Blue Ocean Strategy Grow Your Business Without Having To Compete| Eleken

 

Working with something completely new is always thrilling and a little bit scary as you don’t have any guides or templates to help you. You have to experiment and take risks if you want to achieve success.

Introduction

Very often, startup owners who come up with an innovative product don’t know where to start and how to implement all their thoughts into a real product that speaks its value. This case study proves that sometimes a bare idea is not enough to see the growth of your startup. It is very important to implement it  correctly and make the product look valuable for its users. While people tend to think that the  https://www.eleken.co/blog-posts/blue-ocean-strategy-grow-your-business-without-having-to-compete  secret of innovative products lies in a unique idea, the blue ocean strategy guides entrepreneurs on how to turn their ideas into a profitable company.

Tips On Applying The Strategy

To cut the long story short, the blue ocean strategy suggests business owners focus on their idea, perform a blue ocean market research to find something that differentiates the company from other propositions and create a catchy tagline that communicates the product’s value.

Companies That Created An Uncontested Marketplace

Adding something innovative to an already existing industry doesn’t mean you have to develop a completely new product.For example, Netflix is focused on providing great customer service instead of opening DVD stores.Uber didn’t spend money on buying cars to compete with taxi owners. They decided to create an application that would connect drivers and customers in one place.Airbnb didn’t buy houses in different locations, instead, they created an easy-to-use service that unites already existing houses for rent in one place. All the above companies used the blue ocean strategy to create new demand. Read further to learn how they did it and what a successful blue ocean strategy requires.

 

To Sum Up

As you can see from the blue ocean products examples above, these companies didn’t invent new products, they just offered a valuable upgrade of their service and changed their business model. Coming up with the strategy of blue ocean is complicated and risky, but if you manage to create a product/service that clearly communicates its value people will notice you on the market.Read more about the way Uber, Netflix and Airbnb show their value propositions:

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