Mike Rothenberg encourages entrepreneurs to avoid “red oceans,” a business-strategy term for cutthroat markets where competitors struggle for incremental gains. The CEO of Rothenberg Ventures says entrepreneurs should instead swim toward blue oceans, rivers and ponds, while developing the instincts to discover these emerging, wide-open markets.
The process of visioning may seem both daunting and mysterious. Indeed, it is in no way a straightforward method and there are always rocky rapids to navigate. An understanding of the make-up of this journey will create better results for this process to be a success.
Where do you start when you want something new? Whether the aim is just an improvement, a small incremental change or something more unique, disruptive and breakthrough, the start will probably determine where you end up. Do you start jotting down ideas? Do you grab a whiteboard and Post-Its, get a few people in the room, and start brainstorming?
Innovation is often regarded as a journey of discovery. Small steps or large, its purpose is locating and conquering new innovation territory. When incremental explorations are not enough though, it might be time to sail off the map. In this article, Gijs van Wulfen takes a look at Christopher Columbus’ example, and how urgency, courage, new technology, teamwork and perseverance can help corporate explorers reach the New Found Land.