In today’s post, Blue Ocean for Solopreneurs. Reconstruct Boundaries with Path 6 of Six, we discuss looking across time. No, we’re not learning how to forecast the future. We are, however, learning a framework around assessing trends.
When a company or individual learns to assess trends, serve the culture, and then get in front of those trends using all the other frameworks, magic begins to take place.
What special qualities of looking across time work in the context of blue ocean strategy? You have to look at the trends for blue ocean for solopreneurs and reconstruct boundaries with path 6 of six with these questions in mind.
What trends have a high probability of impacting or are decisive to your industry? What trends are irreversible and what trends have a clear trajectory?
In the text, Blue Ocean Strategy, Apple and its music business are shared as blue ocean strategy examples. Apple recognized trends from what had happened at Napster that millions of people were illegally downloading music. The industry was attempting to fight back and was ripe to make a deal that monetized downloading. Licensing met with technology and a legitimate business was born and immense value innovation was created.
Similarly, Cisco Systems saw the explosive growth of the internet. They understood innovative solutions were called for.
What might the solopreneur do?
Where might the solopreneur or small business owner go with this framework? In many cases, it’s the solopreneur’s opportunity to adopt new technologies to serve customers in new ways or approach entire cohorts of new customers.
For example, what trends are impacting the accounting industry? Initially, cloud computing and cloud-based accounting software were challenges. CPA’s had to adopt industry trends toward uploading sensitive financial documents or being granted access to sensitive financial information via shared access to client bookkeeping portals. This kind of collaboration with clients is now a given. As a result of forward-looking software firms and CPA firms who understood that better ways to serve clients were needed, new value to the relationship between client and firm now exists.
What trends have the highest possible impact on your industry?
As a spirits, wine, and beer marketing firm, Shared Spirits Marketing, understood that digital marketing was a significant trend affecting the spirits space. New measures of effectiveness were needed for activations and digital marketing. New tools were coming to the market allowing influencers, celebrities, and others to be ambassadors for spirits and wine brands. These trends are absolutely irreversible. They are following a clear trajectory.
As a small business owner or solopreneur, you absolutely have an opportunity to shape trends in your business.
Do this exercise monthly.
Set aside a two-hour block of time and find a quiet location.
Review each of the six paths in the six paths framework.
and today’s Path Six. Constantly asked the following questions.
What trends are affecting my industry?
Are these trends irreversible?
Is there a clear trajectory to these trends?
If you would like to discuss the power of blue ocean strategic implementation in your business, schedule your complimentary blue ocean discussion with Insead Blue Ocean Strategy Institute Certified Blue Ocean Strategist, Sherman Mohr. Click here.