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Solopreneurship. Is it for Boomers?

Solopreneurship. Is it for Boomers?

Blue Ocean Articles, BOS for Solopreneurs
I ask this question after hearing the esteemed Prof G., Scott Galloway share his thoughts on how entrepreneurship is a young person's game. Let's discuss solopreneurship. Is it for boomers? First, there may be a distinction to be made around solopreneurship and entrepreneurship. For the most part, I would argue that solopreneurship is about building a cottage industry of sorts. It is the desire to work independently from a team and the necessity to scale something. Whereas entrepreneurship implies the desire to build something that will be bigger than oneself and a willingness to strap on all the necessary baggage to make it happen. Funding, team, development, attorney's, travel, etc. For the most part, I concur with Prof G. Entrepreneurship is a 24/7 endeavor with sacrifices that generally keep one…
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Blue Ocean Frameworks for Solopreneurs Part Two

Blue Ocean Frameworks for Solopreneurs Part Two

Blue Ocean Articles, BOS for Solopreneurs, ERRC Grid
Previously, we shared some highlights of blue ocean strategy tools and frameworks from Chapter Two of Blue Ocean Strategy, How to Create Uncontested Market Space and Make the Competition Irrelevant. Today we cover blue ocean frameworks for solopreneurs, part two. This is also from chapter two of the book. As solopreneurs, we should still want to build unique blue ocean-influenced companies. We should seek to move from being a competitor to an alternative. We should strive to serve non-customers over customers. When companies of any size begin to serve non-customers with an alternative to the competition, growth becomes explosive and fast. There are two significant tools shared in chapter two. They are two of our favorites. They are the Four Actions Framework and the ERRC Grid. Let's start with the…
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Blue Ocean Strategy Tools and Frameworks for Solopreneurs

Blue Ocean Strategy Tools and Frameworks for Solopreneurs

Blue Ocean Articles, BOS for Solopreneurs, Strategic Planning
The strengths of blue ocean strategy are its tools and frameworks for solopreneurs. Candidly, the first book, as well as the subsequent bestseller, Blue Ocean Shift, are not really written for the solopreneur.  Translating the text specifically to solo operators is our goal in this series. It will also be the mission of the Blue Ocean Strategy for Solopreneurs Mentorship Program.  When you read chapter two, you are taken you into a discussion of analytical tools and frameworks. When you have systems and processes that you may implement on your journey to new customers, you are much more likely to succeed.  It's very difficult to innovate on the fly. Without a real plan for asking the right questions to the correct audience, you will find yourself defaulting to simply competing…
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Creating Blue Oceans for Solopreneurs

Creating Blue Oceans for Solopreneurs

Blue Ocean Articles, BOS for Solopreneurs
Creating blue oceans for solopreneurs.  In chapter one of Blue Ocean Strategy|How to Create Uncontested Market Space and Make the Competiton Irrelevant, the authors discuss the underlying premise for creating blue oceans. My work involves translating this important work. In the book's first case study, Cirque du Soleil is described as a company that created new uncontested market space by ignoring conventional market or industry boundaries. In doing so, they didn't benchmark themselves against competitors in traditional circus productions or conventional theater tours. They broke the value-cost trade-off and lowered production cost while simultaneously increasing customer value. Value innovation is the heart of blue ocean strategy and it serves to drive profitable growth. Be mindful that Cirque du Soleil started as a street team.  As mentioned in a post that started…
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Blue Ocean Solopreneurs – The Series

Blue Ocean Solopreneurs – The Series

Blue Ocean Articles, BOS for Solopreneurs
I am spending the next few weeks writing and publishing a sequence of posts titled Blue Ocean Solopreneurs - The Series. Solopreneurs are a brave and inspiring group. They are thrown into business out of necessity. Occasionally, they launch businesses simply to supplement their W-2 incomes. Interesting economic times call for innovation and new ways of looking at things. As mentioned in a previous post, the solopreneur community is now over 41,000,000. There are thousands of resources around marketing, sales, finance, and operations for solopreneurs. There is a shortage of strong strategic planning and growth models for solopreneurs. The Blue Ocean Strategy model developed by W. Chan Kim and Renee Mauborgne has successfully led to value innovation and explosive growth of blue oceans of uncontested markets for countless businesses. It…
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Blue Ocean Strategy for Solopreneurs

Blue Ocean Strategy for Solopreneurs

As-Is Strategy, BOS for Solopreneurs, Branding
Finding strategic planning services for solopreneurs is a challenge. There is a need for Blue Ocean Strategy communities for solopreneurs. Let's be clear on a couple of definitions. Solopreneurship implies that all tasks, responsibilities, and results fall to the single business owner. [caption id="attachment_1667" align="alignnone" width="746"]                                                     From Merriam-Webster[/caption] I can't disagree with this definition but I will add to it. I've been a solopreneur for years. However, I've not worked alone. I have relationships with contractors all over the world. I have collaborators. I'm responsible for making all decisions but I don't do so in a vacuum. Savvy solopreneurs are able to generate significant…
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Meet Value Innovator Amber Ambrose

Meet Value Innovator Amber Ambrose

Blue Ocean Articles, The Value Innovators
If you wish to be inspired by great people doing good work during tough times; meet value innovator Amber Ambrose. Amber is a co-founder of Ambrose McDowell Communications. The firm is a Houston based writing firm with tremendous strength in social media. As a Blue Ocean Strategist, my interest in companies surrounds the unique value propositions offered to their customers. I'm curious about their niches, their current customers, and their approach to identifying new markets. I met Amber during her time as a show host for a significant online video firm. Interviews were conducted with interesting business leaders in various markets. She made a move into firm ownership shortly after our having been connected. You will find a Blue Ocean thread around value innovation when companies are surviving and thriving…
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Meet Car Buying Value Innovator Terry Lancaster

Meet Car Buying Value Innovator Terry Lancaster

Blue Ocean Articles, The Value Innovators
If you've ever bought a car or truck and intend to do so again, you need to meet car buying value innovator Terry Lancaster. The automotive manufacturing, sales, and service industries have been in a constant state of flux for decades. Antiquated methods of distribution, sales, and service are being disrupted. Laws governing dealer franchise relationships with manufacturers are being challenged. Sales models are being changed allowing a more direct to manufacturer relationship with buyers. Online transactions that don't involve direct interaction with sales staff are on the rise. Intermediaries for information, Kelly Blue Book, Edmunds, and more dominate the "research" space for new and used car buyers. Through March of 2019, over 5 million cars have been sold on Ebay. The world buys cars differently now. Hence your need…
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Fundraising During COVID – A Blue Ocean Strategic View

Fundraising During COVID – A Blue Ocean Strategic View

Blue Ocean Articles, Buyer Utility Maps
Fundraising during COVID is presenting tremendous challenges. It's appropriate to share as Blue Ocean strategic view. As a refresher, Blue Ocean Strategy's premise is that new customers/donors/constituents are found in an organization's current non-customers. The product or service offering must be a value innovation. Value innovation implies the costs of the offering has come down while the value of the offering has simultaneously risen. A negative impact "Most fundraisers expect to see some negative impact into 2021, with close to 72% anticipating that giving next year will continue to be lower than in a typical year. Approximately 16% believe giving will be about the same, while 12% think giving will increase in 2021." “We expected to see a significant drop in giving as a result of COVID-19, and our data…
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Meet Value Innovator Shannon Rizzo

Meet Value Innovator Shannon Rizzo

Blue Ocean Articles, The Value Innovators
When you become familiar with the Blue Ocean Strategy concept of value innovation, you soon recognize the simultaneous lowering of cost while adding value to the consumer. Few entrepreneurs I've spoken with have managed the move from cottage industry or solopreneurship to scaling a business quite like the guest of today's post and interview. Meet value innovator Shannon Rizzo. Shannon puts it this way on her website. "Shannon Rizzo Co. offers a breakthrough experience for all women who are looking for more from life. Become boundless by exploring your passion for entrepreneurship or simply learn to live life through a more spiritual connection with your purpose. This process allows all women who are ready to design their life in living color set their hearts on fire and live life to…
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