Make the competition irrelevant: BLUE OCEAN STRATEGY by W.C. Kim and R. Mauborgne
By Productivity Game on youtube.com
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Blue Ocean Strategy by authors W Chan Kim and Rene Mille Bornes is a book that teaches readers how to create an uncontested market space. The book explains that if you try to enter an established market like the fast food market with the hopes of outperforming the competition, you are adopting what the authors call a red ocean strategy. To find blue oceans of opportunity, the book suggests adjusting for levers such as eliminating, reducing, raising, and creating. Casella wines is an example of a business that used the blue ocean strategy to create a new category of wine that would become the best-selling wine in Australian and United States history. 5-hour energy is another example of a business that created the new energy drink market of two Allen's bottles and maintained a 93% market share. The core message of the book is to stop focusing on how to beat the competition and start focusing on how to make the competition irrelevant.
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