The quote above is a simple idea which could propel your business ahead of your competitors. There is a book, Blue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant by W. Chan Kim and Renee Mauborgne, which explores this idea. Business examples used within the book are Southwest, Cirque du Soleil and many others. The concept is instead of fighting for the same clients as your competitors, you create a business or product which is not found in your market, but which your customers would want or need.
The best time to explore new ideas is when you are away from the everyday running of your business. Take this summer while you are on vacation and give yourself a morning or afternoon to brainstorm. If you are not going away officially, take a day off and unplug to find quiet time for this reflection.
The way that Southwest grew was they sought out the customers who were driving places instead of flying. Then they thought about the reasons that they made this choice, and the answers were the beginning of their business and marketing strategies. Southwest was not fighting over the same market which their competitors were. Instead, they created a new market.
What can you offer which is being missed by your competitors? What would make customers pick you over others? This is the focus which will propel you above the competition because you will be creating a product for your customers which does not exist from anyone else.
If you are a Northwest Chamber Member and want help with developing your Blue Ocean idea, come join one of our Business Roundtables or our Mastermind Program. It is a free benefit of membership, and your peers will guide you through this new idea. Email Kathleen Dorsey for more information about these programs: firstname.lastname@example.org.