Read "Blue Ocean Strategy" by W. Chan Kim & Renee Mauborgne
The authors describe "Red Oceans" as the result of competitors rivaling against one another in an existing market with a shrinking profit pool. On the other hand, our attention is redirected towards Creating Uncontested Market Space, which they refer to as Blue Oceans.
Creating new market spaces brings rise to new demand and new opportunities and makes the competition irrelevant. Rather than burning out in a market space saturated with competition, we should consider new ways to enhance product and service values that are uncontested.
This book was recommended by Julie R. Manley, Co-Founder of Nano LiquiTec, LLC.