A detailed strategy is one thing. Putting it into practice is another. Often harder. And when it comes to a blue ocean strategy, this is doubly true. It's a lot of sweat. But the results you can get with it... It's definitely worth the work. What are the most common obstacles you might face when implementing a blue ocean strategy in your company?
Further in the article:
Moving a company towards a workable blue ocean strategy is no easy task. Expect a few sticks to be thrown your way now and then. Whether intentionally or "unintentionally". But a true innovator will not be afraid of them and will plan how to jump over all obstacles with ease.
Okay, maybe it doesn't always come that easy. But you'll see that you'll get over it eventually.
What are the four hurdles on your way to the blue ocean?
Step out of the rut
Everything has worked so far, so why change anything in the company? It will take a lot of time to reconfigure or at least shift the mind-set and thinking of your leaders. But know that this is the first and most important step. Without it, you'll get nowhere in the company and have nothing to build on.
When you want to move from a relatively functional business model - at least in the opinion of others in the company - to an innovative strategy, it can be hard to convince many people. People like to be used to something, and thinking outside the box is a challenge. But that's exactly what you'll require from managers or leaders. They should be as creative as possible. The solution is to communicate the vision, the benefits of the Blue Ocean strategy and explain, explain, explain.
Prepare for investment
While Blue Ocean's strategy is focused on creating new opportunities, they will not be profitable right away. Every company has to invest at the beginning - finance, time and its own know- how. The returns will be small for a while, and you won't be able to accurately plan for them, butif you really discover a hole in the market and invent something new, success will come. You'll see it not only in the KPIs met, but also in profits and margins.
Think about how to allocate resources effectively in your company, how to reduce costs but not quality, and where to innovate to make your strategy sustainable and last as long as it needs to.
Motivate employees
I've said it over and over again - without enthusiastic or at least motivated employees, you won't get anywhere. Their cooperation and hard work is key. Start building motivation from the very , talk to your employees about what you're up to in the company and why you've decided to do so. Show them that while their roles are changing, they are part of something bigger.
I mean... who wouldn't want that? And who wouldn't want a reward now and then...? I wrote about how to engage employees recently.
Convince the entire management
"In our company, they'll shoot you down before you can anything." Unfortunately, I hear that more often than I'd like. And unfortunately, it indicates a problem that starts at the top level. As CEO or owner, you are the main driver of innovation - your team is waiting for your signal. If you're afraid of change, guarding the status quo or lacking vision, it's hard for others be any different.
My advice? Go for it. Be the unifier. And feel free to start from the top. Clearly communicate the vision and benefits that a blue ocean strategy will bring not only to the company, but to the board and stakeholders. Engage the entire C-level management, show them what they can gain. Without these people, it's hard to carry the enthusiasm forward.
The door is open
If your business overcomes all four hurdles, you will open the door to untapped opportunities and growth in new markets. It'll be hard work, but it will happen. Trust . If need a partner to help you through each hurdle, let me know.