Positioning is sometimes referred to as the fifth P, along with product, price, place, and promotion. Founders spend the formative years of their companies answering a constant stream of questions from prospective employees, investors, and investors: What are you? Is that like so-and-so? How are you different from [insert large company that will no doubt crush you]? Developing a desired position, and formalizing it with a positioning statement, are critical steps on your way to profit and glory. … [Read more...]