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Has Your Niche Or Industry Gone Red Ocean?
For those of you who don’t understand the meaning of red ocean vs blue ocean it was a terminology made famous by the book Blue Ocean published in 2005 which was written by W. Chan Kim and Renée Mauborgne. With the Wikipedia definition being:
Based on a study of 150 strategic moves spanning more than a hundred years and thirty industries, Kim & Mauborgne argue that companies can succeed by creating “blue oceans” of uncontested market space, as opposed to “red oceans” where competitors fight for dominance, the analogy being that an ocean full of vicious competition turns red with blood.
With more and more people moving into the online world, sharing their knowledge, expertise and passions with the world, many industries and niche markets have become very red ocean including my own.
In today’s video I talk about how you can overcome a red ocean situation, stop competing on price and find a new sub, sub niche to once again operate in a profitable blue ocean environment.
This video is taken from my brand new book Elite Woman.
You can grab a copy of my book ALL Australian book sale proceeds in October, are being donated to the McGrath Foundation to support women diagnosed with Breast Cancer get the nurses and support they need to get better and live their best life too.