Business Mastery for Entrepreneurs – Part 28: What is the Best Strategy for Your Business? – Tool XXI – Blue Ocean Strategy

In today’s blog post, I will share another great visionary approach, the blue ocean strategy.

What if you could consistently create new business where there is little to no competition?

Let me show you how to use this strategy to create great results!

Overview

⇒ What is a blue ocean strategy?
⇒ Who created this tool?
⇒ What are the key points?

What is a blue ocean strategy?

The term “Blue Ocean” stems from the idea that there are opportunities in each industry to move from the competitive battles around price and features (red ocean) into a new market reality where your typical competitors are either non-existent or irrelevant.

Who created this tool?

Chan Kim and Renée Mauborgne¹ explored in their book “Blue Ocean Strategy” how to create uncontested market space and make the competition irrelevant.

What are the key points?

Key Point #1: The Blue Ocean Strategy provides a fast and analytical approach to ideation and innovation.
Key Point #2: With this strategy, innovators are able to systematically think through ways to create value for their target customers versus the competition.
Key Point #3: Lasting success comes not from battling competitors but from creating “blue oceans” – untapped new market spaces ripe for growth.

Supporting you

I´m available to support you by re-imagine your business and propel it to the next level. The blue ocean strategy will help your company to create new ideas, services and products that create new uncontested markets so your long-term success is ensured.

Contact me for a complimentary 30-minute strategy session:

https://nextlevelcoach.as.me/schedule.php

1. Chan Kim, Renée Mauborgne, Blue Ocean Strategy, 2015

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