Our friends over at Business Rockstars put together a simple inspiring one minute on the sharing economy and the opportunity it represents for entrepreneurs. Here it is.
But it got me thinking about entrepreneurship and taking that leap into starting a business in general. The truth is that although Airbnb and Uber and all the others are doing spectacularly well and are changing the way some segments of the economy work, there is a big opportunity for sharing or lending businesses of all kinds. The electric drill that Ken mentioned in the video at the start is a symbol of tool rental businesses like Cresco Equipment Rental where ordinary people can go rent the kinds of tools they not only could share but should never buy for themselves. I’ve rented a jackhammer from Cresco Equipment Rental. It was a lifesaver and a pocketbook saver.
And many of these businesses can be local rather than national or global. Some of the categories that exist already are things like party furniture, storage space, and so on. Of course the new sharing businesses are providing the infrastructure to let ANYONE who owns an item rent it out to ANYONE else directly. For some cases this is a great business model and for others (the big tool rental business stands out) the average person does not own the equipment in question.
The point is, however, that the entrepreneurial opportunity is there wherever there is a demand for a good or service and an unused supply elsewhere. Make a business out of putting the two together.