Blue Ocean Strategy & Home Business

What are the implications of the highly popular “Blue Ocean Strategy” and those of us interested in operating a simple home business?

 Quite a lot since BOS is not about any industry or market but about strategy.  While the average person doesn’t have the time and funds to access all the frameworks and tools that are taught by the BOS people, we can learn much by the basic keys.

 Our goal should be to differentiate our products and services at a low enough cost to have little competition (blue ocean).  Yet we jump into situations where we usually sell the same items at the same prices to the same markets.

Under BOS’ Value Innovation, our business strategy should shape the structure of our business.  Specialize in weekend and night services.  Provide direct online help in assembling your products.  What you do that the others don’t opens a new market opportunity.

A leadership strategy that home business people neglect is that the media and innovators generally like “the little guy” who asks for advice or wants to talk about a new service or product.  With today’s social media it is easy to reach a mass market at little cost if you reach out to the connectors and mavens of your community.

Changes in your business strategy will change all aspects of how you relate to your customers.