How to Create Uncontested Market Space and Make Competition Irrelevant
http://informationproductmastery.com
You have probably heard the term "Blue Ocean Strategy" being bandied about, after all the book has sold over 2mill copies which has made it one of the most successful business books ever.
What are the nuts and bolts of Blue Ocean Strategy?
Blue Ocean Strategy is a way of thinking about business and product development strategy. The book "Blue Ocean Strategy" was written by a couple of Harvard University Professors as a result of their research into how high growth businesses approach strategy.
The book is a good read and isn't academic in nature which means that it is easy to understand and you will be able to implement some of the thinking processes straight away.
The following will help you grasp the key fundamentals of the Blue Ocean concept:
• Most businesses operate within an Industry.
• The nature of industries is that all participants have many similarities and compete in similar ways.
• In order to grow you must steal market share from your competitors.
• Increasing market share usually involves lower prices, adding features or spending more on marketing & sales efforts.
• Businesses that have to steal market share to grow are said to be operating in an Ocean Red with the blood of competitive battle.
• On the other hand Blue Ocean businesses are the only swimmers in their ocean which has a complete absence of competitive blood.
I don't know about you but I would prefer to swim in a Blue Ocean any day.
How does this relate to Information Publishing?
Quite simply, most Information Product Publishers are operating in Blue Oceans without realizing it. For example:
• They create new demand by presenting information in a wide variety of formats (video, podcast, webinar) which facilitates a wider audience to access their knowledge
• Ascension product models create new value propositions and empower customers to choose the depth and/or breadth of information purchased
• Web based tools reduce barriers to purchase
Adding an Information Product Publishing element to your business will instantly move you into a Blue Ocean. Do it correctly and you will dramatically improve the revenue and margins you receive from your traditional products and services as well as creating a new and profitable line of revenue from your Information Products.
Client Case Study
Take a minute to check out www.thefamilylawbook.com.au
The Family Law Book is a classic study in Blue Ocean thinking that applies Information Product Publishing techniques to create massive new demand within the legal industry (you can't get much more traditional than that). They have quickly become one of the most successful Information Product Publishers in Australia.
The Family Law Book is membership based and is aimed at lawyers who practice Family Law. The publishers have:
• Created new demand by consolidating the Family Law Act into one volume and provided tools that greatly improve the efficiency of family law practices,
• Multiple membership levels have reduced barriers to entry and provide upsell opportunities,
Information Product Mastery (http://informationproductmastery.com) have been helping Information Product Publishers Like the Family Law Book to produce, market and distribute their knowledge since 2004.