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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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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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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A Blue Ocean Studio™️ Software training course offering is coming soon

A Blue Ocean Studio™️ Software training course offering is coming soon

Blue Ocean Articles, Strategic Planning
Behind the scenes here at The Blue Ocean Strategist, we're building a course on using Blue Ocean Studio Software. The software, found at https://bogn.com is a useful set of proprietary software tools built by a team licensed to deliver the tools for Blue Ocean Strategists all over the world. Blue Ocean Studio™ is an intuitive online learning and application workspace that allows one to effectively learn and apply the blue ocean concepts, and collaborate with one's team as all work to formulate blue ocean moves. Whether you see yourself as an entrepreneur, a business leader, an educator, a government civil servant, a shift in perspective is often helpful. If you simply want to create new ideas to solve an existing problem which stand apart from the rest, redefine an existing…
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Map your today and reveal your tomorrow. A restaurant industry example.

Map your today and reveal your tomorrow. A restaurant industry example.

Blue Ocean Articles, Strategic Models
Map your today and reveal your tomorrow. A restaurant example. Taking a look at where one is today is extremely important. In Blue Ocean Strategy, the As-Is Strategy Canvas is a great tool to gauge where you are in the context of key competitive factors. It's hard to modify something that works. When a dish sells okay and makes money, it can be difficult to change it.  It's important to remember this extremely vital truth. Market share is a lagging indicator. Yes. Meaningful but not the entire story. Think of all the market leaders that existed in the automotive industry in the 60s. It wasn't long before leading automakers were getting their butts handed to them. Kodak used to lead in film. So what right? In today's market, market share…
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The days of building alcohol brands at restaurants, bars, and venues are over.

The days of building alcohol brands at restaurants, bars, and venues are over.

Blue Ocean Articles, ERRC Grid
It's time to disrupt and innovate the promotion and marketing model of spirits, wine, and beer. Sampling and tasting methods of marketing are broken and hundreds of millions of dollars have been wasted on what brands perceive to be tried and true models. In Blue Ocean Strategy parlance, there is a need for a new value proposition. One of the ways a new value proposition is developed is via the ERRC Grid in Blue Ocean Strategy. One goes through and exercise, generally with use of the As-Is Strategy Canvas to determine the current strategic key factors of competition. This helps define the current state of play.  It provides data and insight leading to the hard decisions around what may be eliminated, reduced, raised, and created. Hence, ERRC. The culmination of the…
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From product development to pricing. Irresistible pricing doesn’t mean the lowest.

From product development to pricing. Irresistible pricing doesn’t mean the lowest.

Blue Ocean Articles
After the last several posts, I shared significant information and examples about measuring and determining buyer experiences through use of the Buyer Utility Map. After you've asked the important questions about how buyers experience your product or service, you're now ready to do the work of pricing your product or service. Blue Ocean Strategists often use a tool to assist in strategic pricing of a product or service. The tool assist product managers and strategists find the right price for that hard fought innovation. Often times, it is not the lowest price. When you launch or innovate into blue ocean waters, price pressures are not a common problem. There are two steps in the tool's use. Step One: Identify the Price Corridor of the Target Mass Sounds confusing but it…
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Redefine and then solve  industry problems.

Redefine and then solve industry problems.

As-Is Strategy, Blue Ocean Articles
There has been no better time to identify new problems for brands and companies than in recent months. With over 20 million jobs lost in the US and the globe on some measure of "stay at home" order, the rules of most marketing games have changed. I am Co-Founder of a company that built a wonderful technology allowing brands in the spirits, wine, and beer industries to associate marketing spends through our agency. Its primary function was/is to be a "Venmo for Cocktails" so to speak. The cool feature that is game changing is our ability to put drink credits into the accounts of brand ambassadors for them to share with others. Sounds cool. As of March 2020, it's largely irrelevant. Not for sure how long but it will be…
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