Once you see the big picture, it’s time for you to imagine where you could be. Identify the hidden constraints that you can turn into opportunities Read next: 5 Compelling Strategy Canvas Examples You Can Learn Fromģ. It reveals how similar yours and your competitors’ strategies look to buyers and customers and why this is driving your industry toward the red ocean. We provide you with a tool that shows the current strategic landscape in one simple picture. Next you need to ask yourself the following question: Do I have one simple picture that everyone can understand and puts everyone on the same page? Having a clear and shared picture of the current strategic landscape is critical. Next, get super clear about the current state of play Read next: Select the Right Strategic Initiatives to Plan Your Company’s Future GrowthĢ. We then show you how to put together the right team that is going to carry out the blue ocean initiative, and how to build their confidence for more effective buy-in. This will help you target the area where you have the most to gain. To help you do this, we introduce the pioneer-migrator-settler map. Select the right scope for your blue ocean initiative and build your people’s confidenceīegin by working out which business, product or service you’re going to tackle. If you want to minimize the randomness and trial and error in creating new market space, follow these five systematic steps so that you maximize the chances of hitting the bulls-eye. But it’s something the entrepreneurial community seems to accept as standard. In almost any other context, that would be a shocking statistic. Ninety percent of businesses fail within ten years.
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