BLUE OCEAN STRATEGY - How Blue Ocean strategy help you win against competition?
We all heard about Blue Ocean Strategy in our marketing and strategy classes, but it become more refine to me when I read:
“The larger the herd, the lower the returns.” — Naval Ravikant
Blue Ocean (More fish, no fisherman, chances are higher)
Red Ocean (Less fish, High number of fishermen, chances are lower)
This phenomenon shows that we should be focused on becoming unique and identifying new ventures where things are not yet explored rather copy-pasting the same method. This rule applies to everything, educations, immigration and business ideas.
“Competition is for losers.” — Peter Theil
“You can’t look at the competition and say you’re going to do it better. You have to look at the competition and say you’re going to do it differently.” — Steve jobs
“The future belongs to a very different kind of person with a very different kind of mind … creators and empathizers, pattern recognizers, and meaning makers.” — Daniel Pink
“When everyone is digging for Gold, sell Shovels.” — Kazzim Nil Daniels
Mental Model - Law of Large Numbers If you run many trials in a simulation or experiment, the empirical probability will get closer and closer to actual or theoretical probability of the event. Consider a coin which is tossed 200 times eventually Head and Tail comes 50% 50% on average.
Whether it’s Amazon FBA, Social Media Accounts Following, Property Investment or the latest Crypto (Altcoins and NFT) mania, all are becoming Red Ocean due to key knowledge or steps freely available.
That’s, why living with the herd mentality reduces your chances of success in the future.
“Whenever you find yourself on the side of the majority, it is time to pause and reflect.” — Mark Twain
“If the path before you is clear, you are probably on someone else’s.” — Carl Jung
To survive in the future world, look for ventures which are unique and unexplored by no one; for that you need to think continuously different and explore based on curiosity.
“Do not go where the path may lead, go instead where there is no path and leave a trail.” — Ralph Waldo Emerson
“If you only read the books that everyone else is reading, you can only think what everyone else is thinking.” — Haruki Murakami
Thanks for reading and before you go…
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