Book of the Month: Blue Ocean Strategy by W. Chan Kim
Blue Ocean Strategy by W. Chan Kim is a spectacular business strategy book about creating blue oceans for your business instead of competing in the cut throat competitive red oceans. All businesses have a strategy canvas whether they know it or not. Scoring your factors of competition is crucial in business and the strategy canvas can demonstrate exactly how you measure up to your competition and how you can offer something the competition may not be. Creating a 4 actions framework of what you need to Reduce, Eliminate, Create and Raise in your business to get yourself out of a red ocean and into a blue one. So many tips, tricks and tactics with real world examples in this book that can be applied to any business and industry.
Favorite quote: “Every great strategy has focus, and a company’s strategic profile, or value curve, should clearly show it.”
I would HIGHLY recommend this book to anyone starting their business or has started their business and is feeling like they are swimming in the competitive red ocean and looking to get out!