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 with others in your industry.
Effective blue ocean strategy implementation is about risk mitigation and not risk-taking.
An example. A new wine company whose CEO and founder I know is launching an innovative wine brand. A Value Innovators Show interview of this leader is found here.
It features high-quality family-owned vineyard wine, a low waste delivery system, and a high-profit margin to the restaurant.
All while still delivering a value-based price point to the consumer.
He leveraged his connections across distributor, supplier, and hospitality industries to launch, deliver, and revenue in 8 months. While he won’t officially be in the black until Q1 2021, his strategic planning allows blue ocean strategic implementation within months of launching his startup.
How did he do it?
Through a thorough analysis of the industry. He knew the state of play. His use of a strategy canvas, the first tool in the blue ocean arsenal, helped him refine his message, tag line, and product pitch.
One of the most powerful modules we spend time on in the Blue Ocean Strategy for Solopreneurs Mentorship Program is the strategy canvas.
Construction of the As-Is Strategy Canvas is a great way to learn your industry’s current state of play. The strategy canvas leads to a strategic profile. The profile identifies very graphically the value curve.
“The value curve is a graphical depiction of where a company competes within the ranks of its competitors. “
Once you have information that details how your offerings compare to the industry and your competitors, you can begin the move from fighting for competitor market share to serving massive markets that are untouched by your industry or competitors. Blue ocean strategy tools and frameworks for solopreneurs are necessary for these reasons and many others.
In this module of our ongoing Blue Ocean Strategy for Solopreneurs Mentorship Program, we will be going through every business represented by a member and do a thorough As-Is Strategy Canvas. This baseline will serve as our blue ocean starting point.
If you’re interested in this work for you or your operation, get on the Waitlist. Many will apply. We are limiting the size of this first cohort so time is of the essence.