You’ve probably heard about the saga of We Work.
To cut a long story short this is a company which leases shared office space.
During their meteoric rise they managed to raise BILLIONS in funding.
Everything was going well and they were poised to launch on the NYSE.
Unfortunately this did not happen.
After releasing their public prospectus the company was heavily criticized.
Since then they have lost eye watering amounts of cash including $2 billion in 2018 alone.
They have also faced endless legal challenges and controversies.
But We Work is a strange company. What they do is extremely basic. They are essentially a middle man between people who want to let shared work spaces and landlords. There’s nothing special about them at all. But despite this they were able to receive enormous amounts of money and publicity.
The reason why this happened is simple:
We Work managed to get people to perceive them as a high tech startup company.
Investors saw them as the next Google, Facebook or Twitter.
This was mostly due to charismatic founder Andrew Neumann.
People say this guy has a mind boggling ability to blow smoke up your ass.
He was able to convince people that We Work was worth billions.
What’s the point of all this?
The point is that positioning is ultra-important in business and marketing.
You must think deeply about how you are positioned in the market.
And also how people perceive your business.
POSITIONING is the difference between scraping by or making millions.
Figure it out before you do anything else.