Blue Ocean for Solopreneurs. Reconstruct Boundaries with Path 4 of Six

Blue Ocean for Solopreneurs. Reconstruct Boundaries with Path 4 of Six

Blue Ocean Articles, Six Paths Framework, Strategic Planning
It's time to share another post dealing with blue ocean for solopreneurs. Reconstruct boundaries with path 4 of six. There are six pathways in this particular part of the blue ocean strategy implementation sequence. As a reminder, the first principle of blue ocean strategy is to reconstruct market boundaries. It is this willingness to question industry established boundaries and slaughter the sacred cows that is so exciting about the blue ocean shift process. Anytime some newcomer is nipping at the heels of an industry player, oftentimes without their knowledge and other times in plain sight, it is very exciting. Think Innovator's Dilemma. A study or implementation of blue ocean strategy includes the understanding and implementation of tools and frameworks that have been studied and proven to work in company after…
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Firewood Plus Blue Ocean Strategy Equals Value Innovation

Firewood Plus Blue Ocean Strategy Equals Value Innovation

Blue Ocean Articles, ERRC Grid, The Value Innovators
Firewood plus blue ocean strategy equals value innovation. In the Fall of 2020, my wife and I went to a local Lowes store to secure a small bundle of wood for a fire pit that evening. The weather had turned cool and the experience of burning a few logs on our back patio for the first time in two years was exciting to us. For years, in a single-family detached home, we were easily doing a firepit on average, twice a week. Over the last couple of years, the condo restrictions had us a little gun shy about whether or not to do a fire pit on our back patio. I decided to find a bucket big enough to hold two or three logs and have a fire pit. Having…
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Blue Ocean for Solopreneurs. Reconstruct Boundaries with Path 3 of Six.

Blue Ocean for Solopreneurs. Reconstruct Boundaries with Path 3 of Six.

Blue Ocean Articles, Six Paths Framework
In this article, Blue Ocean for Solopreneurs. Reconstruct Boundaries with Path 3 of Six, we break down path 3 of the six paths framework. Path 3: Look Across the Chain of Buyers In most marketing and sales training, you are prompted to develop a buyer persona. The buyer persona will be focused on your opinion or history of who purchases your offering. In the absence of other processes, this a great exercise. Some businesses resist strategic thought about buyer personas. Blue Ocean Strategy invites the participant to broaden the definition of the buyer. As a sole proprietor, small business owner, or division leader, there are more possible definitions of buyer than you may realize. When Joann K, a distiller with a growing spirits brand seeks to sell her products to…
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Blue Ocean for Solopreneurs. Reconstruct Boundaries with Path 2 of Six.

Blue Ocean for Solopreneurs. Reconstruct Boundaries with Path 2 of Six.

As-Is Strategy, Blue Ocean Articles, Six Paths Framework
In this post, I break down blue ocean strategy's six paths framework and cover path 2. We are diving into blue ocean for solopreneurs. Reconstruct boundaries with path 2 of 6. Today's translation of Blue Ocean Strategy deals with path 2 of the six paths framework. Path 2: Look across strategic groups within industries. In the book, it is noted that most companies seek to bolster their position within the same strategic group. It provides us the example of Mercedes, Jaguar, and BMW all pursuing customers in the luxury category. They don't spend much time reaching out to those new car buyers in the economy class. Alternatively, the blue ocean strategy success story provided is Curves, the successful women's workout facility that began franchising in 1995. They succeeded for a…
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Blue Ocean for Solopreneurs. Reconstruct Your Boundaries.

Blue Ocean for Solopreneurs. Reconstruct Your Boundaries.

Blue Ocean Articles, Six Paths Framework
Blue ocean for solopreneurs? Reconstruct your boundaries. Candidly, the ability to recreate, modify, enhance, or redefine industries is my all-time favorite business topic. Redefining and recreating one's life is my favorite personal topic! Chapter three of Blue Ocean Strategy starts with "The first principle of blue ocean strategy is to reconstruct market boundaries to break from the competition and create blue oceans." The challenge is to identify and implement countless opportunities for blue ocean growth. The authors of Blue Ocean Strategy found clear patterns for creating blue oceans. Research of companies and industries led to the identification of six basic approaches. Over the years, validation of these six approaches has been codified as the six paths framework. In this post, blue ocean strategy for solopreneurs; reconstruct your boundaries, path one;…
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Blue Ocean Strategy Frameworks for Solopreneurs Part Three

Blue Ocean Strategy Frameworks for Solopreneurs Part Three

Blue Ocean Articles, Six Paths Framework
Today's post covers blue ocean strategy frameworks for solopreneurs part three. In our previous posts on blue ocean strategy frameworks, we covered the As-Is Strategy Canvas and the ERRC Grid or Eliminate, Reduce, Raise, Create Grid. There are some final details in section two of the book Blue Ocean Strategy that need to be covered before we move on to chapter three. As a reminder, I am re-reading Blue Ocean Strategy, How to Create Uncontested Market Space and Make the Competition Irrelevant with an eye toward translating it into language appropriate for the solopreneur or small business owner. There are three characteristics of a good strategy. The first characteristic of a good strategy is focus. When you read any strong case study, you'll find a disciplined focused approach. While there…
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Solopreneurship. Is it for Boomers?

Solopreneurship. Is it for Boomers?

Blue Ocean Articles
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, 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, 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
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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