It's been a couple of years since I first was introduced to Blue Ocean Strategy and it's principles continue to be seen from day to day. Part of the Strategy, suggests that you as a individual in your Personal Brand, or your firm as a company, create value proposition that is very different than the competition. What you bring to your industry or customers that is so unique that you begin to leave the competition "in the dust" or playing in that other "red" ocean where everyone is biting off small pieces of the same pie.
Having the opportunity to spend some time this week at Insead University, which is where the two authors of the Blue Ocean Strategy collaborated for their research, I am amazed at how the "Strategy" has turned into a whole educational practice here at one of the top Graduate Business Schools in the World and via corporate training programs that can develop simulations for an individual company or group.
Continual reminders of Blue Ocean Strategy:
** Create uncontested market space
** Make the Competition irrelevant
** Create and Capture new demand
** Break the Value-Cost trade off
** Align the whole system of a firm's activities with it's strategic choice of differentiation and low cost
In Today's World . . . Businesses need "Fans & Advocates" .vs just customers.
As you go forward in your business, what are you doing to turn your customers into raving Fans?
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