I have been looking at various markets over the last 18 months and for an opportunity to disrupt a large and profitable market by doing things differently and leveraging the power of technology. I have had the opportunity to speak to many disruptive entrepreneurs including on a podcast series I made recently - will put all links at the end.
One methodology I have applied in putting together a plan is Blue Ocean Strategy which has been around for a while since the best-selling book was published (see links below) but you can apply it to an existing business or an idea. You don’t need to be a management consultant or have a big business to apply it.
There are endless videos on YouTube about it and some miss the point complaining that it is hard to find “new markets” – they are wrong - it is more about analysing an existing market or at least a customer segment and working out how to beat the incumbent competition at their own game – often large clunky companies.
RED OCEANS are seas of companies competing for the same customers doing similar things and relying on price or clever adverts (and psychology) to persuade (is your toilet really full of cartoon germs your neighbours might notice)??
BLUE OCEANS are uncontested waters where you design your product or go to market strategy or business in its entirety to make the competition irrelevant.
Read the book and/or watch the videos and go through the process of creating a strategy canvas (to work out where you can differentiate). Work out what you can ELIMINATE, REDUCE, CREATE and RAISE to create sustainable competitive advantage.
Its not just about product either as customers now want to know more about the business. Use that and content to your advantage.
A good Blue Ocean Strategy explanation and case study:
CitizenM in hotels sector:
Book (my Amazon shop): https://www.amazon.com/shop/pierslinney?listId=3M7...
Podcast (not a promo): https://www.natwestbusinesshub.com/content/rethink...