There is no denying that health care is a crowded market. It seems like there are new urgent clinics, outpatient centers and MRI facilities popping up every time you turn around. When thinking about how to continue to drive my organization forward and navigate the waters of the health care market, I often refer to back to the groundbreaking book, Blue Ocean Strategy.
In this book, authors Kim and Mauborgne examine the ways in which organizations (and their leadership) tend to remain in the crowded, bloody red waters of competition, when they should be swimming in the oceans of an uncontested market space. In other words, ignore the competition and focus on your own organization to create new and innovative programs and service lines.
Building on the Blue Ocean Strategy model and in putting together our new strategic plan, here are some parameters that helped guide our work:
- Don’t worry about others. Focus on yourself. Don’t spend your time obsessing about the competition. While you should have a clear understanding of the landscape in which you operate, don’t get bogged down in tracking the movements of others. Instead, find the open lane and take off running.
- Act don’t react. Position yourself to take on new challenges, setting the pace for your own development and growth as opposed to catching up to others and reacting to their successes.
- Focus on quality and value to drive a new type of demand and new customers.
- Be willing to operate in the unknown. True innovation comes with risk. If you have developed a trusting team and built a solid foundation, taking a chance on the unknown is not only possible, it is necessary.
Whether it’s health care, manufacturing, financial services or any other growing sector, in order to stay at the forefront of your field, you must stand out from the crowd. The best way to do that is understand who you are and where you are going. If you can do this, you’re ahead of the game.
If you are interested in learning more about the Blue Ocean Strategy, I highly recommend reading the book which you can purchase here.