Why you shouldn't worry about the competition
Let’s chat about the Blue Ocean Strategy and why it’s a powerful approach to help you create (+ stay) in your lane.
It’s time to forget about the competition, my friend!
Aaah Comparisonitis.
It’s all too easy to compare yourself to others, isn’t it?
— The person who started their business at the same time as you… but has “already” exploded with success.
— The entrepreneur who seems to have it all together… whilst running a side hustle + eating organic + exercising perfectly.
— The business owner who has a more awesome website than you… aaand whose client calendar is filled to bursting.
I could go on…
But where does all that comparison get you?
Feeling frustrated, inwardly-focused, alone + annoyed that you aren’t moving ahead faster. That you aren’t improving quickly enough. And that you aren’t reaching your financial goals right this very moment.
“So how do you stand out from the crowd? Yet still do things your way (aka authentically)?”
The solution is quite simple really.
You say no to comparison and competition… by making the “competition” irrelevant.
You pursue different and do business your OWN way.
You create what Chan Kim and Renée Mauborgne call your very own blue ocean.
So what is the Blue Ocean Strategy and why is this approach so powerful?
“The best way to beat the competition is to stop TRYING to beat the competition.”
Let’s start with the opposite (aka the norm) first. A red ocean is jam-packed with all of the companies that already exist in a particular industry (e.g. all the health coaches within the health + wellness industry). It’s called a “red” ocean because it’s metaphorically bloody with cut-throat competition. And as competition continues to increase, the opportunities for profit and growth decline.
In comparison, a blue ocean is wide + open because it’s about the companies and industries that don’t exist yet. You can sail along and not worry about the competition because the competition doesn’t exist. In a nutshell, blue oceans have plenty of opportunity for profitable (+ fast) growth.
Blue Ocean Strategy creators Chan Kim and Renée Mauborgne found that businesses tend to engage in head-to-head competition (aka red oceans). But, through a decade-long study, they found that lasting success comes from creating blue oceans that are untainted and unexplored.
Which makes sense, right? New market = lots of opportunity for growth.
And yes, this approach isn’t for the faint-hearted. It’s hard work to stick to your plan, ditch the shoulds + ignore what everyone else in your industry is doing. It takes strength to stick to what you’re good at and not get distracted by shiny objects as “competitors” jump on new trends. But the results are worth it!
This (blue ocean) approach is powerful because instead of fighting a losing battle, you take a side-step and carve out your own niche. You create your own ocean (space in the market), and you get to enjoy sailing across open waters. Unexplored land ahoy!
Finding your blue ocean
It’s easy to fall back on the oh-but-I’ve-always-done-things-this-way-that’s-just-the-way-it-is thinking. But that only keeps you firmly in red ocean territory.
To find that blue ocean, you have to rethink what’s typical for your particular industry. You have to think outside the box of what’s expected.
Here’s four areas Chan Kim and Renée Mauborgne suggest you focus on (called the “Four Actions Framework”) as you craft your blue ocean:
1. Raise
What factors can be raised well above your industry’s standard? (i.e. how can you increase or innovate the value you provide?)
2. Eliminate
Which factors should be eliminated that your industry has long competed on? (i.e. is there a typical process that’s followed, or things that are included that don’t need to be?)
3. Reduce
Which factors should be reduced well below industry standard? (i.e. price is the most obvious factor here, but what others can you adjust?)
4. Create
Which factors can be created that the industry has never offered? (i.e. what doesn’t exist yet, but would be cool if it did? Remember to look OUTSIDE of your industry - that’s where inspiration lies.)
“If you want to create a blue ocean, you can’t look at what people are doing in your competitive set. You need to look outside to understand how to shift what you do.”
Now, Let’s look at Cirque du Soleil as an example for how to create a blue ocean (a popular case study from the book).
Instead of directly competing with others in their industry, Cirque du Soleil completely reinvented the circus.
They decided to target people who traditionally didn’t attend the circus - adults + corporate clients who preferred the theatre, opera and ballet, rather than show ponies and clowns - and found a completely new market. Cirque du Soleil created an entertainment experience that had never been seen before.
And because of the type of clients they targeted, it also meant that Cirque du Soleil could charge much more for their product than the traditional circus. New market. New profit opportunities. (#winwin)
How to create a Blue Ocean Strategy canvas for yourself.
I first completed this Blue Ocean Strategy canvas activity when I joined Marie Forleo’s B-School back in 2014. The canvas is a visual way to compare what you’re doing to what your “competitors” are doing (i.e. see how you currently fit into the bigger landscape). This simple activity also allows you to clearly see ways that you can differentiate yourself from the status quo.
Here’s how it works:
Get clear on what you value/offer/prioritise
Brainstorm what you think/know “competitors” value/offer/prioritise
Visually plot the two against each other
This is what this looks like for Cirque du Soleil:
Your goal when completing your strategy canvas is to see what the base line looks like - because only then can you see where to adjust + tweak + innovate. (Otherwise, you’re flying blind.)
Want to dig deeper?
— The Blue Ocean Strategy website has tonnes of resources and examples right here.
— Marie Forleo has an inspiring interview with Blue Ocean Strategy co-creator, Renée Mauborgne, on MarieTV.
A little (Content Her Way related) note
Yes, your Blue Ocean Strategy is about being different, but it’s also about doing what works for you. There’s no point in adding factors to your ocean if it makes you hate your life.
Look at what’s worked for you in the past, amplify those things + then make adjustments as it makes sense for you.
“The most powerful marketing (or communication) strategy for YOU is to do more of what already works. ”
(Check out this gem of a post from Marie Forleo. An oldie but a goodie!)
Ok. So you’re frolicking happily in your blue ocean... But what about those times when you still get stuck in comparison?
(Because, you know, you’re human.)
We’ll wrap this (blue ocean) party up with a list of 22 things (right below) for those moments, hours, days (heck, even weeks!) when comparison has you in its grasp + you need a little something to shake up your mood.
The items on this list are simple, and that’s the purpose. Because the goal is to get you moving (slow progress counts) and ticking off some small wins (they count too) as you move closer towards creating your blue ocean.
Feel free to pick + choose what best suits you! And come back to this list whenever you need it.
22 things to do instead of comparing yourself to “that entrepreneur”
(you know the one)
Turn everything off. That includes social media, email and the internet in general. (Dramatically slam your laptop closed + flounce out of your office if that helps to set the right tone.)
Go for a walk.
Reach out to three people just to say “hi”.
Have a five-minute dance party.
Write down 10 things you’re grateful for.
Genuinely compliment the person that you’re comparing yourself to. (Bonus points if you actually reach out + tell them!)
Message past clients and see how they’re going. (No strings attached.)
Reach out to potential clients and ask how you can help.
Gather or update your testimonials.
Start a “love” folder with screenshots of all the nice things people have said about you + your work.
Read through your “love” folder.
Make a healthy meal.
Then bake brownies.
Channel your inner Elizabeth Bennet and declare: “There is a stubbornness about me that never can bear to be frightened at the will of others. My courage always rises at every attempt to intimidate me.” Say it out loud + with feeling for extra effect.
Write a letter or card to a friend. Then post it.
Call a biz buddy or schedule a coffee chat.
Create something – a blog post, an Instagram post, a letter to your community, a piece of art – and share it just because.
Then create something and keep it just for you.
Write down five things that you’ve achieved this week (getting dressed + doing your hair totally counts).
Send a little gift or free access pass to a long-time community member or client. Or to someone who always comments shares on your posts and shares them.
Declutter (your office, bedroom, desktop, house, whatever).
Ok, so I know you totally just read through that list 😉 Perhaps even thought: “hmmm that’s a good idea!”
Now I invite you to pick at least ONE activity above and go do it. Right now. (And if you really can’t work on it right now, schedule it.) I’m serious.
Then, for extra accountability, DM me on Instagram when you’re done. (And feel free to share your Blue Ocean Strategy too!)
And perhaps most importantly, have fun whilst you create (+ stay) in your lane.
It’s time to forget about the competition, my friend!
Want to add more simplicity and fun to your business by doing content your way? Check out my planners and workbooks and say hello to content that’s simple, fun and actually does something for you.