Chan Kim and Renée Mauborgne of the INSEAD (the European Institute of Business Administration) and first set out in their 2005 book “Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant.” In addition, competition from Internet businesses was ranked as number 63 and competition from imported products was ranked as number 65.Ĭlearly, competition is something that keeps entrepreneurs and small business owners up at night.īut what if we told you there’s a way to create your own market - one without any competition at all?Īnd that requires creating a blue ocean strategy.īlue Ocean Strategy was developed by W. Source: 2016 NFIB Small Business Problems & Priorities Competition from large businesses was ranked as number 31, after a range of financial, regulatory and tax-related issues. The 2016 NFIB report “Small Business Problems & Priorities” ranked the top 75 problems of small businesses in the U.S. If you’ve answered, “The competition,” then you’re not alone. As an entrepreneur, what is your biggest concern when it comes to the marketplace?
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