I hear versions of these complaints all the time:
We have an amazing idea, but for some reason, our product isn’t gaining traction.”
Our CEO is brilliant, but people aren’t sure she has the vision to grow the company.”
We’re having trouble getting new recruits excited about what we do.”
Our story just isn’t ‘sticking.'”
In each case, there’s a common problem: Story Neglect.
You may have all the ingredients you need to become the next Uber or Airbnb — a great product idea that solves a real need, technical acumen, a strong co-founder, terrific advisors and investors.
But if you’re a tech startup Founder and CEO who hasn’t yet thought through how you’d tell the following 3 stories, chances are you’ll hit a wall at some point on your way to scaling into a big sustainable company. Yes, you may experience the initial veneer of success and market interest. But without these foundational narratives your progress will eventually grind to a halt. And the longer you wait to do this, the harder it will be to regain lost time.
The good news is: If you pause now and spend a day thinking through what you want to say about yourself and your company, you will save oodles of time and heartache down the road.
The 3 stories every tech startup founder/CEO needs are:
Who are you?
Who is your company?
How are you trying to make things better?
Locking down these narratives from the start will help you create a sense of mutual understanding, common culture and shared sense of mission like nothing else can. It’s like the glue that will hold your company and partners together through the inevitable tough times ahead.
This is because the people you want by your side are not going to be motivated by exit strategies, competitive analyses or TAM (total addressable market). They’re going to be motivated by the stories they tell their family and friends about why they’re proud to be working so hard with you and your cool startup. This is critical as you begin to hire, look for partners, solicit customers and seek more investors and advisors.
So, how do you get started? (For tips on the mechanics of how to pull your stories together, check out my prior post on how to Launch Your Story Like a CEO.)
Get out a white board and take note of:
Who are you?
Your founder/CEO story conveys your personal trajectory (through life, academia and/or early career) and explains your personal passion for your company’s product and mission. In startup stage, your leadership and credibility are at least as important as the product or service you’re creating. Your story connects your biography with the company story, and makes it perfectly clear why the company is a natural outgrowth of your interests and passions. Note: This is the narrative that dispels concerns that you’re just in it for the money and are hoping for a quick exit, because no one will want to work with or for you if that’s the case. (For more context, see: Why CEO Stories Matter Now.)
Example of a great founder story: WhatsApp Founder Jan Koum
Who is your company?
Your company’s “creation story” is the narrative that will be told and retold through countless media interviews, recruiting meetings and fundraising pitches. You’d better really like it, and feel extremely comfortable with its representation of the facts. It should cover the problem you’re seeking to solve, and any unusual circumstances or hardships faced along the way. The more colorful the story, the better. It can be serious or humorous, quirky or earnest. However you tell it, your company’s narrative should be told in the unique tone and voice that is distinct to you, and authentic to your community. Don’t use Big Company Voice when you’re trying to be personable, friendly and authentic.
Example of a great company story: Spanx
How are you trying to make things better?
This is sometimes referred to as your mission, vision and values. Every good company has this, regardless of what it’s called. It’s the story that gets your employees excited and engaged, and helps everyone remember what they’re working for. Added bonus: customers, partners and even vendors love working with mission-minded companies too.
Examples of missions that stick, and motivate customers, users and employees: Tom’s shoes, LinkedIn, Google
Getting ahead of these foundational narratives early on, and being able to convey them with energy and passion, will instantly distinguish you from competitors and make you and your company more memorable. These qualities are critical to your success as you build your startup through hiring, fundraising and user/customer growth.
Written by: Rebecca Goldsmith Source: www.LinkedIn.com
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THE MARK CONSULTING & MARKETING