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…
Read More
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…
Read More
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…
Read More
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…
Read More
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…
Read More
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…
Read More