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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You don’t always need new tech to grow new market share

You don’t always need new tech to grow new market share

Blue Ocean Articles
There is a common misconception that blue ocean strategic innovation leading to new markets is always about new technologies. This is not always the case. Obviously, there are some technological innovations that lead to Blue Oceans. Cloud computing led to companies like Salesforce and Eventbrite. These companies revolutionized their respective industries. However, technology in and of itself, isn't a pre-requisite to blue oceans. Value innovation, not technological innovation, is the key to opening up commercial viability. When a stellar NFL player retires from the playing field, he's the same person. Technology isn't involved in his new value proposition to the world. It may enhance his message but he's required to shift his value from that of a tackle, QB, defensive end, or kicker and become something the wider world, i.e.…
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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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