Blue Ocean in Business

Ever wondered how not to bother about competition in your line of business ? Like literally not having to worry about sharing the market, "your market" with others who provide similar products, services ?
Well there is a way to that point in your business, and it is referred to as blue ocean strategy.

Blue ocean typically refers to an unpolluted, uncontested, uncharted, (I will like to add) unabused market. Like a body of water that is blue just as the sky - inviting, attractive, fascinating.

Opting for a blue ocean approach in business, one will have to redefine the boundaries in the field he plays in, and do business within that new space.

An existing product or service, available to an existing market, is carefully remodeled and redirected to suit and appeal to the needs of another market entirely.

Consequently the previous market still exists, with all the stiff rivalry, daily brainstorming sessions to outperform the competition, and fighting to get a larger share of a shrinking pool of profit. On the other hand, the blue ocean strategist has gone on to attract a new pool of consumers, claiming an unshared profit pool.

Remember the use of unabused in the second paragraph ? Yes, be mindful that blue oceans don't stay blue forever. Soon the sharks will swoop into this blue ocean and leave a bloody trail in its wake. That's how the familiar red oceans come to be.

Pocketfuel ®
Today | Tomorrow | Together

Lending | Advisory | Investment

#UNstranded #pocketfuel #venturecapital #lender #businessadvisory #investor #investing #capitalism #lending #investment #lagosnigeria #lagos #blueocean #blueoceanstrategy