea AH-HA moment at the intersection of your passion, skills, and market demand..….you just might be on the right track.

With gratitude,