I'm writing to recommend a book that is well worth reading. It's called BLUE OCEAN STRATEGY by W. Chan Kim and Renee Mauborgne, to professors at France's INSEAD. The basic idea is that the business world is comprised of red oceans and blue oceans. Red Oceans are crowded, hyper-competitive and can only be profitable with relentless cost-cutting and disciplined execution. Blue Oceans have no real competitors and offer enormous growth potential.
One way to get to Blue Oceans is to look at NON-customers and find a way to change your offerings to attract them to become customers...Cirque du Soleil did it by blending the best of the circus with theatre; YellowTail wines attracted non-wine-drinkers to become a leading wine seller in a crowded field, Southwest did it in the airline industry.
Since all Blue Oceans eventually turn Red, it's important to spend a portion of your time continually on the alert for the next blue ocean. Are YOU?
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