How To Differentiate Your Business With BLUE OCEAN STRATEGY - Book Summary #3

Let's take a look at BLUE OCEAN STRATEGY by W. Chan Kim and Renée Mauborgne. This book is for entrepreneurs, founders, marketers, or managers that are interested in marketing strategy. It's especially relevant for businesses that need to differentiate themselves within a highly competitive industry.
We'll go through a quick book summary covering three key insights from BLUE OCEAN STRATEGY to help you decide if this is the right book for you. And if you enjoy this book you may also want to check out BLUE OCEAN SHIFT in the future!
CLICK HERE FOR THE FULL ARTICLE, BOOK LINKS, AND MORE:
🌎 rickkettner.com/blue-ocean-strategy-book-summary/
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Have a great business or marketing book to recommend for a future video summary? Please mention it in the comments section below the video.
Video Chapters:
0:00 - Introduction to Blue Ocean Strategy
1:05 - Insight #1 - Escape The Bloody Red Ocean Of Competition
6:30 - Insight #2 - Reconstruct Buyer Value With The Strategy Canvas
11:45 - Insight #3 - Attract Non-Customers To Expand Your Blue Ocean
17:05 - Closing Thoughts on Blue Ocean Strategy
Content by Rick Kettner
Produced by Kyle Trienke

[@RickKettner]

Do you have a favorite business or marketing book that you'd like me to cover in the future?

[@GenesisAyerite]

Building a story brand

[@RickKettner]

That's a great book! I've got a video here on the channel that covers my favorite insights from it.

[@KingZee1]

Rich Dad Poor Dad

[@RickKettner]

@@KingZee1 - I read it years ago, but it's been a very long time. I might have to revisit it sometime.

[@Ap00rvMuzic]

Innovator's Dilemma by Clayton Christensen

[@gyanusharmapokhrel4909]

Love the explanation.. Crystal clear with the examples. Thank you..

[@pakomoshaga8278]

Excellent summary. I'm currently looking into setting up a Business Development consultancy. Your practical approach is priceless.

[@achillekemayo]

Thank you so much . Just subscribed. It resonates with me your examples

[@worthyof]

Great content! I love the graphs, the personal anecdotes and quality of the video. 🙌 Please do one for ready, fire, aim

[@RickKettner]

Thank you for the kind words and the recommendation. I've seen that book before, but haven't yet read it. Will add it to the list!

[@stephanwinter2129]

Thankyou Rick, I think you do a very good job at book summaries. I just found you today, and watched already 3 book summaries.

[@RickKettner]

I’m glad you find them helpful!

[@GenesisAyerite]

So insightful. Thank you

[@RickKettner]

Glad it was helpful!

[@nocheblancamusic]

This is an amazing star before reading the actual book! Thanks a million.

[@RickKettner]

It's a great book and I highly recommend it!

[@kalirally]

Excellent summary!

[@peterbahi0227]

I really appreciate this video! 🙏

[@Therongunner]

I'm currently basing my small business this strategy. I'm applying as my core competitive advantage. Being from a developing country there plenty uncontested markets.

[@MASTERMINDSPH]

great content. i am currently reviewing for my grad school exams and your video really helps. more power!

[@RickKettner]

Glad the video helped!

[@thoquynguyen8733]

Wow wonderful content Rick! You deserve so many more subcribers! Keep doing the great work man!

[@RickKettner]

Appreciate the support and encouragement :).

[@user-cc9kr9xq9k]

Thanks for a great summary!

[@RickKettner]

I'm glad it was helpful!

[@paschalmbaka5662]

This really helped, thanks a lot

[@RickKettner]

Glad it helped!

[@user-ir4io7ou6d]

wow.. rick.... this has been so informative

[@uttamyamgar1766]

Hey Rick, that's really interesting input you have shared, thanks. Strategy is one of my favourite topics where there immense to talk and learn about. From the inputs of the Blue ocean strategy I would personally feel to use the strategies for individual completion and growth, as there is a huge competition where you too need to stand out way beyond to be the best. I hope this book will be helpful to apply on individual competition as well. Recommend with your views or biol with tools and techniques for self tracking and growth. Regards Uttaam N Yamgar

[@RickKettner]

Glad you enjoyed the video, it's a great book!

[@Jappon]

Looking at this graph strategy, it really helps to get a visual sense of how you plan to separate yourself from others. Easy way to share the company vision also. Thanks for another big drop in information!

[@RickKettner]

Yeah, the Strategy Canvas is a really simple yet powerful tool for visualizing the competition and crafting your own strategy!

[@Jappon]

@@RickKettner Love it, Would you say this book is more geared towards someone already having an established business, or for someone just starting out?

[@RickKettner]

@@Jappon - I think it fits both situations. If you're entering a competitive market, you'll want to find ways to stand out and if you're in a competitive market you'll want to find ways to separate yourself from the competition. In either case, it's all about creating a blue ocean of new opportunity.

[@Jappon]

​@@RickKettner Make's sense, thanks!

[@amirbeshara2430]

Excellent video 👍👍

[@marventurestv249]

Great content. New learnings.

[@RickKettner]

Glad you found it helpful!

[@bhapapathvisutvatanasak9329]

Thank you!

[@RainfallSymphony]

Love the blue ocean strategy

[@Mrconcretecoatings]

Excellent !

[@klinglerinsurance]

Great content. I’m in the middle of reading this book now and think you nailed the content!

[@RickKettner]

It's a great book!

[@Opochtli]

Great vid!

[@abdulwadud7949]

Fantastic

[@RickKettner]

Glad you enjoyed it!

[@AwaisPirzada34]

First, it can be difficult to identify uncontested market spaces. Second, even if an uncontested market space is found, it may be short-lived if other companies enter the market. Finally, pursuing a blue ocean strategy requires significant resources and investment, which may not be feasible for all businesses.

[@motorkidd6587]

That’s not necessarily true

[@Dreamingofyou317]

Bullshit

[@blbreptiles4126]

Bruh... read the book

[@kevinhill135]

Excellent video.

[@max12244]

Hey, I just discovered your channel. Good content !

[@RickKettner]

Welcome to the community! :)

[@jonneye]

Great channel.

[@RickKettner]

Glad you enjoy it!

[@Hameedhudeen]

That's a very nice summary of the book. Can you please create a summary of Beyond Disruption, by the same authors?

[@mattfernandez3641]

Great content, I usually read the reviews from Amazon before buying, but now I’ll just watch your videos. You should put a link in your description below for us to buy these books. Makes it easier for us, or maybe just me. In the future, can you do a cover for one of Seth Godin’s books. Thanks.

[@RickKettner]

Ahh, great suggestion. I'll add those links right away. Interested in any one of Seth Godin's books in particular? Have one idea for a video coming up based on a great concept from "This Is Marketing", but would be happy to dive into another as well!

[@mattfernandez3641]

Rick Kettner I was thinking exactly that in particular. I was about to buy that book on Amazon, but couple of the reviews were discouraging. I haven’t read any of his book, but I need to read atleast one book from him. I’ll look forward for your next cover.

[@RickKettner]

@@mattfernandez3641 - I enjoyed This Is Marketing, but I can see how it might be considered less actionable than some other books out there. My biggest takeaways were centered around the idea of starting small and "building a movement". Some similarities between it and Crossing The Chasm by Geoffrey Moore. Are you needing to read one of his books for work or school? Or just curious to read one of his books as they are quite popular?

[@mattfernandez3641]

Actually. I wanted to open a food service business early next year. On the meantime, I wanted to fulfill and max out my marketing knowledge that would fit in my business. For many many years I owned and ran a trucking companies, as technology got better, it became a red ocean. You actually gave me the idea to read blue ocean from your list of top marketing book fromJan. Thanks to you.. I sold my ownership before the lockdown and created a blue Ocean business concept. Best decision I’ve done.

[@RickKettner]

@@mattfernandez3641 - Ahh, glad you got value from Blue Ocean Strategy! Any chance you've read The 22 Immutable Laws of Marketing by Al Reis and Jack Trout? I think you'd find it helpful, but you may want to wait for my upcoming video covering three of my favorite insights from it. That video will likely be published this coming Friday, June 12th.

[@unclejuju12]

Never knew you were behind drumeo. Thought it was just Jared the entire time. Thats amazing

[@AwaisPirzada34]

My question is what can a startup founder learn from this, how can they apply this strategy?

[@aliib116]

I'm a big fan of what you provide in this Chanel, you're very pro, by the way I'm studying business, and I really need you advice by giving me a strategy which includes obvious steps to improve my knowledge. it will be great if you respond to me asap.

[@RickKettner]

Thanks, I'm glad you are enjoying the content. What are you most interested in learning about business?

[@user-ir4io7ou6d]

have now learnt not to chase the same pie and yet the there is a bigger untapped pie out there that can potentially onboard my product

[@fredrickegondi6723]

What are some of the management issues in the book?

[@philanlabrada9939]

Value Innovation technology innovation.

[@spruceguitar]

I go often in exactly the kind of cinema depicted at min 10. Mercedes-Benz like seats etc. the food is out of this world. I love going there. Except it is the only cinema where I am the only one in. Sometimes 2-3 other people. Often just playing for myself. I think that business owner stumbled over this book. Except that has not worked out.

[@maryokbahsyokgouokbah99]

2.28

[@Everest900]

Please share me ideas help to grow my initial architecture firm business in Nepal market .

[@RickKettner]

What is your biggest challenge with the business?

[@Everest900]

@@RickKettner Initially people travel many Engineering Consult firm taking as free consultancy. Later they dont back on . So with few honest tricks ideas too its been hard. So need to sell up taling services at one hand needy who visit us. So any tips u can know me

[@RickKettner]

@@Everest900 I would start by studying where your best clients have come from in the past.. How do they typically find you and what can you do to increase the odds of attracting more just like them? For example, if word of mouth referral has been key, books like Contagious and Marketing Made Simple can help increase the odds that people talk about your business.

[@mariateresalanger6248]

what about chicken roast business..

[@RickKettner]

What about a chicken roast business? :)

[@a.bismail6492]

@@RickKettner 😂😂😂

[@Jzguan]

Alex hormozi bookplzzzz

[@aqin713]

What about a piece of construction equipment that’s so unique that saves $$ & time and nobody knows about it😁

[@RickKettner]

Sounds promising, but of course there are many factors that are critical to making a product successful including customer desire, the ability to cost-effectively sell it, demand, etc. A great place to start may be The Lean Startup, to find an inexpensive way to validate that customers truly want it AND are willing to pay a profitable price for it at a high enough volume to make the venture worthwhile.

[@Potencyfunction]

🤣 It is secret if its about time and money and it is not known by others. The strategy is is for competitive business but there is SMART busniess tool that help you understand wasting time for archivng ....a shit, bad fame, and once you step on someones life be sure that you will be remembered so no one can make busniess with6 you shit products .

[@AwaisPirzada34]

Please make a video on behavioral change books from business perspective like design thinking, BJ Fogg's books etc

[@doug2731]

AH-dults

[@yrgawutilahun1467]

I ask you 4hour in weak

[@genckanPOKER]

SEED'den gelenler burda mı

[@helpinghand4839]

Don’t start your video with subscription. Big put off

[@leerob7738]

Stop crying, go somewhere else then.