In previous articles we’ve discussed the advantage of finding your own unique space in the market, which makes it easier for you to become “known” and build your following. Today I would like to share insights from another of my favorite business books on this topic – it is called “Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant”. The idea of the book is that red oceans represent all the industries in existence today, and blue oceans denote all the industries that currently do not exist. Most companies operate only in red oceans and do not know how to find blue oceans. They simply try to outperform their rivals. As it gets crowded, profits and growth are reduced.
Blue Oceans are defined by untapped market space, demand creation, and opportunity for profitable growth. Competition is irrelevant because the rules of the game are yet to be set. Characteristics of blue oceans include:
- They define new markets
- They create a leap in value
- They are the result of value innovation – when innovation is aligned with utility and price
- Examples:
- Cirque du Soleil
- iTunes
- iPhone
- Starbucks
So how can you find your own blue ocean? As a spiritual writer, what leaps in value can you potentially offer? Here are some ideas:
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- Insight
- Saying what others are thinking (but no one is saying)
- Dealing with pain
- Incredible writing
- Relatability
- Asking questions that others would ask too
- Edginess
- Talent not contained in a book
Where is your “blue ocean”? Feel free to contact us if you would like to work on this further.
