Recently there has been a lot of talk in legal circles about disruptors and most of the chat is around what is innovative and different, and in particular, what new technologies could be used.
But if you don’t want to create something entirely new, how can you move your business strategically to the “blue water”? And how can KM and KMers help?
One of the suggestions from Kim & Mauborgne is that you ask certain key questions in order to understand buyer value elements more accurately.
A couple of these struck me as particularly useful for those wanting to make a shift or working for internal clients:
- Which of the factors that your industry/sector/peers take for granted, should be eliminated?
- Which factors should be reduced well below your industry’s standard?
We all love to over-deliver and delight our clients, but how often are you over-delivering in the wrong factors?
We all find it very hard to drop standards as clients’ needs change, so we layer new services on top of old ones and we over-engineer products and services adding unnecessary additional cost for things the clients don’t really want.
When did you last question the assumptions underlying your business/service?
What aspects of your service delivery do you take for granted? What “best practice” has become such an industry standard that no one even questions it anymore?
How much more business could you gain if you concentrated your efforts on those aspects which customers (and that massive pool of not-yet-customers) value most?
And for KMers in particular:
- How can you support your organisation in obtaining the right customer information on these topics in order to make an informed decision?
- How can you deliver what your internal customers/fee earners truly value, rather than what has always been done and what you perceive as your industry standard?
- Are there any client-facing KM services you could identify that provide new value?
What do you think? Are these useful questions to help you think differently and make a shift? What will you be doing differently now?
If you are interested in KM Strategy or revamping your strategy, come along to my afternoon workshop on 26th April 2018 in London – more info & book here.
For more, read “Blue Ocean Strategy” and “Blue Ocean Shift” and sign up for the Blue Ocean toolkit.
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