Implement Your Blue Ocean Strategy

When it comes to success, it is usually hard to define wich path to take if we want to bring our organizations to success faster. We typically need to innovate to discover new market space so we can navigate on a low competition ocean and achieve more success. In this Blue Ocean Strategy Summary, I'll bring the basics of creating and implementing this Blue ocean strategy in your organization.

BLUE OCEAN EQUAL INNOVATION, CREATE YOUR SUCCESS

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If we take Tesla Motors for example, by designing the Model S, they created an all new market space to fit in and actually have no competition in their market. If we draw the Model S strategic canvas, we will notice that the Model S has its own strategic aspects and so it does not compete with other electric cars on the market and it created its own new market space made of new potential buyers.

Traditionnal Electric Cars:

• Price range from $30 000 to $50 000
• Range goes from 60 miles to 150 miles per charge
• Average size car
• Average performance
• Sold through traditional dealership

Tesla Model S:

• Price range from $75 000 to $140 000
• Range goes from 200 to 300 miles per charge
• Full-size luxury car
• ''Insane'' performance
• Sold directly to buyers

This is exactly how Elon Musk created its blue ocean to sail on and achieve great success with Tesla. One of the great things with Blue Ocean is that it creates opportunities and paradigm shift through buyers and through the population. This can create, in fact, new types of businesses where we can literally innovate out of our actual problems. By achieving so, Elon Musk gave us the opportunity to change our paradigms about electric cars and gives a future to it while giving a future zero emission vehicles.

BLUE OCEAN VS RED OCEAN

The Red Ocean Market space is, in fact, the traditional way of thinking to make business, where we live in terms of risk management and on competition.

A Blue Ocean is a completely new market space with new buyers and new opportunities. It is the world where businesses and leaders work in terms of market boundaries and beyond existing demand.

THE SEQUENCE

1. To implement the strategy, you must first think of the buyer utility instead of actual buyers. Is there an incredible buyer utility in your product or idea?
2. Your price must target directly your mass of buyers.
3. You must innovate and create a new business structure to support profitability while aiming at your target price.
4. Create a strategy to overcome adoption hurdles

When applying thoroughly that sequence, you will be able to validate the potential viability of a potentially new blue ocean market. This sequence is the backbone of the Blue Ocean Strategy and it is vital that you go through all of these the mos honestly and objectively as possible. If your not sure that you have all the answers for one of these steps, rethink it before you go to the next one.

CREATE YOUR OWN BLUE OCEAN STRATEGY

Our actual world needs more of blue ocean sailors, whatever you are a manager, a leader or a new entrepreneur, creating your blue ocean will help you become a better achiever and create a better world for our children at the same time. I strongly recommend you read that book in order to fully understand the strategy and how to implement it, you can find it on AMAZON and get through it. The world needs more leaders like you!

Please leave a comment below, I'll be happy discuss that subject wth you!

Max