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As a business advisor, I always recommend that you make yourself and your business more memorable with a personal story that constituents and investors can relate to. We’ve all heard too many sales pitches for the next exciting opportunity or breakthrough technology, and they don’t stick with us for long. The challenge for startups is to gain traction above your many competitors.
For example, when Blake Mycoskie founded TOMS Shoes, he took his pain from traveling to South American countries where he saw people suffering from lack of shoes, supporting his business model by donating one pair of shoes for every pair sold. The result was early support for the startup, rapid business growth, and huge brand recognition at minimal cost.
In fact, a memorable story doesn’t even have to be related to your business. Any investor will tell you that they remember and love founders who tell compelling stories about overcoming great adversity or never giving up on their passion. In my experience with aspiring business owners, I’ve found that one or more of the following attributes will elevate your story above the rest:
1. Highlight the problem your business solves. Every business story should appeal to people with a real need, not just highlight a new technology or entertainment alternative. That need could be a more affordable tool, a less risky solution, or an answer to a long-desired entertainment alternative. Ignore better usability and competitive angles.
2. Inspirational or mindset transformation events. Most people can relate and will remember you for unexpected or traumatic events that have had a profound impact on you or changed the focus and direction of your life or career. The result is connections that can provide you with support, loyalty, or a second chance to overcome the obstacles you face.
3. Integrate high-level moral goals or values. Everyone wants to make a difference and contribute to a better world, perhaps by helping the less fortunate or reducing climate change. Your narrative should go beyond business and financial goals like profit and shareholder value. Create a story-based connection for your audience.
4. Make it more lively with location and time details. Events happen every day in every geography around the world. Make your event more memorable and unique with actual specifics that paint a picture for everyone to understand why the event had such a big impact on you. Then expand the impact to relate it to a broader segment of the opportunity or population.
5. Use real names, don’t use generic characterizations. As an investor or even as a customer, I see too many promotions that are simply product descriptions or sales pitches with no real human involvement whatsoever. These promotions are not memorable, and they don’t add any emotional appeal that would influence my decision to invest, support, or buy from the business.
6. Include real, measurable examples in your story. Your opinion or someone’s abstract testimonial doesn’t highlight the uniqueness of your business and isn’t memorable. Use real video footage and photos from real events to show the emotional and special impact of the event on your business. Avoid using non-specific marketing terms and text.
Phone number 7. Close the story with lessons learned and recommended actions. This is where you personalize and name your competitive advantage over your peers and existing players, and encourage closing the deal, whether it’s an investment in your business or a purchase of a product. Every story or anecdote needs a beginning, middle, and end.
None of these narrative attributes can replace the basics of business, including a business plan, financial projections, and basic operations. The goal of a compelling story is to get maximum initial attention and consideration. In today’s age of information overload and global competition, that can make the difference between the success and failure of you and your business.
