Entrepreneur Buzzword: Blue Ocean Strategy
If you’ve answered, “The competition,” then you’re not alone.
The 2016 NFIB report “Small Business Problems & Priorities” ranked the top 75 problems of small businesses in the U.S. Competition from large businesses was ranked as number 31, after a range of financial, regulatory and tax-related issues.
Source: 2016 NFIB Small Business Problems & Priorities
In addition, competition from Internet businesses was ranked as number 63 and competition from imported products was ranked as number 65.
Clearly, competition is something that keeps entrepreneurs and small business owners up at night.
But what if we told you there’s a way to create your own market — one without any competition at all?
Well, the good news is that there is!
And that requires creating a blue ocean strategy.
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