Book Byte #356 "Blue Ocean Strategy" by W. Chan Kim and Renee Mauborgne

How to Create Uncontested Market Space and Make the Competition Irrelevant

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📣 Curious Quotes from the Author

“Stop looking to the competition. Value-innovate and let the competition worry about you.”

“Focus on innovating at value, not positioning against competitors”

“While good strategy content is based on a compelling value proposition for buyers with a robust profit proposition for the organization, sustainable strategy execution is based largely on a motivating-people proposition.”

“Competition is only good up to a point. When supply exceeds demand”

“Value innovation is the cornerstone of blue ocean strategy. We call it value innovation because instead of focusing on beating the competition, you focus on making the competition irrelevant by creating a leap in value for buyers and your company, thereby opening up new and uncontested market space.”

“Value innovation requires companies to orient the whole system toward achieving a leap in value for both buyers and themselves.”

“An Incoherent Strategy When a company’s value curve looks like a bowl of spaghetti—a zigzag with no rhyme or reason, where the offering can be described as “low-high-low-low-high-low-high”—it signals that the company doesn’t have a coherent strategy. Its strategy is likely based on independent substrategies. These may individually make sense and keep the business running and everyone busy, but collectively they do little to distinguish the company from the best competitor or to provide a clear strategic vision. This is often a reflection of an organization with divisional or functional silos.”

“Simply put, there is no substitute for meeting and listening to dissatisfied customers directly.”

📚 Cognition of the Book’s Big Idea

The distinction between blue and red oceans. Successful companies frequently seize new markets with limitless potential rather than vying for scarce market space. They are found by increasing, removing, decreasing, and developing industry elements in a way that reduces expenses and distinguishes your company from the competition. What're you waiting for, then? Set sail and quit swimming with the sharks!

Until Tomorrow,
Jason (Founder Club255)