Blue Ocean Strategy®: The key to successful growth in uncontested markets
We recently presented a workshop on “Change Matters: How to Find New Market Space” at a Vistage group. The Chair introduced us by noting how someone in one of his other groups had taken our workshop last year and had had one of those “aha” moments, when a big new idea popped into his head. It was a Blue Ocean moment. Where those unmet needs and new, nonusers are all around you. But, you just don't see them.
The visual exploring exercise we had led, where we Reverse Everything, opened his mind up to what he had walked away from. He had literally been rejecting an area of business because of the way he had defined his business—a “that’s not our business” problem. By defining success in just one way, he had not been able to “see, feel and think” about potential opportunities in new ways.
In your own discovery phase of Blue Ocean Strategy®, that “it’s not our business” problem might be the next challenge facing you if you are going to push into new markets where often, those new opportunities are waiting for you.