Who: Sheree Wells, owner of Travelbug Baby Equipment Rentals. Travelbug Baby "goes the distance," so your family can explore Toronto in comfort and style with their baby rental equipment. They rent top brands with an extensive inventory that includes strollers, car seats, cribs, and even bottle sterilizers. Their service includes delivery, set-up, and pick-up, so that you can focus more on the adventure rather than the packing.
In Business Since: 2013
Business Highlights: "I have had many small victories and have garnered a strong social media following in 4.5 months (just broke 550 on Twitter). However, I still value and believe that developing a business plan has been one of my biggest accomplishments. It's often overlooked yet critical for success. It helps to keep me focused when there are so many daily distractions—and there are many including my three-year-old. More importantly, it gives me clarity on what I am providing, how I am doing it and how I am selling it."
Business Question: How mindful do you need to be about what your competition is doing and how much should it influence what you do?
Spark’s Insights: This is a great question. Here’s our take: You should absolutely be aware of what your competition is doing. We encourage every entrepreneur to look at the best practices of the competition—you’ll very likely learn something. The competition is in your exact space, and may have great ideas for products, markets, and processes. That being said, you can’t let the competition distract you from your own business. It’s essential that you understand why your business is unique and what you can deliver to customers. Most importantly, you have a set direction and plan to get you there, so keep your eyes on your own prize.
Sheree’s Advice to Other Entrepreneurs: My best tip is to listen to yourself and adjust your expectations. Your business will most likely evolve slower than you realize and depend on the age/stage of your little ones. On the days that you feel you are not being productive, make a to-do list that includes what you do for your children. Pat yourself on the back or surround yourself with people who will do it for you when you need it the most. But, the bottom line is: never give up or give in—you won’t regret it.
We have thought a lot about the subject of competition. You can read more here.
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