You may have heard someone speak about a blue ocean business in passing. This is how I heard about it long ago as well. It was not until just a year and a half ago that I started to dig into the concept of “Blue Ocean and Red Ocean” businesses and marketing.
The concept goes like this. There is a very lonely deep blue ocean where very little activity is found. You don’t see a lot of ships out in the deep blue ocean or people. It is wide open to enjoy, but can also be dangerous. Then there is the red ocean. It is shallow clear and tons of people flock to it. Everyone swims there and the competition for just a little place to lay on the beach or swim is down right cut-throat. Yet people still flock to the red ocean because there is a comfort level there. They know what to expect from the read ocean.
So lets now put this into the context of a business. A blue ocean business is an area of opportunity in a down market or where no market exists. You may need to create or develop a market. There is no competition and you are basically blazing your own trail. When others start to see what you are doing and try to get in, there is little success rate for them because they do not know how to make the business grow.
Over time the blue ocean business may turn into a red ocean business. At that time you can sell the business to someone who is interested in a proven business idea. You can then move on to create a new business in the blue ocean. The video above provides more detailed information on what I am doing in the blue ocean concept.