Making Competition Irrelevant topic of CF PanWest Network webinar. @Startup-Canada @CFGrandePrairie #frankodea #business
May 12th, 2015
Have you ever noticed that some businesses do very well while many of the others in the same industry are struggling? For example: Walmart is doing well while Kmart, Woolco and Zellers have all gone out of business; In the 80’s, when most of the airlines in the world were being bailed-out through mergers, Southwest Airlines continued to be profitable every quarter; While the circus industry has all but died out, Circle du Soleil continues to flourish… and there are many other examples. The difference is Blue Ocean Strategy and the ability to avoid fighting over the same customers as every other company in your industry. This was the topic of the May 1, 2015, the Community Futures Pan West Network webinar with Frank O'Dea interviewed by Contact Colette Close email@example.com
Frank O’Dea is the celebrated businessman who used this strategy to turn a little dry-goods kiosk into the Second Cup, a national chain of coffee stores; He did it again with the money-losing document shredding industry when he built Proshred Security (now Iron Mountain) into an international business, with operations in Canada, the USA and Europe. He explains how many companies have been using this strategy for years to create new market spaces and make the competition irrelevant. It is a strategy that has been adopted by a wide variety of organizations from Chrysler to Yellow Tail Wine to Samsung and was first documented by two University professors in their book “Blue Ocean Strategy”.
After this interview,attendees were able to view their business in a new light, which allowed them to see how they might make their competition irrelevant.