Every entrepreneur starts their journey with one goal in mind: success.
I've never met one that thought: "Meh, I hope it bombs."
Now, of course "success" looks different for everyone. Some might want a double of triple digit growth by a set timeline, while others may simply want to earn enough to substitute their current income, or perhaps get their creative work out there into the world regardless of profit. Either way, success is still success and not bombing.
Most of the people I engage with have heard the statistic that 65-80% of all new businesses fail. There are many possible contributing factors, simply because there are so many different parts to starting a business. I recently read an article titled "Why Start-ups Fail", where the author Tom Eisenmann looked into what the possible reasons for these failures are, and it's not 1 or 2 resounding causes.
But no one knows what percentage of people actually tried again when failing instead of giving up.
In response to this statistic an anonymous man on reddit said:
"It’s not like gambling. When you gamble your odds reset on each hand. But with business if you fail and learn, you have a greater chance of success on the next one. So don’t be scared to fail"
What I'm leading up to is this:
In today’s market where everyone seems to be an influencer and your biggest competitor is no longer 2 streets over but on another continent, the risks are still the same.
Success isn’t just about having a great product or service—it’s about how you communicate your message.
The businesses that thrive are those that master the art of storytelling - crafting a compelling brand that draws in customers like a magnet.
Disclaimer alert! For this next part, I draw on the 7 principles of Building a Story Brand by Donald Miller. It's a good book, worth reading. The premise is that people like stories. A good book or movie draws you in and remains in your memories with fondness.
1. A Character (this is your customer)
The heart of any great story is the hero—and in your brand’s story, the customer is the hero, not you.
Define your hero clearly.
Understanding their needs and desires is crucial. To create a compelling narrative, you need to know their aspirations and challenges. Their age, cultural upbringing, location and language all matter.
Your business exists because people have a need, a frustration, or an issue that they want to eliminate. Maybe they struggle with finding the right solution, or they feel lost in the sea of options.
Recognising your customer as the protagonist helps tailor your marketing messages, ensuring they resonate on a personal level. Empathy is key. By showing that you understand and relate to your customer’s journey, you build trust and rapport. This connection is essential for developing a loyal customer base.
Who are you trying to connect with?
2. The Problem (what they need solved)
Every hero faces a challenge.
In business, this problem is the gap your product or service fills. Identifying this issue is necessary for crafting a narrative that resonates.
Your potential customer’s need to recognize their pain point in your story. This awareness triggers the search for solutions, positioning your business as an answer.
Then articulate the stakes involved. Highlight the consequences of inaction. By doing so, you elevate the urgency and importance of resolving the problem, driving customers to take action.
We all tend to pay more attention to things that speak to our immediate needs.
Here's an example:
My wife's been having back pain recently because she's been using a dining room chair as an office chair. We go online looking for a suitable replacement and are flooded with the vast range of office chairs, all boasting ergonomics, lumbar support and other jargon I honestly don't actually understand.
I eventually found myself on a website that took a different approach - Instead of giving me 100 options to filter through, they started with asking what I needed, followed by a few other questions about weight, height, pain and so forth that narrowed it down to 2 choices.
By clearly defining the problem and positioning your business as the guide to the solution, you immediately create an emotional connection with your audience.
You are getting them to relate to you.
What problem are you helping people solve?
3. The Guide (this is your brand)
Customers don’t need another hero; they need a trusted guide who understands their struggle and provides solutions that can lead them to resolving their problem.
The idea is to position your brand as a trusted advisor, offering knowledge and resources that aid the customer’s journey. Demonstrate expertise that show you as an authority on the issue and a dependable guide. For example, share some of your insights and information on the problem in order to establish your credibility in the field.
Show empathy and understanding toward your hero (customer), by reinforcing your commitment to helping them achieve their goals, rather than give them the impression they are there to fulfil your objectives. This builds a strong foundation of trust and loyalty.
In storytelling, the guide helps the hero overcome obstacles. In the business context, your brand is this guide.
4. The Plan (A Clear Path Forward)
Once your brand is positioned as the guide, you need to provide a simple, actionable plan that leads customers to success. In business, a structured path empowers customers to take confident steps toward solving their problems.
Whether it’s a step-by-step process, a consultation, or an easy purchasing experience, your audience needs to see a clear way forward with your help.
Outline the steps. Provide a roadmap that outlines how your product or service addresses the customer’s issues.
Simplify the process. Break down the solution into manageable stages, ensuring clarity and ease of understanding.
Reinforce the benefits. Highlight the positive outcomes they can expect by following your plan.
Example: A financial advisory firm might offer a step-by-step guide to wealth management, simplifying complex investment strategies into actionable steps for clients that they actually understand.
5. The Call to Action (Encouraging Action)
An effective story compels action. In business, a clear call to action (CTA) encourages customers to take the next step. Your call to action should be clear and direct—whether it’s pre-ordering your product, signing up for updates, or booking a consultation. Encourage them to take the next step with confidence by making sure it aligns with their needs.
Make it compelling. Use strong, direct language that prompts immediate response. Whether it's signing up for a newsletter or purchasing a product, be clear about it.
Align CTAs (how you want your audience to respond) with their goals. Make sure your call to action resonates with the customer’s desires and aspirations, creating a sense of urgency and importance.
Examples:
Use direct language: "Start Your Free Trial Today!"
Highlight benefits: "Achieve Financial Freedom – Book a Consultation Now"
Create urgency: "Limited Time Offer – Don’t Miss Out!"
6. Avoiding Failure (What’s at Stake?)
In a compelling story the hero often faces the risk of failure.
In business, highlighting what's at stake if the customer doesn’t take action reinforces the importance of your offering.
If potential customers don’t take the next step, what will they miss out on? Will they continue struggling with the same frustration? Will they miss an opportunity to improve their lives? Show them the consequences of not engaging with your brand.
Example: A local baker highlights the risk of eating cheap long-life bread off the shelf, using real-life scenarios to illustrate the negative health implications.
7. Ending in Success (The Transformation)
Every hero wants to win. What does success look like for your customers? A better lifestyle? Increased efficiency? Peace of mind? When you paint a picture of what’s possible, your audience envisions themselves reaching that goal with your help.
Show positive outcomes. Use testimonials and case studies to demonstrate real-world success.
Emphasise how your business helps customers reach their goals, fostering a sense of accomplishment and satisfaction.
Example: The local baker mentioned earlier, isn't simply selling fresh bread. When a customer buys bread from Levain, Do they gain a healthy loaf of bread or convenience? Healthier home-made bread delivered to the door of a working mom or a bachelor that works 40+ hour weeks.
Which is the greater value to the hero (customer) in this story?
Yes, the working mom is buying a loaf of bread, but what else is she buying? Peace of mind with a healthier option for her child, convenience/time saved which creates opportunity to spend quality time with their child.
Seeing this distinction, and effectively communicating that in a way that your customer makes the connection is the crux of it.
How are you the Solution?
When you embrace story branding, everything changes.
Having a great solution (product/services) is... well great! but if no one knows about it, it's not really solving anything.
This is why it's so important to approach communication as telling a story - a story can start your business.
You go from being just another business to becoming a brand with a purpose. Your message becomes clear, your audience connects with you emotionally, and your website or local shop becomes a hub of engagement.
A startup mentor is an ideal guide to help you work this out.
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