Page 162 - South Mississippi Living - August, 2023

FINAL SAY
LASHAUNDRA
MCCARTY Communications Expert and
Professional Speaker
The economic landscape of the Coast has been anchored by aerospace, hospitality, energy and manufacturing for decades. Amidst the large enterprises that are household names along the 26.2 miles of sandy beach who carry millions in revenue and have thousands of employees, there are the mom and pop shops, side hustlers, and small business visionaries.
COVID-19 granted society a rare moment to pause and reflect. That reflection allowed many of us to question our standing
in alignment or misalignment with once held dreams and the possibility of economic freedom through a nine-to-five with
the inflated cost of housing and the essential monthly purchase of food. We are still experiencing the ripples of those thoughts as our economy continues to shift. Entrepreneurial aspirations have captured the imaginations of millions including those in the hospitality state. According to the U.S. Chamber, in 2022 the number of new business applications in Mississippi rose 75 percent from its total in 2019. That number was 55,264.
Filing the application is the easiest step in the entrepreneurial journey. Creating a business that is financially sustainable and novel enough to rise above the fifty-five thousand is a more challenging task.
To those who are diving into these waters, I say, “Find your blue ocean.” Through the recommendation of the Mississippi Small Business Development Center State Director Sharon Nichols, I picked up a book entitled Blue Ocean Strategy by Chan Kim and Renee Maubornge. It is a guide focused on “creating and capturing uncontested market space, thereby making the competition irrelevant.” After reading this book and attempting to apply its teachings to my communications consulting and speaking business StraightForward, I unconsciously began to see the imperative of this concept everywhere, parsing out the local businesses that have elected to put a twist on the familiar.
The biggest question I have for those that stuck to common industry scripts was, “Why compete when you can create your own space where there is no competition?” This theory is rooted in innovation and alleviates the ability for potential customers
to compare yours with the business down the street or the next
city over. When you present as an industry of one, there is no comparison.
This feels a little counterintuitive when we seek to mimic models that have left trails of success that we could easily follow. However, that follow into crowded spaces makes it harder for businesses to show just how unique they are in the tapestry of hundreds or thousands who are recreating what they have seen others do. Blue Ocean Strategy begs us to be bolder and to think differently.
For those of us who have or engage children, we often encour- age them to not follow the crowd but to have their own thoughts and voices. Should we not adhere to that same wisdom when formulating our business ventures that are aimed to be a reflec- tion of our vision? How do we get so lost? Is it easier to flow in waters that are recognized? Is it easier to mirror the competitor because we can do what we see more readily than create some- thing that we have never seen? Yes and yes. If you choose this path, don’t you deserve the chance to stand in your own great- ness. I believe you do. Hopefully, so do you.
162 | August 2023
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