You have enough customers already?

You have enough customers already?

Blue Ocean Articles, Three Tiers of NonCustomers
You have enough customers already? Have you heard stories of margins being thinned? Many are experiencing a disruption in their industries. Thousands are selling more and earning less. Are customers abandoning offerings of services or products for the competitions? When you want to transcend competition there is a playbook in place. It’s scripted and proven. It’s the Blue Ocean Strategy way. The premise?  Create new demand and grow your industry, rather than compete for existing customers. One of the first steps of the blue ocean shift process is to identify demand beyond your industry. These are your noncustomers. They are buyers that don’t buy into your industry, product, or service yet. Take a look at this visualization. You have your current market. We’re trained in many ways as business professionals to hold current customers sacred.…
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You don’t have to be first to market or first to pivot. That’s a myth.

You don’t have to be first to market or first to pivot. That’s a myth.

Blue Ocean Articles
Red ocean trap four? To create a blue ocean of uncontested market space, you have to be first to market. There are tons of reasons this is a myth but my favorite is cited in the book, Blue Ocean Strategy. Creating new oceans of uncontested market space is about being the first to link innovation to value, not about being first to the market. Apple's iMac is a stated example. It wasn't the first pc. The iPod wasn't the first MP3 player. Southwest Airlines wasn't the first airline to do short hops and no frills. In this series, you're seeing a massively consistent theme. Value innovation. Let's take a look at the value innovation in Blue Ocean terms. As you can see in the above image, if you're a company…
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New markets are closer than you realize

New markets are closer than you realize

Blue Ocean Articles
Often times a company owner or solopreneur believes that their core offerings or core business aren't sufficient to find new markets or new customers. They end up in the trap of price reductions, reduced margins, or moving to a premium offering that doesn't sell. They venture far away from their core expertise or the core expertise of their team. Red ocean trap two is a challenging one. I get it. Your customers have vanished, your service or product isn't selling and what to do? There are processes in place that allow you to take some control. Think about some tangible examples. Casella wines was in the wine business prior to their launch of Yellowtail wines. Yellowtail's blue ocean success didn't come from a company that was out of the wine…
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