38 39cmfmag.ca cmfmag.caMARCH MADNESS 2016 MARCH MADNESS 201638 cmfmag.ca MARCH MADNESS 2016

WAYPOINTS

ENTREPRENEURS

When you were 12 years old, what was

your ‘moon shot’ dream? I remember

wanting to be a professional hockey player

(ok, I started with a Canadian cliché). I also

wanted to be a veterinarian, an adventure

guide in Africa and a soldier. Ideas for

careers were pretty easy to come by then.

As kids, we were really in touch with what

we wanted and were passionate about.

Now fast-forward 20, 30 years or more

and you are thinking about starting your own

business, your own legacy. Congratulations! It

is an incredibly fulfi lling way of life. So what is

your idea, your concept?

After spending 15 years helping entrepreneurs

across Canada start and grow their

answer this question as honestly as you can. Why do you want

to be an entrepreneur? Think about this for a moment before

you read on...

The reasons confessed by successful entrepreneurs are

many. Freedom and control are almost always at the top of this

list. Creativity is usually in there as well. Perhaps it is the chance

to build something, or pursue a passion – all are valid, and there

are several more. So which one speaks to you the most? If you

know which one does write it down now. If you don’t yet know,

then you will need to fi nd the answer at some point.

Of course, fi nancial rewards fi nd their way in the mix as well.

But the desire for money has to be supported by some other

compelling reason. That is what will keep you focused on your

business when you hit obstacles along the way.

In my coast-to-coast tour with POE, I have seen many

serving personnel locked into their ‘must do’ ideas. Individuals

passionate about marksmanship setting up shooting schools;

training personnel setting up programs for positive psychology

or fi tness; technical personnel bringing their skills to the civilian

sector as consultants. Other members have pivoted o� of their

military skills and started businesses with entirely new ideas

such as fi nancial advisors, home based craftsman or artisans,

and ‘gig’ contractors.

But what if you or your spouse is still serving and locational

stability is not in the future? You don’t want to have to invest and

keep restarting your business every time you are transferred. So

let’s look at the ‘gig’ contractor? What is it?

Two of the most common examples you see are Airbnb (now

the largest hotelier in the world) and Uber (the alternative taxi).

Now I am not recommending these specifi c businesses but

rather a way to create your business. The ‘gig’ model is well

suited for serving personnel and their families because the

business model has mobility and scalability built into it. Services

provided in the ‘gig’ format are many and include writing,

bookkeeping, designing, and coaching, etc. Why does this work

for active personnel? Well if you choose to become a career

coach, for example, and you get transferred from Gagetown to

Shilo you can keep your business going as your main contact

method with your clients is digital. The same would apply to

becoming a writer (on freelancer.com for example).

You may ask, ‘what if I don’t have skills in these areas?’ Well if

you like the gig concept, two things can happen. You could train

yourself to acquire the skills if you have a passion in any of these

areas (quality online courses are available for most skills), or you

can create an online store that sells products/services for skills

that you already can create/provide.

Lots to think about here isn't there? Well let me add one more

important point, a mission critical one that when worked properly

increases your chance of success by a signifi cant amount.

Here is it. You are not creating a business for today’s

marketplace. What in fact you are doing is creating a business

for the marketplace of the future. Your job is to research the

idea(s) you are most passionate about and try to fi nd evidence

that the market will still want (and pay for) what you o� er a year

or more into the future. How do you do this? Talk to people

about your idea, research competitive websites, read whatever

you can to learn about the forces at play. Why? Just imagine all

the opportunities that closed and opened as the Canadian dollar

went below 70 cents and oil below $30/barrel.

Remember good business ideas take into account:

• Your passion and goals

• Your current life situation and

• How much the market wants what you are o� ering

When you have a good focus on these three things, you have

put yourself on a solid path to creating a successful and fulfi lling

business.

Look for “10 Things You Must Do For Entrepreneurial Success”

in the Spring issue.

About POE

Prince’s Operation Entrepreneur is a unique national,

bilingual program that provides those leaving the CAF with the

education, mentoring, financing and tools they need to start up

and run a successful business.

Go to www.princesoperationentrepreneur.ca for information

on free one-day workshops open to all members of the military

community and seven-day boot camps.

Entrepreneurship: Where to look for your great ideaBy Scott ArmstrongPrince’s Operation Entrepreneur’s Entrepreneur-in-Residence

39cmfmag.caMARCH MADNESS 2016

businesses (the last two years giving entrepreneurial

workshops to the military community at Canadian

Forces Bases across Canada) two main idea generators

constantly come to the front of the line.

The fi rst generator works something like this. You take

what you are currently doing in the military and apply it

to civilian life. Whether you are a mechanic, IT technician,

logistics o� cer, etc., the skills you have acquired in the CAF

do transfer very well into the civilian entrepreneurial realm.

A small engine repair shop, an IT consulting fi rm, a security

personnel business or your strong logistics training applied to

project management create strong ideas for starting your own

enterprise. And this may be exactly what you want to do because

you love the work – you are drawn to it.

But is there something else you have always wanted to try? Welcome to

the second idea generator, which, by the way, is incredibly useful for serving

personnel and their spouses/partners. In this scenario you step back – step

out of the trenches and see what is going on. By this I mean you are checking

in with your strong drives and desires, and the marketplace. Ask yourself this

question, ‘If I could do anything, anything at all, what would it be?’ Now I know

you may be busy as you are reading this article but I encourage you to stop for a

minute and actually write down a few of your ‘must do’ ideas. These are passions

you know you would go the extra distance for.

You actually wrote them down? Congratulations! Now yes, I know all the ideas

you have now written down will not become viable enterprises. You may have some

restrictions such as:

• You may still be serving and can only work on your business on a part-time

basis

• You expect to be transferred in the near future, so your business needs to be

mobile (which is why technology-based enterprises are so attractive – more later)

• You have a young family to be cared for, again limiting your time

But these restrictions should not stop you from thinking about and writing

down ideas you are strongly drawn to. An idea not backed with conviction

and passion is almost assuredly next month’s abandoned project.

So here is your next step in vetting and prioritizing your ideas. Try and