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Celebrate Change
Finding Blue Oceans
“It's not enough to be the best at what you do; you must be perceived as the only one who does what you do.” ―Jerry Garcia
The Grateful Dead transcended all the typical stereotypes of modern rock superstars - and in the process, created an almost cult-like following of fans that spanned decade upon decade. As seen in the quote above, a large porition of their appeal came in re-thinking the entire category of live performance and music copyright. Instead of slavishly protecting their songs, they actively encouraged fans to come and record concerts. These bootleg tapes in turn became prized classics shared by fans, further driving concert attendance.
When it comes to making change - sometimes it the best changes are to “zig when everyone else is zagging”. In other words, head to the blue oceans and away from from the bloody red zone of competition. The famous consulting book Blue Ocean Strategy highlighted this powerful approach of business planning that can guide both companies and individuals to make dramatic and meaningful change. Instead of competing with everyone else in a bloody ocean of competition, the “red oceans”, the blue ocean of new and untapped possibilities and markets is where we should look for our next opportunities, and give us the confidence to make bold changes.
According to the authors, “Blue ocean strategy doesn’t aim to out-perform the competition. It aims to make the competition irrelevant by reconstructing industry boundaries.”
Here are three simple steps to get started on the path to finding your own Blue Ocean:
1. Assess Your Current Position: Evaluate your current market space. Understand the competition, customer demands, and your unique selling propositions.
2. Identify Red Ocean Limitations: Recognize the limitations of competing in existing markets (Red Oceans), where growth is limited, and competition is fierce.
3. Visualize the Blue Ocean: Imagine an uncontested market space (Blue Ocean) where you can create and capture new demand, making the competition irrelevant.
Simply by starting to think differently about your current situation, and looking for new and untapped opportunities, you will ignite currents of positive change!
Where are the Blue Oceans all around you waiting to be discovered?