Five Days to a More Profitable Business

Five Days to a More Profitable Business

As-Is Strategy, Blue Ocean Articles, Strategic Planning
Five days to a more profitable business. That's our attempt at a catchy headline. We are, however, going to see that you receive some value before leaving the page. Here at the Blue Ocean Strategist, we're committed to seeing that every reader leaves with something that benefits their business in some way. Let's get started on that effort right now. In Blue Ocean Strategy terms, the key goal is value innovation. That is defined as breaking the value/cost tradeoff. That tradeoff in traditional business is when a company either raises its price and subsequently its offering's value or lowers the price and decreases the value of its offering. Think Ford Motor Company's attempt over the years to trick out a Crown Victoria with added luxury, call it a Mercury and…
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Meet Value Innovators The Drury Brothers of 1 Stroke Club

Meet Value Innovators The Drury Brothers of 1 Stroke Club

Blue Ocean Articles, Six Paths Framework, Strategic Models, The Value Innovators
Meet value innovators the Drury brothers of 1StrokeClub.com. The Value Innovators Show is a webisode series featuring company founders that have launched or run companies that exhibit numerous qualities of blue ocean strategy. Some of these founders have a clue that they've done something related to blue ocean strategy. Most do not. I met one of the founding brothers, Brian Drury via a great Nashville connector, Todd Bowman of Insperity. Brian and I struck up a business relationship that has served to keep us connected and aware of what's going on in our professional lives. Brian mentioned on a recent call that he and his brothers, Grant and Kyle, had launched a business. I immediately inquired as to the nature of the venture and was truly impressed. [embed]https://youtu.be/ehOpT_JVkOo[/embed] Brian explained…
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Sports Challenges are Thriving with Blue Ocean Thinking

Sports Challenges are Thriving with Blue Ocean Thinking

Blue Ocean Articles, Six Paths Framework, Strategic Models, Strategic Planning
Sports challenges are thriving with blue ocean thinking. Our culture loves the thought of winning big. Winning big with a half-court throw at a basketball game or a mid-rink puck strike into the net at a hockey game. One of the more popular prizes fantasized about by those who golf is the hole in one prize offered in most golf tournaments. If you've done any golfing and found yourself in a foursome in a local tournament, there is a good chance at some par three hole on the course, there was a car parked close by. The car had a bow on it and the premise was simple. Get a hole in one and the car is yours. Sometimes it's cash, sometimes a vacation, or something else of significant value.…
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Alignment’s Role in Strategic Implementation

Alignment’s Role in Strategic Implementation

Blue Ocean Articles, Strategic Models, Strategic Planning
Alignment's role in strategic implementations. Isn't it interesting how important alignment is across all of life? Think into two common definitions of alignment. 1) arrangement in a straight line, or in correct or appropriate relative positions. "the tiles had slipped out of alignment" 2) a position of agreement or alliance. "the uncertain nature of political alignments" In strategic thinking, we're focusing on correct or appropriate relative positions and positions of agreement or alliance.  In blue ocean strategy implementations, we focus on reconstructing market boundaries and value innovation as a path toward unlocking vast oceans of uncontested market space. Alignment of value, profit, and people is required for these implementations to be realized and sustainable. What is meant by the alignment of value, profit, and people? In blue ocean strategy terms,…
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Executing Your Strategic Implementation

Executing Your Strategic Implementation

Blue Ocean Articles, Strategic Planning
It's a new year. Many of you are now executing your strategic implementations. It doesn't matter if your initiative is a blue ocean shift or a more traditional red ocean implementation you can take steps to make sure your ideas move forward. The companies that execute are the ones that feature a workforce, stakeholders, and a public that are all on the same page. In the end, companies, whether large or small have to harness the cooperative attitudes and behaviors of all people involved in the company. If you're a small business, this cooperation may come from a spouse or partner. If you're a large business, it may come from your board and employees. No matter what, to successfully implement strategic change, you have to have buy-in. So how to…
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Overcome Your Organization’s Hurdles

Overcome Your Organization’s Hurdles

Blue Ocean Articles, Branding, Strategic Models
When your company or division develops a blue ocean strategy with a profitable offering, it's time to overcome your organization's hurdles. Implementing any strategic plan or shift is a challenge. When you're rolling out a key innovation that rattles the status quo, you can bet the haters will show their ugly side. Blue ocean practitioners have found the following hurdles to be the most predominant. Hurdle one? The cognitive hurdle found in simply getting constituents, employees, and stakeholders to understand the need for change. Hurdle two is limited resources. The more significant your strategic shift is believed to be, the more expensive it will be perceived to execute. It's typical to find the biggest blue ocean shifts need to happen during times when budgets are most strained. The third hurdle…
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From Exceptional Utility to Getting Your Price Right

From Exceptional Utility to Getting Your Price Right

Blue Ocean Articles, Strategic Planning
Revenue streams are a function of transactions. In most cases, more transactions lead to more revenue. Today, we are going to move from exceptional utility to getting your price right. Getting your price right is a process in blue ocean thinking. We have discussed the sequences around product design in blue ocean terms. We have covered the importance of developing the AS-IS Strategy canvas and distinguishing your offering from that of your competition's. Review these topics if desired here. Reconstructing Boundaries with the Six Paths Framework Focus on the Big Picture and Not the Numbers Finding Markets from Non Customers Implementation of Blue Ocean Strategy  Most companies think that an analysis of competitor pricing is the determining factor in pricing their offering. They fall for the red ocean trap of…
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Blue Ocean Strategy for Sole Proprietors: Finding Growth from Non-Customers

Blue Ocean Strategy for Sole Proprietors: Finding Growth from Non-Customers

Blue Ocean Articles, Blue Ocean Strategy for SoleProprietors, Strategic Planning, Three Tiers of NonCustomers
Blue Ocean Strategy for Sole Proprietors: Finding Growth from Non-Customers. This is where blue ocean frameworks and tools begin to pay off and deliver revenue. "We should not listen to customers and most people, when we’re designing a breakthrough because most people can’t see it. Now, when you’re doing incremental things, customer feedback is awesome. But in general, most people cannot see a breakthrough, whether they’re customers, partners, potential employees, or even potential investors." Christopher Lochhead This quote is congruent with the Blue Ocean Strategist's view toward noncustomers. Blue oceans of uncontested market space do NOT come from current customers. It sounds contrarian for sure. Reaching beyond existing demand is a process and requires discipline and courage. Most companies simply compete on their industry's key factors of competition and don't go…
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Blue Ocean Strategy for Solopreneurs: Big Picture Thinking Implementation

Blue Ocean Strategy for Solopreneurs: Big Picture Thinking Implementation

As-Is Strategy, Blue Ocean Articles, ERRC Grid, To-Be Strategy Canvas
Today we cover Blue Ocean for Strategy for Solopreneurs: Big Picture Thinking Implementation. In this series, we're breaking down the business bestseller Blue Ocean Strategy: How to Create Uncontested Marketspace and Make the Competition Irrelevant. Today, in Blue Ocean Strategy for Solopreneurs: Big Picture Thinking Implementation, we wrap up our last post on big picture thinking and discuss how to use the As-Is and To-Be Strategy Canvas as well as the ERRC Grid. In review, the As-Is strategy canvas is a visual depiction of your industry and the company's state of play. It lays out the key factors of competition along a horizontal axis. It cannot be overstated how important the discoveries will be when you start to honestly assess your company's key factors of competition. Most businesses find that…
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Blue Ocean Strategy for Solopreneurs: Focus on the Big Picture, Not the Numbers

Blue Ocean Strategy for Solopreneurs: Focus on the Big Picture, Not the Numbers

As-Is Strategy, Blue Ocean Articles, Six Paths Framework, Strategic Planning, To-Be Strategy Canvas
You may recall, the first principle of Blue Ocean Strategy is the reconstruction of market boundaries. Without permission internally, and a process to break your industry boundaries, it will be impossible to move into blue oceans of uncontested market space. In today's post, we learn how important the second principle is in blue ocean strategy for solopreneurs. Focus on the big picture, not the numbers. The temptation when planning is to launch into a business plan or strategic plan and use templates that one finds online or using some process read about when researching a business, marketing, or strategic plan. I have been guilty of the same thing. Before I know it, I've played office and have spent a week mocking up fabulous charts, graphs, marketing and sales projections, and…
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