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The tag line of this book says it all; How to Create Uncontested Market Space and Make the Competition Irrelevant.

This book talks about using innovation rather than aggression to compete in the market place. It is full of fresh and interesting ways to look at your business strategy.

Many small business owners shy away from competition, this book encourages you to think a little outside the box in your approach to building the business.

Let me briefly explain the Blue Ocean Strategy:

When business owners are looking for customers they tend to compete in the familiar market. When times are tough or as the number of competitors grow the business owners’ compete harder against each other for a share of the market. If you use the analogy of sharks fighting over the same fish, the surrounding ocean is soon red with blood.

Now if the sharks were to move away from that section of ocean where the fish are few and the competition is fierce, they would soon enter a fresh patch of Blue Ocean that is filled with lots of fish and little to no competition.

Like the shark, the business owner can leave the highly competitive pool and create their own patch of Blue Ocean.

I’m sure you’re like me and thinking ‘that sounds great, but easier said than done’. The authors have also taken this into account, the book gives you lots of information based on years of research.

Blue Ocean Strategy also give great examples of how a business can find their own blue ocean. The best example is the amazing Cirque du Soleil. In the times of Ringling and Barnum & Bailey the animal filled circuses were struggling and competing heavily with each other. Cirque du Soleil completely turned around the customer experience of circus by combining it with theatre and removing the animals. It was uncharted waters and was an enormous hit.

The keys to building a Blue Ocean Strategy are outlined in the book along with frameworks and other guidelines to change the mindset from fierce competition to expansion and innovation that gives great value to the customer.

The main take away from this book is how to change your mindset and view the much bigger picture when you are facing challenging times as most businesses owners do at some point.

Not only is this book an interesting read, it a valuable tool for business owners who would like to grow their business.

 

 

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