Living The Red Life - Find Untapped Markets & Dominate with the Blue Ocean Strategy

Episode Date: December 5, 2024

In this episode, I dive into the concept of the Blue Ocean Strategy and how it can help you stand out in today’s competitive business world. I explore the difference between "blue oceans," which represent untapped, less competitive markets, and "red oceans," the overcrowded spaces where it’s hard to get traction. By looking at examples like Airbnb and Netflix, I show how success often comes from creating something unique rather than competing in saturated markets. Testing ideas and adapting to trends is crucial, and I share how even small pivots can make a big difference in carving out your own space.I also talk about ways to innovate without starting over. Whether it’s rebranding, redesigning how you deliver your product, or even expanding into new markets, there are many ways to stand out. The key is to stay flexible, keep an eye on industry trends, and understand what your audience truly needs. It’s all about finding those fresh opportunities and putting your unique spin on them. If you’re feeling stuck in a crowded space, this episode offers practical ideas to help you move into a blue ocean and set yourself apart.CHAPTER TITLES01:22 - Blue vs. Red Oceans: What They Mean for Business03:03 - Creating Blue Oceans in a Saturated Market04:38 - Pivoting Without Starting Over06:06 - Adapting to Market Trends and Buyer Behavior08:46 - Learning from Big Brand Evolution10:36 - The Power of Strategic Industry Shifts13:04 - Brainstorming Blue Oceans with ChatGPTConnect with Rudy Mawer:LinkedInInstagramFacebookTwitter

When we come to creating that blue ocean strategy, a big big part of it is testing, okay? Sometimes mistakenly, we have this idea, who's going to work, go ahead with it, and we never really stop to look from afar as this is working, we just believe it's going to work and get going. So it's really important when you look at this too, you don't go, you know, hide in a dark room for six months, plan it all and launch it, because there's just no way of knowing. You can do your research, you can pay attention to the industry, but it's kind of like you gotta test it. My name's Rudy Moore, host of Living the Red Life podcast and I'm here to change the way you see your life in your earpiece every single week. If you're ready to start living the red life, ditch the blue pill, take the red pill, join me in Wonderland and change your life.

What's up guys, welcome back to another episode of Living the Red Life. Today we're going to talk about the blue ocean strategy you're missing from your business and look if you know me you know I love red but there's one occasion when I love blue not red and it's when we're talking about market saturation and creating a blue ocean strategy or offer or product in your business. Now the opposite of that is my favourite colour red where you have a bloody ocean strategy or offer or product in your business. Now the opposite of that is my favorite color red, where you have a bloody ocean, right? And what that means is that people are in there and it's very busy and it's messy

and it's hard to stand out and you just can't get traction, which is probably what you feel right now, right? Most businesses, you know, I've worked with thousands of businesses and most of them, they can't stand out, there's lots of competitors, they don't have the USP, and then you see a few businesses that skyrocket and a lot of the time it's because they have this Blue Ocean strategy and Blue Ocean offer and product, right? There's lots of big examples of it. Airbnb, Netflix, Uber. And there's lots of smaller examples too of this Blue Ocean, even in our industry, right?

So, you know, I've worked with Tai Lopez for many years, we kind of a friend, and he, you know, was one of the first marketers in our industry to really kind of get going with the info product education, selfie style ads on YouTube, Facebook, you know, obviously info products have been around for many, many years, but he was one of the first to really crack the social media and ad side of it. And, you know, it was wildly successful because he was in this blue ocean.

Whereas if you launch the same, you know, social media marketing course today, well, you're in a red ocean, a bloody ocean, right? It's super busy, you know, super, super saturated. And there's probably a reason he's not running that same offer at, you know, a hundred grand a day in ad spend these days because it's, you know, now turned

into a bloody red ocean, right? Which is what happens. Every market hits that saturation point. And I find in the internet marketing, social media world, we're in that bloody ocean now, right? The ocean's red and we've been working hard as a company in the last couple of years to create more blue oceans for our own business, right? And if you followed my journey, you know,

I've branched a lot into celebrity marketing and working with celebrities because a lot of them have, it gives me the opportunity to work in lots of different industries and take my skills in marketing and apply them into industries that are less bloody, less red, right? More blue ocean.

And I've had a lot of success with that. I've also expanded into different continents. So, you know, something that we worked on in the last year or so was expanding internationally into South America. And, you know, we've done over a million dollars in that continent, grown our email list to 150,000 people and had very high ROAS ROI versus ad spend because it's more of a blue ocean selling a similar product I sell in the US with way less ROAS, about 300% less ROI selling the exact same product. And you also, if you've been following me, know that I've turned a lot of my attention into TV in the last couple of years.

You know, I filmed an Amazon Prime show last year that aired this summer, and I've also filmed two other shows. One's currently airing and one is in production right now. So, you know, I've kind of switched what I'm doing and part of that's personal growth, development and interest and part of it's intentional with seeing the writing on the wall in the industry. So you need to hopefully kind of look at that in your industry. And if you're in an industry that's heavily saturated, which many are these days in the online space, because the last 10 years, everyone's kind of jumped on the bandwagon, right? Whether you're selling t-shirts, whether you're drop shipping, whether you're a coach or consultant, a course creator, a software, right? Marketing software, everyone has a go high level white label these days. So it's probably affecting most people. And a lot of you don't even realize, right?

It's just this year's been maybe crappy and the last, you know, it was great in COVID and now it's terrible and part of that's the economy, part of it, um, you know, the whole COVID thing, but a big part of it is the last five years, right? Is, is being buyer awareness and, and because of COVID saturation in most industries, so it's so important for you listening today to adopt this Blue Ocean strategy, this Blue Ocean mindset and look at your business and go, how do I pivot a little?

How do I really create something that can stand out? How do I create something that can help me separate myself and give my business and my offers and products and my ads that clear differentiator that clear unique selling point sometimes it's taking your skill set and applying it to a similar product but not the same because the current one's saturated some of the time it's just rebranding and repositioning your product. Sometimes it's a specific delivery system. So you might have a way of delivering your product service or the result you're getting for a client

in a different manner, right? You might turn it into a software instead of an ebook. You might host live events to do it now and no one else in your industry does live events. So there's a lot of options where it doesn't require you to start a brand new business. And that's very important because I don't want you listening to this thing and you've got a blank canvas start all over again. It's not the case.

It's maybe creating a new offer, maybe pivoting the current offer, rebranding the current offer, restructuring how you deliver the current offer. You know, if you have a physical product, it's maybe redesigning it, maybe it's adding an ingredient, if you're a supplement or a protein bar, you know the list goes on, okay? And a big part of that too is looking at what everyone else is doing, find that blue ocean that people are missing and understanding the customer, right? What do they want? And also the overall marketplace trends. So trends change over time and buyers change how they want to operate and

buy and purchase and interact. So look at the buyers too, and you can't do what you were doing five years ago, probably, right? So, you know, maybe you were making all your money five years ago in upsells. Now all your buyers in that skincare industry know what an upsell is and they're not taking the big bundles. Maybe you were making it five years ago with reoccurring subscription and you had a little tick box that auto build people and now, you know, people aren't

ticking it and you know, the FTC and all the laws have changed where it's harder to do that, so you have to understand the general industry too. Now, when we come to creating that blue ocean strategy, a big, big part of it is testing, okay? Because I think what we all sometimes mistakenly is we have this idea, who needs to go to work, go ahead with it, and we never really start to look from afar as this working. We just believe it's gonna work and go ahead with it. And we never really stopped to look from afar as this working.

We just believe it's gonna work and get going. And, you know, one reason I'm successful is I'm pretty unbiased and I move fast and I have an idea, test it. And sometimes I'm so excited, I'm like, I'm gonna make millions of dollars with this. And it flops. Sometimes I have a random idea on a Tuesday afternoon while I'm out for a bike ride. And we launch it and we do make millions of dollars and it's like, Oh, that was pretty genius, uh, and there's no rhyme, you know, rhyme or reason.

Um, so it's really important when you look at this too, you don't go, you know, hide in a corner, you know, hide in a dark room for six months, plan it all and launch it because this is just no way of knowing. You can do your research. You can pay attention to the industry. You can do all those things, but it's kind of like, you got to test it and you got to be willing to pivot and try a few things to find this. Um, I was with a couple of my staff yesterday and we were talking about, uh, how

businesses started and they were fascinated because we were talking about how a couple of my staff yesterday and we were talking about how business has started and they were fascinated because we were talking about how a lot of big brands started and I recommend you Google this. Like go away and Google how a lot of big companies started and what they sold when they first started selling and most big companies that you now know today that you love and you use, they've sold totally different products when they started. Like totally different. Like you know, they started selling toilet roll and now they're PayPal or they're selling

their Toyota selling cars. Something crazy like that, right? That's a made of example, but there's a lot like that. So and I think that's so important to understand too with this because, um, you know, the, you just got to test stuff, right? They, they stumbled, they changed, pivoted, and you know, Toyota maybe started selling toilet roll and now sell cars. And if they're, their CEO and their company and the founders were rigid and slow and not willing to change and pivot, they would never be Toyota,

right? And again, made up example, but there's a lot similar to that. And it's so important, I think, to remember. And especially if you go away and Google it for billion dollar brands, you'll go, wow, and it should sink in a little. So hopefully that kind of helps shift your mindset too. And as you approach this, that's so needed because if you are stubborn and static and stationary on exactly where you're at, you'll die a slow death, right? The statistics of businesses aren't great. If you look at them, you know, I've been able

over the last at least seven years since I started my agency, I've got to see thousands of businesses. I've been in this industry a long time, 10 years or so now, like pretty intensely. There's very few people who make it to $10 million, right? And I know, you know, in my industry, I'm friends with a wrong that is at that level and beyond. And obviously around that is at that level and beyond. And obviously I'm crossed that barrier or that threshold. And when I look back, there's very few people that are with me, right? There's, you know, you get 20, 30, 40 of us in a room and that's it. And you have to reflect on why.

And when I reflect on why and look at all my friends that are at that level, and then the thousands of people I know in the industry that I see at, you know, every Grant Cardone, ClickFunnels event and Facebook groups that aren't a big common denominator. There's a few, right? But one of them is this Blue Ocean Strategy. All the successful people over 10 million, they have a somewhat of a unique offer, right? I had a podcast a few months ago with the clever investor, one of the first in the real estate space, did tens and tens of millions of dollars.

He couldn't do that now if he launched that same product. And if you go listen to that podcast, you'll hear how he's now pivoted to, sold the business, and he's now pivoted to, sold the business and he's now pivoted to home services, taking all his marketing skills and creating home services like floor-laying laminate businesses and he's just running all the marketing and business side because he's got the skill set from doing it in this industry and now it's a blue ocean there because that industry aren't running crazy funnels, ads, call centers, which he knows how to do.

So I think it's a great example, hopefully for you of like, a how people, you know, at the top are operating and how they're creating these blue ocean offers, right, and you should go study them. And then also how people are pivoting in industries too, which ocean offers, right? And you should go study them. And then also how people are pivoting in industries too, which is okay, right? If you're listening to this and you're kind of lost and you've been doing something for a couple of years, like I've, I've reluctantly closed down and wound down a couple of businesses, not intentionally just I had another off opportunity or business take off.

And you know, I,off and I killed my fitness company doing a few million a year and I quickly re-grew an agency beyond that. Then I slowly stepped out of my agency. We still have it. You know, it's kind of more of an in-house for now, our clients and stuff and friends, but we still have it. And you know, I grew this company and we did tens of millions of dollars since,

which I wouldn't have done in my agency. So every time I've given something up and pivoted the business, it's, you know, touch wood. So far, it's gone to much greater heights, right? At least a hundred percent or 200% bigger within a couple of years. So it's also okay to do that. You shouldn't be having shiny object syndrome

and changing every month, but it's okay to pivot when you see a change in industry or an opportunity, which is what I saw both times, okay? So there you have it. You can go research Blue Ocean. And I did an activity with a lot of my members a couple of months ago, or a month or so ago, where we actually used ChatGPT to brainstorm.

So we put in our products, our offers, our unique selling point, what made us unique, what we were great at, and then actually worked with ChatGPT to start brainstorming some Blue Ocean opportunities within that. And all the members got a ton of feedback, great ideas, ideas that I would have come up with if I sat one on one with them and some of them are implementing it. So I recommend you go ahead and do that, too.

If you're kind of like starting this or sat listening and, you know, you're kind of like, where do I start? How do I brainstorm? Go, go let chat GPT do the heavy lifting. It's very, very smart. Um, it's going to give you lots of crazy good ideas and you can take that idea and compound on top of it. Okay. So there you have it.

That's a wrap. Hope you guys are good and I will see you very soon. As always keep living the red life. Take care.