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Renée Mauborgne

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2024-04-04
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2024-04-04
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  1. “Renee, thank you so much. Economics professor and author Renee Moborn. Hey, thanks so much for listening to the show this week. Please make sure to click the follow button on your podcast app so you never miss a new episode of the show. It helps us out and as always it's free. This episode was produced by Carrie Thompson with editing by John Isabella and a research help from Sam Paulson. Our music was composed by Ramtin Era Bluey. Our audio engineer was Neil Rauch, our production team at How I Built This includes Alex Chung, Carla Estevez, Casey Herman, Chris Massini, Catherine Cypher, JC Howard, Malia Agadello, and Neva Grant. I'm Guy Raz, and you've been listening to how I built this lab.”

    2024-04-04 · How I Built This with Guy Raz · Less competition, more creation with Renée Mauborgne · IDENTIFIED FROM THE TRANSCRIPT

  2. “Renee, if the last 20 years or more, but let's say the last 20 years, has been the story of disruptive creation, how do you see non-disruptive creation playing out over the coming decades?”

    2024-04-04 · How I Built This with Guy Raz · Less competition, more creation with Renée Mauborgne · IDENTIFIED FROM THE TRANSCRIPT

  3. “One of the areas I think that you and your co author Chan point out is age tech. You may not use that term age tech, but areas that focus on aging populations is interesting. I went to the Consumer Electronics Show in Las Vegas earlier this year, and ARP had an enormous booth, like 30,000 square feet. And yet so much of the market is focused on targeting to people younger than that and not creating products and services for older folks. And they estimate that there is just an enormous opportunity to build products and services for certainly for rapidly aging populations in the United States, but all over the western world and even in places like Japan and Korea.”

    2024-04-04 · How I Built This with Guy Raz · Less competition, more creation with Renée Mauborgne · IDENTIFIED FROM THE TRANSCRIPT

  4. “Going to take a quick break, but when we come back, more from Renee on why entrepreneurs should look to their own experience to figure out which problem. With us, I'm Guy Raz, and you're listening to how I built this lab. Welcome back to How I Built This Lab. I'm Guy Ross. Here's more for my conversation with Professor and author Renee Moborn. There are lots of people who listen to this show who do not have companies. In fact, most people who listen to our show are not necessarily entrepreneurs, but may one day want to become or are interested in maybe starting something on their own one day. If they're listening to this and they're thinking, okay, well, what is, where is an area that's beyond disruption? What is an industry or a category right now? What did you guys find?”

    2024-04-04 · How I Built This with Guy Raz · Less competition, more creation with Renée Mauborgne · IDENTIFIED FROM THE TRANSCRIPT

  5. “So instead of like inventing the refrigerator and putting ice sales people out of business, you come up with something entirely new where nobody's doing it anyway.”

    2024-04-04 · How I Built This with Guy Raz · Less competition, more creation with Renée Mauborgne · IDENTIFIED FROM THE TRANSCRIPT

  6. “All right, so let's transition into your latest book because it's about an area and a topic that we hear about a lot in some companies on this show have been disruptors. We mentioned Liquid and Harry's and others. Your new book, your latest book is called Beyond Disruption. And essentially you're arguing that the disruption approach may not be the best approach. I mean, some of the biggest brands and companies over the last 20 years are disruptors, Netflix, all the fame companies. Netflix, Airbnb, Amazon. I mean, these are companies that had huge disruptive impact on those areas. I mean, Amazon put lots of booksellers out of work at a business and Netflix certainly had an impact on movie theaters. But they've also brought incredible value to consumers as well. So tell me a little bit more about”

    2024-04-04 · How I Built This with Guy Raz · Less competition, more creation with Renée Mauborgne · IDENTIFIED FROM THE TRANSCRIPT

  7. “You know, we've had in the past founders, and I have a lot of respect for this perspective, who say, I'm building a hundred-year brand, I want to build an XGE, I want to build the next Nike, whatever it might be. But we've also had some founders who I think have been brutally honest and have said, look, it's not that important to me to build an enduring brand. If I can create enormous value in five or six years, that's pretty good too.”

    2024-04-04 · How I Built This with Guy Raz · Less competition, more creation with Renée Mauborgne · IDENTIFIED FROM THE TRANSCRIPT

  8. “Going to take a quick break, but when we come back, more from Renee on why you don't need to destroy an old business to create a new one. Stay with us, I'm Guy Ross, and you're listening to how I built this lab. Welcome back to How I Built This Lab. My guest is Renee Auborn. In 2017, she put out a follow up to Blue Ocean Strategy called Blue Ocean. Do you think that existing established companies are sort of better placed to adopt a Blue Ocean strategy with new products, or do you think that a company starting completely from scratch has a bigger advantage in creating a Blue Ocean strategy?”

    2024-04-04 · How I Built This with Guy Raz · Less competition, more creation with Renée Mauborgne · IDENTIFIED FROM THE TRANSCRIPT

  9. “Do you think that a brand that tries to be disruptive? Like, you know, we've done Harry's Razors, for example, Gillette dominates razors. Or another recent example is Liquid Death. It's one of the most saturated markets in the world. Water, bottled water. And Mike Cesario entered that saturated market, and within two years they're close to $200 million in revenue. He's created a very significant brand through branding. So it's not necessarily a blue ocean product, but still it's had a significant impact through branding. And if you listen to that episode of the show, it's almost like a masterclass in branding. I think he would argue, I want to speak for him, that brand trumps function any day. Do you think that in the end There's a case to be made for branding as a strategy in a red ocean.”

    2024-04-04 · How I Built This with Guy Raz · Less competition, more creation with Renée Mauborgne · IDENTIFIED FROM THE TRANSCRIPT

  10. “Yeah. Well, let's talk about Tesla for a moment because, I mean, it seems like that's a company that you have looked into and a company that did do many of the things that Blue Ocean companies do. It created an uncontested market space for a time. Now, of course, it's contested by some of the big Chinese electric car makers. But it didn't worry about competing against Ford and Chrysler and Honda and Toyota. trying to capture an entirely new market.”

    2024-04-04 · How I Built This with Guy Raz · Less competition, more creation with Renée Mauborgne · IDENTIFIED FROM THE TRANSCRIPT

  11. “I want to dive so deeply into this. We've done so many companies that are examples of this, and I wonder whether Blue Ocean strategy requires you to jump into an entirely new space, or can you create a Blue Ocean strategy as an offshoot of an existing saturated industry, for example, the automotive industry? I think of a brand like Rivian and RJ Scorringe, what he single-mindedly wanted to build were electric trucks, pickups, and SUVs. Nobody was doing it. People were focused, you know, companies were focused entirely on the small sedans. And now he has some competition. Tesla has a car, and Ford has one, but they really are kind of the gold standard for electric trucks at the moment. And I wonder whether That kind of company could be considered an example of this.”

    2024-04-04 · How I Built This with Guy Raz · Less competition, more creation with Renée Mauborgne · IDENTIFIED FROM THE TRANSCRIPT

  12. “So you started to look at some examples of this. And one of them seems counterintuitive, but it's a great example because it fits right into it, is Cirque de Soleil. And by the way, the founder is going to be on this show later in the year. How did Cirque du Solay become in your mind an example, an archetypal example of the Blue Ocean strategy?”

    2024-04-04 · How I Built This with Guy Raz · Less competition, more creation with Renée Mauborgne · IDENTIFIED FROM THE TRANSCRIPT

  13. “And that eventually led to this grand theory, which again is one of the most influential business theories of the past 50 years called Blue Ocean Strategy, which essentially, and I'm going to paraphrase it, but you'll do a better job at giving a better explanation, is that there are essentially two oceans in business, a red ocean, which is where everybody is, and it's red because they're constantly trying to undermine each other and they're competing for market share, and so it's a bloody ocean. And there's a blue ocean where there essentially is no competition. Nobody's even thinking of that kind of industry or those opportunities.”

    2024-04-04 · How I Built This with Guy Raz · Less competition, more creation with Renée Mauborgne · IDENTIFIED FROM THE TRANSCRIPT

  14. “Untapped market, then your company will leap in value and unlock new demand. Renee was an undergraduate studying economics at the University of Michigan in the 1980s when she became fascinated by how businesses survive. And she saw firsthand what was going on in nearby Detroit at the time as the bottom started to fall out of the auto industry.”

    2024-04-04 · How I Built This with Guy Raz · Less competition, more creation with Renée Mauborgne · IDENTIFIED FROM THE TRANSCRIPT

  15. “Hello and welcome to How I Built This Lab. I'm Guy Raz. So, as you know, we've heard from lots of entrepreneurs on the show who've created incredibly successful brands, and in a way, we like to think of our show as sort of like a masterclass in business from hundreds of founders. And every once in a while, we bring someone on who actually teaches masterclasses, someone with a thirty five thousand foot view on creating a business who studied why some businesses succeed and others fail. Today we're going to meet Renee Mobhorn, an economics professor at the business school in Sied and co-author of bestsellers like Blue Ocean Strategy, Blue Ocean Shift, and most recently Beyond Disruption. Renee and her co-author Chan Kim have spent decades looking into how companies can find huge opportunities, sometimes hiding in plain sight. And as they describe it, if you can find the blue ocean and under”

    2024-04-04 · How I Built This with Guy Raz · Less competition, more creation with Renée Mauborgne · IDENTIFIED FROM THE TRANSCRIPT

  16. “Show you can send us a voice memo at hibt at id.wondery.com or you can call 1-800-433-1298 and leave a message there. That's 1-800-433-1298. And that's it. Hope to hear from you soon. And we are so excited to have you come on the show. And now, on to the show.”

    2024-04-04 · How I Built This with Guy Raz · Less competition, more creation with Renée Mauborgne · IDENTIFIED FROM THE TRANSCRIPT

  17. “It's Guy here, and before we start the show, I want to tell you about a super exciting thing. We are launching on how I built this. So if you own your own business or trying to get one off the ground, we might put you on the show, yes, on the show. And when you come on, you won't just be joining me, but you'll be speaking with some of our favorite former guests who also happen to be some of the greatest entrepreneurs on earth. And together, we'll answer your most pressing questions about launching and growing your business. Imagine getting real-time branding advice from Sunbums, Tom Rinks, or marketing tips from Von Weaver of Uncle Nearest Whiskey. If you'd like to be considered, send us a one-minute message that tells us about your business and the issues or questions that you'd like help with. And make sure to tell us how to reach you each week. We'll pick a few callers to join us on this.”

    2024-04-04 · How I Built This with Guy Raz · Less competition, more creation with Renée Mauborgne · IDENTIFIED FROM THE TRANSCRIPT

  18. “And when you're ready to launch, you offer code built to save 10% off your first purchase of a website or domain. Loans issued by Celtic Bank and serviced by Stripe. All loans subject to credit approval.”

    2024-04-04 · How I Built This with Guy Raz · Less competition, more creation with Renée Mauborgne · IDENTIFIED FROM THE TRANSCRIPT

  19. “At airbnb.ca slash host. This podcast is brought to you by Squarespace. I talk to entrepreneurs all the time who are looking for a way to upgrade their digital footprint. Well, whether you're just starting out or you're scaling your business, Squarespace is the easiest way to build a great website that stands out. It's an all-in-one website platform that gives you everything you need to claim your domain, showcase your products, and get paid. Anyone can use Squarespace's cutting-edge design tools to build an online presence that truly reflects what makes your business special. There are templates, intuitive drag and drop editing, and even an AI enhanced website builder. Then, Squarespace's built-in analytics tools help you make smarter business decisions, review website traffic, learn where to focus engagement, and track revenue all in one place. Looking to grow your business, Squarespace even offers fast, easy business financing through Squarespace Capital. Go to Squarespace.com.”

    2024-04-04 · How I Built This with Guy Raz · Less competition, more creation with Renée Mauborgne · IDENTIFIED FROM THE TRANSCRIPT

  20. “You know, one of my favorite parts of traveling is getting a feel for a neighborhood, the way locals do. A few summers ago, I was in Rome and stayed in an apartment I booked on Airbnb. It was tucked in a quiet neighborhood just outside the Roman forum. Every morning I'd walk to the corner cafe, grab an espresso, and just watch the world go by outside. I even managed to chat with the owner about the neighborhood he lived in for nearly forty years. And he got me thinking about my own neighborhood. There are incredible hiking trails and great restaurants and, of course, the beach. And when I'm traveling this summer, listing my own place on Airbnb could be a really smart way to let someone else experience the area the way I do, like a local. Listing your home on Airbnb while you're traveling is a great way to make some extra money. You could put the money toward your next trip. Your home might be worth more than you think. Find out how much”

    2024-04-04 · How I Built This with Guy Raz · Less competition, more creation with Renée Mauborgne · IDENTIFIED FROM THE TRANSCRIPT