Here at Simon Associates Management Associates (SAMC), we have had a growing number of inquiries lately about how to do a Blue Ocean Strategy® and why, particularly in these changing times, you should find your own blue ocean – sooner than later.
To explain what a Blue Ocean Strategy is all about and how to apply it to your business, we created this Infographic.
Blue Ocean Strategy: the key to business growth in a new, uncontested market space
Here it is in words, followed by the downloadable SAMC Infographic version:
1. There is solid research suggesting that 85% of Fortune 100 companies have all stalled at some point. Revenue growth just stopped, and while profit margins became the new focus, they were not necessarily sufficient. In fact, only 13% of those stalled businesses regained revenue growth.
With our own SAMC clients, we’ve seen the same thing happening. Pre-2008, most of our clients had stalled. Since 2011, more and more companies are coming to us to help them reignite growth. Where does your company stand?
2. All too often that stalling came from companies trying to compete in the same market they had always competed within. That market, however, might very likely not be growing and the competition might be eating away at what market share they had. What do to when you find yourself swimming in a shrinking market?
3. As Marcel Proust said: “The voyage of discovery begins not with new landscapes, but with seeing with new eyes.” Now is the time to step out of your current business model and strategy and see what is really happening all around you, namely:
- Your customers and their unmet needs
- The myriad of other options they have to solve their problems (vs. your old product or service) with better efficiency and effectiveness
- Nonusers that could use you or help you reinvent your business
- Emerging markets that could leap-frog over you – and maybe put you out of business
- How could a Blue Ocean Strategy process help you? Blue Ocean Strategy is a proven, highly effective, innovative approach that helps you see your business challenge with new eyes through:
- Visual Awakening
- Visual Exploring
- Visual Strategy
- Visual Communications
To realize your own Blue Ocean, you must embrace change
Along the way, you will need to shift your focus, re-think your brand differentiation and re-imagine your business model. The reward? A completely new, previously-unimagined and unexplored market space that brings substantial rewards and exponential business growth.
Learn how Blue Ocean Strategy can open up lucrative new markets for you
Want to learn more? You might take a look at our videos, experience our Blue Ocean Strategy Workshop, or read several case studies in our Stories2Share section of our website.
Contact us: We’re Blue Ocean experts, ready to help
Above all, we’re here to help. Please contact us if you would like to chat further about what a Blue Ocean Strategy is and how we could help you find one for your company.
Enjoy the SAMC Infographic. Share it with your team. Does it cause any new ideas to bubble up? Let us know!
To download a printable version, please click here.