Startups

Finding the Blue Ocean of Life

Last semester was the first time I read about Blue Ocean Strategy in the Harvard Business Review and it really got me thinking. Was it just applicable to industries and their strategies ? Or could the same be extrapolated to the realms of everyday life?

To those of you, who do not know what Blue Oceans are, here’s a TL;DR : Business universe consists of two distinct kinds of spaces : red and blue oceans. Red Oceans represent all the industries in existence today—the known market space. Companies compete with their rivals to increase market share, in turn cutting profits and resulting into reduced growth rate. Blue Oceans denote all the industries not in existence today—the unknown market space, untainted by competition. In blue oceans, new demand is created rather than fought over. There is ample opportunity for growth that is both profitable and rapid.

Blue-Ocean-Strategy-640x416

Those interested in reading more about how to create Blue Oceans can have a look at this (HBR Article). I found the concepts of Blue and Red Oceans quite similar to what has been defined in Economics as Competition and Monopoly. Peter Thiel talks about this in his book Zero to One

“Creative Monopoly means new products that benefit everybody and sustainable profits for the creator. Competition means no profits for anybody, no meaningful differentiation, and a struggle for survival.”

Well, after reading all these things, I became very intrigued. I wanted to know more and see if I could apply some of these concepts to our day-to-day life. I read a lot. I came across several articles with similar footings.

Here’s what I found :

Current scenario consists of two kinds of people, those who are looking for the “safe” routes and those who are looking for unconventional routes. Usually, everyone around us preaches to take the safe and validated routes. This usually means that you compete your way up the safe path. You accelerate on the freeway, trying to beat others till you finally run out of fuel and have to stop, only to question everything that you have done till now.

“Elite students climb confidently until they reach a level of competition sufficiently intense to beat their dreams out of them” – Peter Thiel

Historically, the people who have been the most “successful” have taken the unconventional path, made the competition irrelevant. But does success simply lie in doing what others aren’t ? Not exactly. According to Thiel, the most contrarian thing of all is not to oppose the crowd but to think for yourself.

So, what do we do ?

Oliver Emberton in his blog post titled “How to find your passion” talks about, well (you guessed it right) several ways to find your passion. He talks about how only a handful people even dare to try something new. Well, here’s our answer, we start looking. Looking for things that interest us, things we are amazing at and new things others usually won’t try. “Starting” is the first step and taking the first step itself improves our odds. Don’t look for formulas, start with basic first principles. In the post, Oliver talks about how we can find our passion by creating something. Then the question arises how should we create something?

Creativity is the process to have original ideas that have value” – Sir Ken Robinson

I believe solving a unique problem is a simple way to create a lot of value and hence be creative. Well, according to all that I have gone through above, one way to have a blue ocean strategy in life is to be an entrepreneur or at least think like one. This way, you solve a unique problem, be creative, find your passion and end up making a space/context of your own. This is my hypothesis and surely you could have other opinions !

My Hypothesis

My Hypothesis

Well, this was one of my first in the series of posts on Startups ! Many more to come 🙂

Advertisements
Standard

8 thoughts on “Finding the Blue Ocean of Life

  1. Moyukh Biswas says:

    This is good 🙂 For one, I learnt something new today. Beautifully summarized, and well written.

    P.S: Your writing style is getting better with each post. Hope to read more from you. Keep writing 🙂

  2. Rachit Srivastava says:

    Indeed true…… but I believe that it’s not always others, but we stop ourselves from experimenting and creating our own niche thus if we could just surprise and satisfy ourselves it would make a difference for sure!!

    • Yes, I agree. More so this is a personal decision whether we decide to take the highway ( which would get us *safely* to the destination for *sure*) or whether we decide to take the *unvalidated* path in the woods which *might* get us to a gold mine

  3. Gautam Raj Jain says:

    Good Review of HBR article. HBR always conceptully define existing reality but sometime generalise too much to fit the framework. How would you classify Google, 3M, facebook, Apple as Red or Blue? Do not forget there are several hundred such companyies, which are constantly creating, inventing, and innovating. There is a lot between ‘yes’ and ‘N0’ and so between Red and Blue.

    • Hi,
      Just to clarify, but this is not exactly a review. More of a cross application !
      Anyways, I would classify Google, Facebook as Blue and Apple as Blue (when Apple II was launched). Now its more in red. And I do believe that the segregation whether a company is in Blue or Red is quite simple. Either you are in competition with some other company or you are in a monopoly. Maybe, you could say that companies like Google which have a lot of things like Android, Search, Ads etc cannot be classified exactly as a monopoly, so in that case you think of the 80-20 rule and determine whether they are a monopoly where they are making the 80% revenue from. In case of Google this is true.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s