In today’s rapidly changing business landscape, finding new markets and breaking free from the competition are more important than ever. This is where Blue Ocean Strategy comes into play—a methodology designed to help companies escape saturated, competitive markets and create untapped spaces filled with opportunities. As a Blue Ocean Strategist since 2007, I’ve guided companies through this transformative process in over 450 workshops, speeches, and countless client engagements. My award-winning book, On the Brink: A Fresh Lens to Take Your Business to New Heights, contains several case studies that highlight the potential of this strategy to transform businesses and open up new horizons for growth.
Recently, I was invited to Vistage Milwaukee to lead three in-depth, three-hour workshops. I worked with CEOs of large and mid-sized companies and small business owners to help them rethink their market positions and uncover new opportunities. These in-person workshops have been just as energizing for me as for the participants—nothing quite like the live interaction and exchange of ideas to drive the discovery process. I’ve found that, even after many years of conducting virtual sessions, the power of face-to-face engagement still offers invaluable insights that virtual settings can’t quite replicate.
A Challenging Time Searching for Blue Ocean Opportunities
One of the recurring themes that emerged during my workshops with these business leaders is the growing challenge of standing out in a market that has become increasingly commoditized. Many expressed frustrations at being stuck in a “red ocean,” a term used to describe a market where competitors are constantly vying for the same customers with little room for differentiation. Price wars become the norm in such environments, and businesses find themselves in a race to the bottom, sacrificing profitability for survival. In contrast, a “blue ocean” is a market space where competition is irrelevant, and companies can create new demand and make the competition irrelevant. Those who refuse to compete on price serve a shrinking market, often providing services to current, loyal customers.
During our sessions, I introduced them to Blue Ocean Strategy’s central idea: instead of competing within crowded markets, businesses can chart new waters by creating products, services, or offerings that meet unmet needs and reduce or eliminate competition altogether. It’s about innovation and rethinking value propositions. Through a series of exercises, we explored ways to shift their focus from being the best in the existing market to making the competition irrelevant by creating new market spaces.
The Ingenuity of the New Workforce Might be Essential for Growth
Another fascinating theme that emerged was the role of young new hires in the modern workplace. Today’s younger generation of workers enters the job market with unique skills, particularly in an increasingly digitized and automated world. They are well-versed in the use of technology and come equipped with an intuitive understanding of the machines and systems that are rapidly transforming industries. Their potential to drive innovation is immense, and it’s inspiring to see how businesses can harness their ingenuity to create new business opportunities.
Realizing this potential in their new hires and even in their interns presents a significant opportunity for businesses to bridge the gap between technological proficiency and strategic thinking. I encouraged workshop participants to think about how they could harness the ingenuity of their younger workforce to innovate and create new business opportunities. By empowering these employees and fostering a culture of innovation, businesses can build on their technological edge and discover new ways to serve their customers.
The Demanding Consumer Wants Speed, Ease, and Low Cost Solutions
Consumer expectations have changed dramatically over the past few years, and this shift was another hot topic in the workshops. Today’s customers expect everything to be faster, easier, and cheaper—and they expect it now. In this age of instant gratification, businesses need to be nimble and agile, adapting quickly to meet these demands while maintaining the quality of their offerings. It’s crucial for businesses to be attentive to these changes and responsive in their strategies.
Through Blue Ocean Strategy, I showed the attendees how they could meet these evolving demands and exceed them by offering something truly unique and valuable. In many cases, the key lies in delivering products or services more efficiently and thoroughly rethinking value delivery. By adopting a Blue Ocean mindset, businesses can reimagine their offerings, potentially uncovering new customer segments or markets their competitors aren’t serving.
Some of the discussion focused on one attendee’s customers searching for alternative solutions to those he offered without asking if he could accommodate them. Another spoke about how clients came to them late with an urgency that required them to expedite solutions, often without the resources to accommodate them. A third was moving his sales and lead generation to his website to provide more DIY solutions, as customers wanted speed, ease, and lower prices.
Capitalizing on the Fourth Industrial Revolution
We also discussed the larger context in which all these changes are happening: the Fourth Industrial Revolution. The convergence of digital, physical, and biological systems is reshaping industries at an unprecedented pace. Automation, artificial intelligence, and data analytics are driving this transformation, and companies that want to sustain their growth need to figure out how to capitalize on these advancements. For instance, a manufacturing company can use automation to streamline its production process, a retail business can leverage data analytics to personalize customer experiences, and a healthcare provider can incorporate AI for more accurate diagnoses.
A key message I shared with participants is to stop competing in their existing markets and start collaborating. The days of siloed thinking are over, and the most successful companies look outside their industries for inspiration and partnership opportunities. By collaborating with organizations from different sectors, businesses can create new value and open up blue oceans of untapped potential. Vistage is an excellent organization for companies to learn from each other and search across industries for fresh ideas and new operational methodologies.
Read about a Blue Ocean Strategy Case:
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Conclusion: Stop Competing, Start Innovating, Blue Ocean Style
The workshops I conducted for Vistage Milwaukee were not only a chance for me to share insights from over a decade of applying the Blue Ocean Strategy but also an opportunity for business leaders to break free from the limiting mindset of competition. In a world that’s evolving faster than ever, the ability to innovate, collaborate, and reimagine one’s business is no longer optional—it’s a necessity.
These workshops reaffirmed for me the immense value of the Blue Ocean approach, particularly in times of rapid change and uncertainty. For the businesses that embrace it, the future is full of promise as they position themselves to thrive in markets of their creation. Through creativity, collaboration, and an openness to change, these leaders are well on their way to discovering new horizons for growth and success.
If you think you are ready to search for your Blue Ocean, give us a call and see how we can help you “see, feel, and think” in new ways. Let’s make the competition irrelevant and create new markets.
Reach us at info@simonassociates.net or contact us here.
From Observation to Innovation,
CEO | Corporate Anthropologist | Author
Simonassociates.net
Info@simonassociates.net
@simonandi
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