Danny Matthews' Guide to Compelling Startup Narratives

Founder Institute
17 Nov 202359:53

Summary

TLDRIn this engaging talk, Danny Matthews emphasizes the power of storytelling in branding and securing investment. He argues that the traditional pitch formulas need reimagining to tap into the emotional side of the brain, which drives most buying decisions. By sharing personal experiences and practical examples, Matthews provides insights on crafting a compelling brand narrative that resonates with customers and investors alike, stressing the importance of starting branding from day one and iterating often.

Takeaways

  • πŸŽ‰ The proven pitch formula needs reimagining to focus on telling a compelling brand story that invites customers and investors to see themselves as part of it.
  • 🌟 A strong brand story should tap into the emotional side of the brain, as most buying decisions are driven by emotions.
  • πŸš€ The order and manner in which you tell your brand story can significantly impact the results you get, especially in terms of gaining traction and funding.
  • 🧠 Understanding the problem and solution from a real-world application perspective helps in visualizing how the product or service fits into the customer's life.
  • 🌐 Differentiating your brand from competitors can be achieved by focusing on your brand's unique personality and voice.
  • πŸ’‘ The storytelling blueprint from Hollywood can be applied to brand building, involving a hero, a problem, a guide, and a call to action leading to success.
  • πŸ” For early-stage founders, it's beneficial to start working on the brand story from day one and iterate often, as it helps in understanding the business you want to build.
  • 🀝 When pitching to investors, showing a deep understanding of the customer's problem and how your solution addresses it can be more compelling than just presenting the idea.
  • 🌈 In cases where the founder is not directly involved in the problem or solution, it's crucial to be curious and learn from potential customers to build a genuine and relatable story.
  • πŸ“ˆ The brand story is not just about the founder's origin story; it's a narrative that puts the customers or investors at the heart of the story, making them the heroes.
  • πŸ“š 'Building a Story Brand' by Donald Miller is recommended for those interested in applying Hollywood storytelling techniques to their brand and marketing.

Q & A

  • What is the main focus of the event that Daniel is introducing?

    -The main focus of the event is on storytelling in branding, with a particular emphasis on how to create a compelling brand story for startups to gain traction and funding.

  • Why is the traditional pitch formula problematic according to Danny?

    -The traditional pitch formula is problematic because it focuses too much on logical elements and fails to tap into the emotional side of the brain, which plays a significant role in decision-making, especially for buyers and investors.

  • What is the significance of neuroscience in the context of branding and storytelling?

    -Neuroscience is significant in branding and storytelling because it helps understand how the brain processes information and makes decisions. By leveraging insights from neuroscience, storytellers can craft narratives that appeal to both the logical and emotional aspects of the human brain.

  • How did Danny's experience with the mortgage sector in the UK influence his approach to branding?

    -Danny's experience with the mortgage sector led to the creation of a proof of concept that secured significant funding, even before it became an MVP. This experience underscored the importance of a strong brand story in attracting investment and gaining traction.

  • What are the two key elements that Danny believes a compelling brand story should achieve for early-stage founders?

    -A compelling brand story should achieve traction and funding. It should invite customers and investors into a narrative where they can see themselves as part of the solution, thus increasing the likelihood of investment and market engagement.

  • What is the importance of the order in which a story is told during a pitch?

    -The order in which a story is told can significantly impact the effectiveness of the pitch. Starting with an emotional narrative can hook the audience before presenting the logical aspects of the business, making the overall pitch more compelling and persuasive.

  • How does Airbnb's shift in marketing strategy illustrate the power of storytelling?

    -Airbnb's shift from traditional customer acquisition through ads to focusing on storytelling and brand building resulted in a significant increase in their valuation. This demonstrates the power of storytelling to create a strong brand identity and emotional connection with the audience.

  • What mistake do founders often make when adding narrative to their pitch?

    -Founders often mistake their brand story as their origin story. However, the brand story should be a narrative that puts the customers or investors at the heart of the story, inviting them to see themselves as part of the solution, rather than focusing on the founder's personal journey.

  • What is the Hollywood storytelling blueprint that Danny refers to?

    -The Hollywood storytelling blueprint is a framework where a hero wants something, encounters a problem, meets a guide who gives them a process, and is called to action that leads to success and helps them avoid failure. This blueprint can be adapted for branding and pitching by focusing on the customer's desires and journey.

  • How does changing 'we' sentences to 'you' or 'your' sentences in branding materials enhance the message?

    -Changing 'we' sentences to 'you' or 'your' sentences shifts the focus from the company to the customer, making the message more personal and relevant. This simple tweak can make the audience feel that the solution is tailored to their needs, thus increasing engagement and interest.

Outlines

00:00

🎀 Introduction and Event Kick-off

The paragraph introduces the event and the speaker, Danny, who is a familiar figure in the FI Community. Daniel, from the FI marketing team, welcomes the audience and acknowledges participants from various locations around the world. He emphasizes the international nature of the crowd, highlighting the global reach of startups. Before bringing Danny on stage, Daniel reminds the audience of the housekeeping rules, such as using the Q&A button for questions during the presentation. He also gives a brief overview of the event's agenda, which includes a presentation by Danny, a Q&A session, and a networking portion.

05:03

🌟 The Art of Pitching: Reimagining the Pitch Formula

Danny begins his presentation by discussing the common challenge faced by founders when pitching to investors - the saturation of similar pitches leading to a lack of differentiation. He emphasizes the need to reimagine the traditional pitch formula. Danny points out that while founders often have good ideas and teams, they fail to gain traction and funding due to their inability to tell a compelling brand story. He introduces himself and his background, including his significant achievement of securing funding for a mortgage sector concept in the UK. Danny also mentions his involvement with various enterprises and his role as a mentor, highlighting his extensive experience in helping startups.

10:03

🧠 The Neuroscientific Approach to Storytelling

Danny delves into the neuroscience behind storytelling, explaining that while the logical part of the brain is responsible for 20% of our decisions, the emotional part drives 50% of our buying choices. He argues that traditional pitch formulas fail to tap into the emotional aspect of decision-making. By focusing on the emotional brain, startups can better engage investors and customers. Danny uses an example of gift waste during Christmas to illustrate the difference between stating a problem and narrating a story that resonates emotionally. He also touches on the influence of habits on purchasing decisions and the importance of aligning the brand's narrative with the target audience's buying habits.

15:03

πŸ“ˆ The Power of Story in Branding

Danny stresses that the brand story is central to creating a vision and perception in the minds of customers and investors. He challenges the common misconception that the brand story is about the founder's origin story, asserting that it should instead focus on the customer or investor as the hero. Using Airbnb's success as an example, Danny illustrates how storytelling and brand building can significantly increase a company's valuation. He emphasizes that the order and manner of storytelling can greatly impact the outcome of a pitch and that the brand story should invite the audience to envision themselves as part of the solution.

20:05

πŸ› οΈ Crafting a Compelling Story for Your Pitch

Danny provides a practical guide on crafting a compelling story for pitches. He advises founders to discuss the problem and solution in real-world applications, making it relatable to the audience. He suggests using the 'ordinary world' technique to contrast life before and after the solution is implemented. Danny introduces the Hollywood storytelling blueprint, which involves a hero wanting something, encountering a problem, meeting a guide, and achieving success. He breaks down each step, emphasizing the need for clarity and simplicity in communicating the solution and the importance of highlighting the successful outcomes and the failures that the product or service helps avoid.

25:07

πŸš€ Applying the Storytelling Blueprint to Your Brand

Danny explains how to apply the Hollywood storytelling blueprint to brand building. He advises founders to understand their customers' desires and problems, to empathize with their struggles, and to establish their authority to solve the problem. He stresses the importance of simplifying the problem-solving process and clearly communicating the successful outcomes. Danny also highlights the need to articulate what failures the product or service can help avoid. He encourages personal transformation stories, allowing customers to see themselves evolving through the use of the product. He concludes with a practical tip on changing 'we' sentences to 'you' sentences in marketing materials to make the brand more relatable and customer-centric.

30:10

🀝 Engaging with the Global Audience

In the final paragraph, Daniel from the FI marketing team thanks Danny for his insightful presentation and opens the floor for questions. He encourages the audience to engage with Danny during the networking portion and to connect with him on LinkedIn. Daniel also reflects on the importance of branding from the early stages of a startup and the value of incorporating brand elements like mission, vision, and values into the company's growth trajectory. He concludes the session by inviting the audience to continue the conversation in the networking section and expresses his anticipation for further interactions with the global community of founders.

Mindmap

Keywords

πŸ’‘Brand Story

A compelling narrative that connects the brand with its customers and investors by highlighting the problem it solves, the vision it represents, and the emotional journey it invites its audience to embark on. In the video, the speaker emphasizes the importance of creating a brand story that resonates emotionally before presenting logical facts, as it can significantly impact the effectiveness of a pitch and the overall brand perception.

πŸ’‘Emotional Buy-In

The process of engaging an audience's emotions to gain their interest and commitment before presenting logical or factual information. The video emphasizes that storytelling should tap into the emotional aspects of the brain, which is responsible for approximately 50% of buying decisions, to create a connection and build a persuasive argument.

πŸ’‘Pitch Frameworks

A structured approach to delivering a business pitch that typically includes elements such as the problem being addressed, the solution offered, the market opportunity, and the team behind the venture. The speaker argues that while these frameworks are commonly used, they often lack an emotional component, which is crucial for effectively engaging investors and customers.

πŸ’‘Networking

The process of building professional relationships and connections that can offer support, collaboration, and opportunities for business growth. In the context of the video, networking is an essential part of events and meetups, allowing founders to engage with like-minded individuals and potential investors.

πŸ’‘Proof of Concept

A demonstration or a version of a product or idea thatιͺŒθ―s its feasibility and potential value in the market. It is often used to attract investment or partnerships before full-scale development. The speaker shares his experience of securing funding based on a proof of concept, highlighting the power of a compelling story in the absence of a fully developed product.

πŸ’‘Investor Engagement

The process of capturing the interest of investors and maintaining their involvement throughout the development and growth of a startup. It involves clear communication, demonstrating the value proposition, and establishing an emotional connection. The video emphasizes the importance of storytelling in investor engagement, as it helps investors see themselves as part of the startup's journey.

πŸ’‘Personal Transformation

The change or growth that an individual undergoes as a result of engaging with a product or service. In the context of branding and storytelling, personal transformation is a powerful narrative tool that illustrates the impact of the brand on its customers' lives. The speaker suggests using personal transformation as a key element in brand storytelling to show the 'before and after' state of customers.

πŸ’‘Hollywood Storytelling Blueprint

A narrative structure often used in movies where a hero wants something, encounters a problem, meets a guide who provides a solution, and takes action to achieve success while avoiding failure. The speaker suggests adapting this blueprint for brand storytelling, positioning customers as the heroes and the brand as the guide, to create a compelling and engaging story.

πŸ’‘Founder's Story

The personal narrative of the founder that explains the origins of the startup, the challenges faced, and the vision for the future. While traditionally considered central to brand storytelling, the speaker argues that the founder's story should not be the focus but rather the narrative should center on the customer or investor as the hero.

πŸ’‘Customer Journey

The process or experience a customer goes through when interacting with a brand, from the initial awareness to the point of purchase and beyond. The speaker emphasizes understanding the customer journey and their emotional needs throughout it as a critical component of effective brand storytelling and pitch creation.

Highlights

The importance of telling a compelling brand story was emphasized, which can significantly affect a startup's ability to gain traction and funding.

The traditional pitch formulas were critiqued for being too focused on logic and lacking emotional engagement, which is crucial for buying decisions.

The concept of reimagining the proven pitch formula was introduced, advocating for a more story-driven approach that invites customers and investors into a narrative.

The role of neuroscience in understanding human decision-making was discussed, highlighting the 80/20 rule where 80% of buying decisions are emotionally driven.

A personal example was shared about hiring a cleaner, demonstrating how storytelling can emotionally connect and persuade better than logical arguments alone.

The power of storytelling in branding was emphasized, with the story being the core of the brand and influencing all aspects of marketing and perception.

Airbnb's strategic shift from buying customers to storytelling and brand building was cited as a successful example, leading to a significant increase in valuation.

The common mistake of focusing the brand story on the founder's origin story was pointed out, urging instead to center the customer or investor as the hero.

A storytelling blueprint based on the Hollywood formula was provided, outlining the structure of having a hero, problem, guide, and call to action leading to success.

The importance of understanding the customer's wants and problems was discussed, emphasizing the need to communicate in a way that resonates with their perspective.

The concept of two ordinary worlds was introduced, as a tool for mapping out the problem and solution in a relatable, before-and-after scenario.

Practical advice was given on changing 'we' sentences to 'you' sentences in communication materials, making the message more personal and engaging.

The presenter's own experience of securing significant funding with just a proof of concept was shared, illustrating the power of a well-told story.

The balance between focusing on product development and working on branding was discussed, advocating for early and continuous brand development.

The need to differentiate the brand from competitors was addressed, suggesting the use of a unique brand personality and voice as key differentiators.

The presenter encouraged founders to embrace storytelling as a self-development exercise, revealing insights about personal values and vision.

Transcripts

play00:00

hello hello everyone I hope you are

play00:02

having an awesome Tuesday my name is

play00:04

Daniel I'm a part of the FI marketing

play00:06

team and we're back again with a very

play00:09

very exciting event and I'm particularly

play00:12

excited about this one because our

play00:14

speaker today is someone who we are very

play00:16

familiar with uh at the FI Community he

play00:19

is a director for fi London and he's

play00:22

going to be speaking about a topic that

play00:23

I personally really like which is

play00:26

telling a compelling Brand Story and

play00:29

before we bring uh Danny on stage and

play00:32

get things kicked off I just want to ask

play00:34

you all where are you all coming in from

play00:36

let us know in the chat I can see that

play00:38

we have people in from California okay

play00:40

Englewood Portland Oregon awesome

play00:43

Seattle Berlin

play00:45

Lisbon Helsinki

play00:48

Killa nice okay we have people here from

play00:52

Romania New Jersey Finland awesome

play00:55

awesome so as always a very uh

play00:57

International crowd kind of tells you

play01:00

all that you need to know about the

play01:01

power of startups and their ability to

play01:04

kind of uh connect people from all

play01:06

across the world before we bring Danny

play01:08

on stage just a couple of um

play01:10

housekeeping rules uh folks if you have

play01:13

any questions while Danny presents I

play01:16

would urge you to click the Q&A button

play01:20

right under the chat button that you see

play01:21

on the right and drop your question in

play01:23

there uh once we move on to the Q&A

play01:26

portion Danny will uh answer all your

play01:29

questions and yeah just to kind of

play01:31

briefly go over the agenda as well uh

play01:33

Danny will present then we'll do the Q&A

play01:36

and then we do have a networking portion

play01:38

afterwards where you'll get uh the

play01:40

opportunity to hopefully speak to Danny

play01:42

himself I'll be there from the FI team

play01:45

and hopefully uh fellow Founders

play01:48

aspiring Founders from all across the

play01:50

world so yeah without further Ado a

play01:52

could you bring Danny on

play01:55

[Music]

play01:58

stage hi

play02:01

Danny hey guys thanks for having me

play02:05

awesome thank you for being here with us

play02:07

before I uh you know let you take the

play02:09

stage and get out of your hair here

play02:10

folks if you look at the bottom of your

play02:12

screen you should see this reaction

play02:14

button if you are enjoying what Danny is

play02:16

saying if you're enjoying the

play02:17

conversation everything that's going on

play02:19

show Danny some love there we go Danny

play02:21

everybody everybody's already very

play02:23

excited keep it going yeah it's

play02:27

great good stuff thanks everyone thank

play02:30

you very much for for coming um so look

play02:33

one of the most important skills you

play02:36

will learn as a Founder is the ability

play02:38

to pitch well um but and there there's

play02:42

quite a big but when you stand in front

play02:45

of investors you are joining a long

play02:48

queue of startup Founders that are

play02:51

pitching essentially for the same money

play02:53

from the same investors who are using

play02:55

the same old pitch formula as you and

play02:59

what's become very interesting to me um

play03:02

working with startup Founders is that

play03:05

the pitch Frameworks themselves are not

play03:08

the problem but you know we we get into

play03:11

this uh this cycle of if it isn't

play03:14

broke uh so like most things that work

play03:17

uh we don't really look to change them

play03:19

very often so um now in contrast to that

play03:24

I think you'll agree that over the last

play03:26

couple of years a lot has changed and

play03:30

uh that includes but it's definitely not

play03:32

limited to the reason that people buy

play03:36

and I think this leaves a massive

play03:39

opportunity on on the table because

play03:41

investors are buy buyers too they need

play03:43

to buy into us and our ideas and

play03:46

especially at a very early stage they

play03:47

need to buy to us as Founders because a

play03:51

lot of investors understand and realize

play03:53

that as early stage Founders you might

play03:56

pivot a few times and the idea might

play03:58

look might not look the same in 12

play04:00

months than it does today and I think

play04:03

that's that's really important so let me

play04:05

share some slides with you and I'm going

play04:07

to um dig into this straight away to

play04:09

give you a bit of a a a flavor and a

play04:11

feel of how this is going to go today um

play04:14

I want to go through these slides um

play04:18

pretty quickly uh so I'm going to Rapid

play04:21

Fire through there but then I'm going to

play04:22

stick around at the end we're going to

play04:23

have a Q&A and then I'm going to stick

play04:25

around for networking as well so uh to

play04:27

make sure that we can that we can get

play04:29

the most out of this and you guys all

play04:31

across the world can get really

play04:34

selfish uh and only ask questions about

play04:37

your business and your idea so let me

play04:39

share these and let's get cracking so I

play04:44

think and I believe that the proven

play04:46

pitch formula needs to be

play04:48

reimagined um

play04:51

because most Founders have good ideas

play04:54

and go to market at the right time they

play04:57

have the right team uh the right product

play04:59

even but they lose the opportunity to

play05:02

gain traction and funding as soon as

play05:05

they open their mouth and the reason is

play05:08

because what comes out is about them

play05:13

instead of inviting customers and

play05:15

investors into a story that they can see

play05:18

themselves part of so um what I want to

play05:22

talk about today is how to create a

play05:25

compelling story for your pitch so uh a

play05:31

very quick hello to everyone who's

play05:32

joined this event um over the next kind

play05:34

of 20 minutes half hour or so I'm going

play05:36

to teach you how to create a compelling

play05:38

story for your pitch uh the kind of

play05:40

story that achieves two things for early

play05:42

stage Founders because let's face it

play05:44

you're only after these two things

play05:46

traction and or funding so most of the

play05:50

people I speak to are um looking for

play05:52

traction whether they're bootstrapping

play05:53

and they just need some you know their

play05:55

first 10 customers their first uh 100

play05:58

people uh on their platform whatever it

play06:00

might be they're looking for traction if

play06:02

not they're looking for funding to

play06:04

accelerate that my name is Danny

play06:06

Matthews I'm the founder of short story

play06:07

Ventures uh were a venture Studio where

play06:10

change making entrepreneurs become

play06:11

change uh gamechanging

play06:14

Brands a uh my career took a really

play06:16

interesting turn um when a proof of

play06:20

concept I built for the mortgage sector

play06:23

in the UK secured three and a half

play06:25

billion pounds worth of funding from UK

play06:28

government um that was from a proof of

play06:30

concept um so to put that into context

play06:33

it was way it was before it was even an

play06:37

MVP so a lot of the startup Founders I

play06:39

speak to are really looking to build an

play06:41

MVP to get that traction whereas this uh

play06:44

was something that got funded purely

play06:46

from a proof of concept and an idea

play06:48

really that I had and since then I've

play06:50

worked with hundreds and hundreds of

play06:51

companies to get traction and funding

play06:53

using really traditional brand strategy

play06:57

uh and design methods and many of them

play07:00

are in the position you are now uh which

play07:02

is the chicken and egg situation which

play07:05

is you need traction to get funding but

play07:09

you need funding to get some traction so

play07:11

I completely get it I've been through it

play07:13

myself when I see it over and over again

play07:15

so I'm really hoping that what I'm about

play07:17

to teach you uh with a compelling story

play07:20

you get to do both of these much faster

play07:23

than you would without it um I've

play07:26

personally invested in four companies I

play07:28

advise two St TOS I Mentor around 500

play07:31

Founders as a director of fi in London

play07:33

but also as uh a part of Enterprise

play07:36

programs across the southwest of England

play07:38

and Wales where where I live and for the

play07:41

most part I see the same mistakes over

play07:43

and over which I I'll share with you in

play07:45

a moment but basically um I want to

play07:47

share with you why the proven fit pitch

play07:50

formula needs to be reimagined um first

play07:52

and foremost

play07:54

so for

play07:56

decades maybe longer but definitely for

play07:59

decades we've been given these

play08:00

Frameworks to present ideas and

play08:04

businesses to investors and sometimes to

play08:07

customers too um and you've probably

play08:10

come across them even as fi framework

play08:12

you'll see them so the uh problem

play08:14

solution framework or the vision

play08:16

opportunity framework or uh there's a

play08:18

team framework and traction framework

play08:20

and there's loads and loads of them uh

play08:22

Frameworks you can use to pitch to

play08:24

investors or customers but all of them

play08:27

in in my experience uh

play08:29

black oh

play08:32

sorry uh can you guys still

play08:35

see my screen sorry I think let me

play08:39

reshare this for

play08:40

you um

play08:46

so there it

play08:49

go we

play08:52

go okay guys sorry one

play08:56

second

play08:58

um

play09:05

okay I don't know where that's gone um

play09:08

but I'm going to look for

play09:09

it so please bear

play09:13

with

play09:23

uh okay uh I've got it back now to

play09:27

apologies uh we are back on truck so uh

play09:31

where were

play09:33

we here we go okay so um uh so why the

play09:39

proven P pitch formula needs to be

play09:40

reimagined so all all of these kind of

play09:43

pitch formulas pitch Frameworks that

play09:45

we're given lack a key element that I

play09:47

think makes a huge difference and um one

play09:51

of the thing I find myself constantly

play09:52

saying is it's not rocket science but it

play09:56

is neuroscience so all of this stuff is

play09:58

embedded in how we think as human beings

play10:01

and I want to share with you what that

play10:02

means and and and what that looks like

play10:05

so um this is the part of our brain

play10:08

right the front uh which we use 20% of

play10:11

the time in our bind decisions and that

play10:13

is the logical part of our brain this is

play10:17

why I think the uh The Proven fit pitch

play10:21

formula needs reimagining because all of

play10:23

this stuff is what it covers it covers

play10:26

the problem solution opportunity team

play10:28

traction Market size it it covers all of

play10:31

those logical elements of why we buy

play10:34

thing does it make sense is there a big

play10:36

big enough market for it can I see um a

play10:39

big enough problem that's being solved

play10:41

by this solution um so most of them all

play10:45

about logic what we miss is the

play10:48

opportunity to tap into the emotional

play10:51

side of the brain that um where we make

play10:54

uh 50% of our buying decisions so the

play10:57

majority of the buying decisions are

play10:58

driven by emotion first um or through

play11:01

emotion first so we make buying

play11:04

decisions through the emotional part of

play11:06

our brain first so that is

play11:09

logically ironically where our efforts

play11:12

should be if we want buying from

play11:15

customers or investors and it's there's

play11:18

a really fine line and I'll come to this

play11:19

at the end of the slides but there's a

play11:21

really fine line it's it's instead of

play11:23

saying something like we stop waste in

play11:27

the gift buying process you could say

play11:30

every year at Christmas in the UK 400

play11:34

million pounds is spent on gifts that go

play11:37

straight to landfill so that's a real

play11:39

example from a client and um there's a

play11:42

very there's a difference in telling the

play11:45

story of of a problem that's that you're

play11:48

solving and just telling someone what

play11:50

the problem is that you're solving so um

play11:53

instead of saying we stop waste gift

play11:55

waste um you can just tell the story of

play11:59

400 million pounds is spent on gifts

play12:02

every year just at Christmas that is

play12:04

thrown into landfill so um something to

play12:07

think about there and I'll come on to

play12:08

more examples later um the last part is

play12:11

process habit so a lot of why we buy

play12:14

certain things is driven by habit if you

play12:17

already subscribe to certain products

play12:19

and services you're more likely to buy

play12:21

more uh other things that way too so

play12:24

during um the global pandemic I switched

play12:27

a lot of household it cleaning products

play12:30

pet food to subscription and until

play12:33

recently I'm talking three four weeks

play12:36

ago even my car was on a monthly

play12:39

subscription so now we're seeing things

play12:42

like designer fashion re rental and even

play12:45

innovation in like property and housing

play12:46

market where it's traditionally been um

play12:49

especially in the UK you need to buy a

play12:51

house and now we're shifting to more of

play12:53

a rental mindset because we're used to

play12:56

having this kind of recurring

play12:57

subscription so so once we have

play12:59

emotional buyin we're halfway there 50%

play13:03

of our brains are there so if you're

play13:04

targeting the Right audience so um start

play13:08

with a motion you're halfway there and

play13:10

if you're targeting with the the Right

play13:13

audience and their spending or buying

play13:15

habits they should align with your

play13:18

revenue and business model and then all

play13:20

you have to do is a little bit of justif

play13:22

justification a little bit of logic uh

play13:25

behind it and you done so um and I

play13:28

wanted to share a personal example with

play13:29

you so in a conversation with my wife

play13:33

about basically about hiring a

play13:35

cleaner um I know she earns say 50 an

play13:40

hour and a cleaner would be 25 an hour

play13:43

so half of that logically it makes sense

play13:46

to hire one but instead of just saying

play13:49

to my wife it's half of what you earn

play13:51

per hour so let's get a cleaner which

play13:54

wouldn't really tap into the emotional

play13:56

part of her Bier brain instead would

play13:59

just tap the logical part of the brain

play14:02

instead I said to her look every single

play14:07

day you wake up and go about your busy

play14:09

day um fighting to spend time on the

play14:12

most important things that add value to

play14:15

your life only to come back to a messy

play14:18

home and having to do another job before

play14:20

you can enjoy what's left of the day

play14:22

with friends or family or me and imagine

play14:26

every day coming home to a house that's

play14:27

tidy the laundry is done and the places

play14:30

you spend the most time in are

play14:32

hygienically clean you just pay for it

play14:34

as a recurring payment and it's less

play14:35

than you pay for the TV that you never

play14:38

get to watch because you're always

play14:39

cleaning the house and cleaning up after

play14:41

everybody right that that's a much

play14:43

better way to get buying emotionally I'm

play14:46

tapping into I'm telling the story of

play14:48

what she goes through every single day

play14:51

and I'm explaining to her the logic uh

play14:54

behind the buy decision after she's

play14:56

bought into that so

play14:59

sometimes believe it or not the thing

play15:03

that's missing from your pitch isn't

play15:05

what's in the pitch it's just the order

play15:08

you tell the story in and how you tell

play15:10

the story so the order you pitch in can

play15:13

make a massive difference to the result

play15:15

that you get so storytelling I want to

play15:19

make a big Point here your

play15:22

story is your

play15:25

brand um I don't care how anyone wants

play15:27

to Def Define what branding is it all

play15:31

comes from your story every single story

play15:33

that's ever been told creates a a vision

play15:37

in your mind or a um a uh thought or

play15:41

perception in your brain about what is

play15:44

in front of you what you're doing just

play15:48

put the ls back on um so um it tells a

play15:52

story so your story is your brand and

play15:56

everything that is part of your brand

play15:58

including all the traditional things

play16:00

vision mission values uh marketing

play16:03

messages all comes from your story if

play16:07

you really understand how to tell it so

play16:10

I want to share an example that happened

play16:12

um very recently over the last couple of

play16:13

years from Airbnb an incredible

play16:17

story um in itself in the market so

play16:20

during coid um Airbnb lost about 85% of

play16:24

their business overnight it completely

play16:27

stoed their IPO where they were valued

play16:29

at I think it was between about 70 and

play16:31

80 billion as a valuation Brian chesky

play16:35

decided to cut their marketing budget in

play16:37

half so you know they lost most of their

play16:39

business so they had to do something

play16:40

pretty drastic so they cut 50% of their

play16:43

marketing budget completely gone forever

play16:46

and instead of buying customers which is

play16:49

traditionally what they were doing where

play16:51

they would spend on PPC ads Google ads

play16:54

Facebook ads things like that they cut

play16:57

buying customers

play16:59

completely and they moved to

play17:01

storytelling brand building if you like

play17:05

and a short while after they switched to

play17:08

that uh by a short while I mean you know

play17:10

a couple of years they ipoed at over 108

play17:15

billion it added um just their shift

play17:18

from buying customers you know dollar

play17:20

for dollar um and switching to a

play17:23

brandbuilding storytelling style of

play17:26

marketing added 20 % to their valuation

play17:29

around 20% to their valuation so one one

play17:33

point I do want to make on this is

play17:34

Airbnb are a unique Beast as is Brian

play17:38

chesky as an incredible human being and

play17:41

founder um but what worked for them then

play17:46

is still working now and I'm seeing this

play17:49

every

play17:50

day Airbnb no longer tell people about

play17:53

booking a house rather than a hotel

play17:55

which is their kind of initial messaging

play17:57

they talk about experience

play17:59

they talk about treating somewhere like

play18:01

a home even if it's just for a night

play18:04

they became

play18:06

storytellers so the biggest mistake

play18:09

Founders make when adding narrative um

play18:12

to their pitch is really obvious to me

play18:14

but may not be obvious to you and it's

play18:17

this we've historically been led to

play18:19

believe that our Brand Story is our

play18:22

origin story and it's not your brand

play18:26

story is not the story of you as a found

play18:28

and where you came up with your idea and

play18:30

how you took it to

play18:32

Market your brand story is a narrative

play18:36

that puts your customers or investors at

play18:39

the heart of the story it tells a story

play18:42

with them as the hero and not you or

play18:45

your company and in telling that story

play18:49

you invite the customer or the investor

play18:52

into a story they see themselves

play18:55

becoming a part of so that's a big thing

play18:58

that I want you to take away so how how

play19:01

do you create a compelling story for

play19:03

your pitch I wanted to make sure that I

play19:05

give you something really practical and

play19:07

something that you can use right now so

play19:09

I'm going to tell I'm going to run

play19:10

through how to tell your story I'm going

play19:12

to do it really quickly and then you can

play19:14

go back over this in the replay um and

play19:16

then I want to start Q&A so number one

play19:19

talk about the problem and solution in

play19:21

real world application it's amazing how

play19:24

many Founders I here pitch and I have

play19:27

very little idea what they do until I

play19:30

ask them where their idea came from and

play19:33

all of a sudden they tell me the real

play19:34

world application or applied story about

play19:37

how they found the problem and how

play19:38

they're solving it and and in a way that

play19:41

I can visualize it in my own life so um

play19:45

a really quick story I can't I can't say

play19:47

who it is because um it's kind of a live

play19:49

story or live thing that's going on but

play19:52

uh someone I was sitting in office hours

play19:54

with a founder and he was telling me

play19:56

about his product and how amazing it is

play19:58

and you know the technology involved and

play20:00

how it's going to change the world and

play20:02

all this stuff and I was like it sounds

play20:05

amazing but I don't know what it is I

play20:07

don't know what you're talking about um

play20:10

and I said tell me where the idea came

play20:13

from and all of a sudden he told me this

play20:15

story about um about him getting up in

play20:18

the morning and the things he did and

play20:21

that like the real world way in which

play20:23

that it fits into his day-to-day life

play20:26

and all of a sudden I was like yeah

play20:27

that's me I know exactly what you're

play20:30

talking about and and I connected with

play20:32

it straight away so try and tell talk

play20:35

about the problem and the solution in

play20:37

its real world application how does this

play20:40

apply to my life and you'll be on your

play20:42

way to telling a really compelling Story

play20:44

number two consider two ordinary worlds

play20:47

so this is a really easy way to kind of

play20:50

map out how this is going to solve the

play20:52

problem and one is I want you to write

play20:55

down just just write a little story

play20:57

about um the a day in the life of the

play21:00

person how their life is now so their

play21:03

Ordinary World right now and then do it

play21:06

again so you can even do it down the

play21:07

middle of an A4 piece of paper if you

play21:09

want to write down how it is now and

play21:11

then the other side uh write down the

play21:13

same story but with your product or

play21:16

solution in it and it will give you a

play21:19

very clear black and white this is

play21:20

what's going on and actually sometimes I

play21:23

see these after stories or like how it

play21:27

is now and after stories at the

play21:29

beginning of a pitch and they are

play21:31

amazing they're a great way to get

play21:34

people B in really really quickly so we

play21:37

can rarely change the habits and

play21:39

behaviors of the masses um people rarely

play21:43

do it no matter what the stories you

play21:45

hear are so if you can tell a story that

play21:49

feels

play21:51

familiar you're more likely to engage

play21:54

people um and the great way I found to

play21:56

brainstorm this is through this it's

play21:58

it's through ordin two ordinary worlds

play22:00

one of how it is now and one after

play22:02

you've solved the problem so here's the

play22:04

really black and white thing here's the

play22:05

storytelling blueprint and this comes

play22:08

from a Hollywood storytelling thing so

play22:10

you you would have seen you would get

play22:12

the sense that this is what happens in

play22:14

movies so the Hollywood storytelling

play22:17

blueprint is a hero wants something and

play22:19

they encoun encounter a problem they

play22:22

meet a guide who gives them a process

play22:24

and calls them to action that leads to

play22:26

success and helps them avoid failure

play22:28

that's basically the long and the short

play22:30

of it and I'm just going to run through

play22:31

each section now with you so and again

play22:34

go back rewatch this you know pause it

play22:36

do it properly uh so how to build your

play22:38

startle Brand Story step one what do

play22:40

they

play22:41

want write down what they what your

play22:44

customers want but write it down how

play22:47

they understand it so sometimes we can

play22:50

say oh people need people need this but

play22:54

that's you telling them what they need

play22:57

instead of

play22:58

them telling you what they think they

play23:00

want and there's a very distinct

play23:03

difference between me thinking someone

play23:05

needs something and them thinking they

play23:08

like I just want that like some people

play23:10

are just oh I just wish I had more time

play23:13

but I'm trying to sell them this like

play23:16

crazy detailed widget that makes no

play23:17

sense to them so there's a very distinct

play23:20

difference between what people want and

play23:23

what you need to teach them they need uh

play23:26

so that's first what do they want

play23:28

what's their problem um and most people

play23:31

have two types of problems one is the

play23:32

external problem which is how they see

play23:34

it and the internal problem is how it

play23:37

makes them feel uh remember this is all

play23:39

about emotion so we want to understand

play23:41

that emotion what is their problem

play23:43

external and

play23:45

internal why you now this is the only

play23:48

part in this whole story process where

play23:51

you get to talk about yourself and the

play23:53

only things you get to talk about is

play23:54

empathy

play23:56

so uh

play23:58

why um so have you experienced this

play24:01

problem

play24:02

yourself if yes great tell them about it

play24:05

if not uh how many people have you spoke

play24:09

to or met that have encountered this

play24:11

problem and share their story instead

play24:13

that's empathy number two is Authority

play24:16

why should I listen to you why should

play24:18

you be the person to solve this problem

play24:20

over anyone else that's Authority next

play24:24

um how do you solve the problem give a

play24:26

really clear process

play24:28

if one thing has become clear to me over

play24:30

the years it's that people will go and

play24:33

buy off my competitor if they

play24:34

communicate clearer even if their

play24:36

product is terrible if they communicate

play24:39

clearer than I do people will go and buy

play24:41

from them because our brains are

play24:43

attracted to Clarity and we're looking

play24:45

for Simplicity and Clarity all the time

play24:48

so if someone gives a simple clear offer

play24:50

uh even if it's a terrible product

play24:52

people are going to buy it over buying

play24:53

from me so how do you solve the problem

play24:56

simplify the process three or four steps

play24:59

maximum um and make it really easy to

play25:01

understand like what do you need to do

play25:02

you need to buy the product you need to

play25:04

you need to send us the results we need

play25:07

to send you a report whatever it is um

play25:10

five the successful outcomes so whatever

play25:14

the outcomes of them using your product

play25:16

is um they need to understand that so

play25:18

what are the results and then finally

play25:21

what failure does it help me avoid these

play25:24

two last points are are very important

play25:27

and I'll tell you

play25:28

we will we can be given all the benefits

play25:32

and and uh features in the world to buy

play25:34

a product but until we know the

play25:36

consequence of not buying it we won't

play25:38

buy it so you can give me all the deals

play25:41

forever you give me the best phone deal

play25:43

I don't know mobile phone contract deals

play25:46

or whatever but uh unless you tell me

play25:49

that if you don't if you don't switch to

play25:52

this new contract you're going to pay

play25:53

more or whatever the the um the downside

play25:57

is unless unless you articulate that to

play25:59

me my brain isn't really going to

play26:01

understand the full extent of the offer

play26:03

so make sure you include the failures

play26:07

that your um that your product or or

play26:09

service helps them to avoid that's a

play26:12

really really important step and finally

play26:14

if you can articulate a personal

play26:17

transformation um then that's great it's

play26:20

just a really nice way to um to

play26:23

articulate uh who they become or what

play26:26

they become in the process

play26:28

of buying from you so um and the way

play26:31

that you do this is you know just to

play26:33

brainstorm and play around with who do

play26:35

they who do they come from being and

play26:39

what do they become in the process uh

play26:41

and give it a name give it a label uh do

play26:44

they become a an authentic self or do

play26:48

they become a uh a productive genius or

play26:53

you know whatever it is give it a label

play26:55

a really succinct couple of words label

play26:58

um it just helps people recognize

play27:00

themselves and become part of a tribe

play27:02

and a community so how do you use this

play27:06

right now you've got your story how do

play27:08

you use it I'm going to tell you one

play27:12

thing to go and change if anyone is uh

play27:16

on this event um and you're thinking

play27:19

this is great but you know this is going

play27:21

to take a while for me to sit down and

play27:23

and go go and create a story or whatever

play27:26

go use chat GPT or whatever want to do

play27:29

um that's going to take some time I'm

play27:32

going to tell you one way that you can

play27:34

use right this second and I will

play27:37

guarantee personally that it will make a

play27:39

difference to the

play27:42

uh it'll make a difference to the amount

play27:45

of people that care about what you're

play27:47

doing the amount of customers or

play27:48

investors you have

play27:51

interested that is

play27:54

this go to your website your material

play27:57

your deck your slides your pitch

play27:59

whatever and change any sentence that is

play28:03

a we sentence so it has we or I at the

play28:06

beginning of it like we are we are

play28:10

creating whatever it is and I want you

play28:12

to change it to a you or your sentence

play28:16

now what I mean by that is it doesn't

play28:17

necessarily have to start with you or

play28:18

your but it has to um the perspective

play28:22

needs to change from we it's all about

play28:24

me and we to this is all about you and I

play28:27

care about you and I care about the

play28:28

result and I'm going to give you some

play28:30

examples number one instead of saying

play28:33

we're changing health care so you can

play28:36

get the care you need when you need it

play28:39

just say the care you need when you need

play28:42

it and that it's such a simple like the

play28:47

line is so

play28:49

thin you wouldn't even you wouldn't even

play28:51

recognize it so and um you know I've

play28:55

been talking about Neuroscience in the

play28:57

brain so so let me just um let me fit

play28:59

this in with that when you do this so

play29:03

when someone goes to a and it says we

play29:05

have we are an award-winning healthc

play29:07

care provider our brains switch off our

play29:11

subconscious brain switches off and it

play29:13

says this isn't about me and you click

play29:15

the back button but when you go to a

play29:18

website or you see a message and it says

play29:20

the care you need when you need it our

play29:23

brains go oh this is about me and you

play29:25

scroll and that's a really simple

play29:28

example of just changing how you say

play29:31

something it's a very very simple simple

play29:33

tweak um that changes how people receive

play29:36

the messages and which is why I say a

play29:39

compelling story for your pitch because

play29:41

you're essentially saying the same thing

play29:44

but just by that tiny little tweak you

play29:46

make it more compelling to the person

play29:48

reading another example experts in Block

play29:51

Chain to help you control your identity

play29:53

with just your phone it says what they

play29:56

do but um it's all about them they're

play29:59

experts you know we're great at this

play30:01

instead just say your identity is yours

play30:05

control it just just with your phone um

play30:09

it it switches the receiving end to be

play30:12

about me and not about the company

play30:14

another one we have 15 years experience

play30:18

in building no code solutions for

play30:22

AI build an app in a day no developers

play30:25

or designers need it this is so simple

play30:28

instead of it being we're amazing

play30:31

because we've made this no code solution

play30:34

incredible instead the person reading is

play30:37

receiving it as I can build an app in a

play30:39

day and I don't even need to hire a

play30:40

developer or a designer so just a couple

play30:43

of examples so go to your landing page

play30:47

your slide decks your pictures and

play30:50

change those sentences change the way

play30:53

that you're communicating to instead of

play30:55

talking about you and your business

play30:57

business there's a time and place for it

play30:59

granted um but instead of talking about

play31:01

you and your business you're you're

play31:03

inviting people into a story they want

play31:06

to become part

play31:08

of and that's me please do um connect

play31:11

with me on LinkedIn happy to take

play31:13

questions and uh yeah very much looking

play31:16

forward to engaging with all of you from

play31:19

all over the place today uh in the

play31:26

room

play31:29

Daniel uh Danny if you can see your

play31:32

screen you're getting a ton of love I

play31:34

think it's pretty obvious that folks

play31:36

loved it uh thank you so much for that

play31:39

very practical and very insightful

play31:42

presentation and I don't know if you can

play31:45

see the Q&A section but we have a ton of

play31:47

questions here for you but I do want to

play31:49

kind of kick off with the question of my

play31:51

own and this is something that um I

play31:54

think a lot of really early stage

play31:55

Founders Wonder uh let's assume you know

play31:58

I'm a startup founder I have a ton of

play32:01

work to do because I don't have a

play32:02

co-founder I'm still kind of building

play32:04

out my product I'm still uh researching

play32:07

my target audience is it too early for

play32:10

me to start working on my brand or

play32:12

should I be focusing on acquiring

play32:14

customers like what's the balance or is

play32:17

there no balance you know yeah that's a

play32:19

great question Daniel so the the

play32:22

conversation I think I have most often

play32:24

with Founders is that branding is often

play32:28

viewed as an exercise and um and it's a

play32:32

it's a huge mistake because what happens

play32:35

is if you if you treat it as an exercise

play32:38

it only happens Ever every so often and

play32:40

it becomes laborious long- winded um

play32:44

expensive you know even if you go from

play32:48

using a freelancer or you get someone in

play32:50

for equity and then you maybe go to an

play32:52

agency further down the line and pay a

play32:54

little bit more and get the quality and

play32:56

what have you

play32:57

um it's it's still a mistake here's how

play33:00

I think about it you should treat your

play33:02

brand the same way as you treat your

play33:05

product which

play33:07

means get started early I'm a big

play33:10

believer in branding from day one if you

play33:13

really understand it so do this really

play33:16

early on and it will it will Empower

play33:20

every single thing you do so if you do

play33:24

this if you understand your story early

play33:26

on if you understand your brand early on

play33:28

your vision uh what the kind of change

play33:31

you want to see in the world the kind of

play33:32

people you want to hire your story and

play33:35

your brand if you do it properly and you

play33:37

do it from day one is going to help you

play33:39

understand the kind of business you want

play33:41

to build the kind of company you want to

play33:45

exist in the world and the more you

play33:49

understand that the better you can

play33:50

communicate it and the better you can

play33:52

communicate it the faster people will be

play33:55

able to understand and engage with you

play33:58

um which leads to um much much more

play34:01

exponential growth than you would get

play34:03

without it so yeah it's it's something

play34:06

that I believe you should do early on

play34:07

and iterate often so include it in your

play34:10

Sprints even if you want to put it that

play34:13

way if you're iterating on a product

play34:15

every week or every fortnite as part of

play34:17

your Sprints you should also be um

play34:19

discussing your brand and how that

play34:21

should evolve and how that should change

play34:23

and how you should explain something or

play34:25

um uh

play34:27

or communicate something to investors

play34:30

stakeholders outside world customers

play34:32

whoever it is um it's a hum it's a huge

play34:35

part of building a business I think is

play34:38

often um

play34:41

misinterpreted and just to kind of add

play34:43

to this from a very practical sense what

play34:46

are some of those really important brand

play34:49

elements that I need to be aware of

play34:52

right like I do understand there's the

play34:54

message and there's the copy right that

play34:56

I might add to my landing page but what

play34:58

are some of those other things that I

play35:00

need to kind of really

play35:02

tune the um the very high level

play35:05

strategic elements of branding things

play35:08

like mission and vision purpose or why

play35:11

if you if you want to go that far um are

play35:13

all very very important so I would add

play35:16

those what I find often is people

play35:20

misinterpret those branding elements to

play35:23

be external things so I need to tell

play35:26

everyone about my vision or or I need to

play35:29

um make sure people know what our values

play35:31

are when really you don't need to do

play35:33

that at your stage what you do need to

play35:36

use them for though is an internal tool

play35:39

for Direction so you want to start

play35:43

working on what your what you see the

play35:45

change becoming in the world because of

play35:46

what you do so you want to work on the

play35:48

vision you want to start um

play35:51

interrogating your values and if your

play35:54

personal values are going to filter to

play35:56

the company

play35:57

or whether you're um whether you want to

play36:00

you're willing to um uh maybe put them

play36:04

you know one of yours aside because of

play36:06

what you believe it should be for the

play36:08

business and you know all those I think

play36:10

they're very important because they will

play36:11

shape how the company grows um going

play36:15

back to Airbnb Brian chesky gives a

play36:17

really good example sometimes where he

play36:19

says it's really difficult if you've

play36:20

built the company from the ground up to

play36:24

then get someone else to helicopter in

play36:28

the to the summit and run the company

play36:30

when they haven't seen that journey and

play36:32

I thought that was a great example and a

play36:35

great um analogy to use because um that

play36:38

is often what happens with a brand you

play36:41

know a the founder doesn't do a brand

play36:43

from day one and it doesn't build and

play36:45

instead um gets to the top or gets

play36:48

funding or whatever that means for them

play36:50

and all of a sudden decide oh we we

play36:52

should spend a bit of money on the

play36:53

brands now and then it's a whole like

play36:55

you got to break the business apart just

play36:58

to put it back together again to figure

play37:00

out what the values are in the brand so

play37:02

doing these things like values uh

play37:05

mission and vision story is really

play37:07

important not just for customers and

play37:10

investors but internally as well you

play37:12

know who who do you think you're going

play37:13

to hire where do they come from what's

play37:15

their background and and who do you want

play37:18

included in this in this journey that

play37:20

you're going on I

play37:22

guess awesome so there you have it folks

play37:25

brand from day one

play37:27

awesome so we let's go to um some of our

play37:30

audience questions here and we have this

play37:32

really great one from Emmanuel he asks

play37:34

how can I build a story if I'm not

play37:36

directly implicated in the problem or

play37:40

solution yeah it's great question

play37:42

Emanuel so

play37:46

um you you can build a story of a

play37:51

customer um because they will understand

play37:54

the problem and the solution um so what

play37:57

you're trying to do really is you you've

play37:59

got to be much more curious about the

play38:02

problem solution uh potential

play38:05

customers um and who they are to to

play38:09

build that story you you essentially you

play38:12

have to build from you you can't go off

play38:15

assumptions you know if it's your

play38:17

problem what I find so what I find a lot

play38:20

of people Founders um say is you know

play38:24

this is my problem so it must be a huge

play38:26

problem when actually that's not true

play38:29

sometimes just because we've had a

play38:30

problem we still need to validate that

play38:32

that is a big enough problem for you to

play38:34

solve in the market whereas if you

play38:36

haven't been part of the problem then uh

play38:39

you can't make those assumptions you

play38:41

have to go and learn and be curious and

play38:44

uh and learn from the customer so it

play38:46

very much as part of the validation or

play38:48

um the customer research process you

play38:52

have to go to them and learn everything

play38:53

you can um and not rely on your own

play38:57

assumptions at all I hope that answers

play38:59

your question a

play39:01

moment awesome so just kind of um

play39:04

staying on the storytelling um bit right

play39:07

now we have this question which asks

play39:10

what are your top tips for

play39:11

differentiating your brand with a

play39:13

competitor just to kind of uh change

play39:16

this question up a little bit right

play39:18

assuming you're in a category where you

play39:20

have a lot of similar options right so

play39:24

how do you tell a story

play39:27

that might be different even though your

play39:28

customers might have the same problem

play39:31

right how do you stand out yeah exactly

play39:33

so this is um this is quite difficult

play39:37

thank you parck by the way um par in um

play39:39

the FI London fall uh cohort

play39:43

um thank you for the question so this is

play39:47

quite difficult and it will take some

play39:50

iteration uh so that's the first thing I

play39:52

will say but if you're essentially you

play39:55

know there's there's people people in

play39:56

the same category as you they're solving

play39:58

the same problem they might have the

play40:00

same customers as you so that's the

play40:02

first thing to figure out are you going

play40:04

after the same target

play40:06

market

play40:08

um if you are uh what's great about that

play40:13

is that someone else is doing some of

play40:15

the work for you you just have to find a

play40:18

differentiation Point whatever that may

play40:20

be

play40:22

um and sometimes that's just down to

play40:26

your your Brand's personality or how

play40:29

that develops so um and I've been trying

play40:32

to think of a good example of this

play40:35

um there's there's a there's a internet

play40:38

service provider in the UK called cooku

play40:42

Broadband they're basically BT affiliate

play40:45

British Telecom Affiliated so they use

play40:47

the same lines the same equipment

play40:49

they're just a service provider so

play40:51

they're just a brand on top of a service

play40:53

that's already being provided elsewhere

play40:55

but the reason that they are um picking

play40:58

up some traction is because number one

play41:01

their offer is very slightly different

play41:04

they spotted a gap in the market for no

play41:07

contract so just a monthly rolling

play41:09

contract so that's kind of part of

play41:10

product but their brand is quite quirky

play41:13

and fun uh they're basically like the um

play41:19

consumer brand version of dad jokes

play41:21

because everything they talk about is

play41:24

about eggs and chickens and you know if

play41:27

they uh if you have to refresh something

play41:29

they talk about the chicken and egg and

play41:31

um so it's in their language so what I

play41:34

think what I'm trying to to get out

play41:36

parck is um if your problem and solution

play41:41

is the same and you're trying to

play41:43

differentiate from competitors you can

play41:46

only really do that through your Brand's

play41:48

personality your Brand's voice and by

play41:51

essentially developing it as a as a as a

play41:54

personality so not just in how you look

play41:57

but how you sound and the words you say

play41:59

and the phrases you say and you know

play42:01

have a bank of things that you might say

play42:03

there was um some of you will be will

play42:06

recognize tide as a bank when they first

play42:08

started they weren't actually a bank

play42:10

they were just a ring fenced Barkley's

play42:13

account um with um debit cards basically

play42:17

they had this brilliant campaign for

play42:19

businesses which was to give out

play42:20

stickers and things and it was like I

play42:23

love doing paperwork and then it had a

play42:25

little line underneath that said said no

play42:28

business owner ever or something like

play42:30

that and they they essentially create

play42:33

created or grew their brand off that

play42:35

because they had a unique personality

play42:37

even though they were doing the same as

play42:38

a lot of other um competitors so yeah

play42:41

it's it's all in how you use your brand

play42:45

Brand's personality not just the the USP

play42:49

or the problem or solution um that makes

play42:52

sense

play42:53

P awesome I hope that answers your

play42:56

question paric so we have this question

play42:59

here from Parnell Parnell asks you

play43:02

mentioned winning customers investors

play43:04

with only a proof of concept uh no

play43:06

tangible service or product yet can you

play43:09

walk us through what they call selling

play43:12

or storytelling on the come right uh I

play43:16

I'm a little confused with the end of

play43:18

the question here but I think what

play43:19

they're trying to say here is how do you

play43:23

shape your story for you know a proof of

play43:27

concept right how do you tell that

play43:31

story

play43:33

so proof of concepts are actually great

play43:36

the selling point of this was that I

play43:38

didn't have a product I was essentially

play43:41

trying to solve my own problem um so and

play43:45

I'll tell you a little bit about this

play43:47

so previous to me being in branding and

play43:50

design becoming a designer I was in

play43:51

financial services for 10 years I

play43:54

started off in private medical insurance

play43:55

in the UK and then um grew a a broker

play43:59

essentially so an insurance broker and

play44:03

eventually we both got qualified and

play44:05

started doing mortgages so we would do

play44:06

mortgages for houses um in the

play44:10

UK I think it was almost immediately

play44:14

when I entered the mortgage industry I

play44:16

had been in insurance for so long where

play44:19

everything was online and it was really

play44:21

easy to do an application and uh there

play44:23

was no paperwork involved and then I Ed

play44:26

mortgages and it was the opposite it was

play44:28

like traveling for hours I had to

play44:30

because of the the regulation we had to

play44:32

sit face to face with a client uh and

play44:35

then I had to travel home and I had to

play44:36

do the research present a

play44:39

recommendation um the whole process from

play44:42

start to finish took anywhere from 10 to

play44:45

15 hours per client before I even knew

play44:49

whether I was going to get paid or not

play44:51

and if they failed the application I'd

play44:53

have to start all over again now um I

play44:57

could see that there was probably four

play45:00

or five off-the-shelf softwares that I

play45:03

could either get for free or by paying

play45:05

20 $30 a month that if I could just link

play45:09

them um through apis is what we

play45:13

understand them as now but if I could

play45:15

just link them in some way and make them

play45:16

work together

play45:18

autonomously I could make this process

play45:21

an less than an hour um and that's what

play45:24

I did I went and got off the shelf

play45:26

software I put together the proof of

play45:28

concept I used zapia to basically link

play45:31

them and essentially started generating

play45:34

business for my own mortgage broker

play45:36

business with this proof of concept um

play45:39

the story I told you was just then was

play45:43

the exact same story I put on LinkedIn

play45:47

uh that I told people at networking

play45:49

events that I uh told people at industry

play45:53

Awards and peer reviews and um regulator

play45:57

meetings and all the rest of it um and

play46:00

it was through that that I started to

play46:02

gain traction and and interest from um

play46:05

from not only people in the industry but

play46:08

investors as well so I've got time

play46:10

timing lights in here have to tell to

play46:13

turn on every now and again um and um

play46:17

yeah that's that's the exact same story

play46:19

that I told them at the time it was I've

play46:21

got this problem and I needed to solve

play46:23

it uh I don't have the resources to go

play46:27

and build this but I've kind of built it

play46:30

with off the shelf software and uh so I

play46:34

met with a few investors and eventually

play46:35

they said we didn't realize at the time

play46:38

that this wasn't a product we we thought

play46:41

it was already built and I said no and

play46:43

they said well we can't we can't invest

play46:45

in something that isn't built yet and I

play46:47

was like that's very strange I Now

play46:50

understand that as ridiculous because

play46:52

people invest in things that aren't

play46:53

products all the time um so that didn't

play46:56

happen but one company did say yeah we

play46:58

don't care come build it for us uh and

play47:00

that's what

play47:01

happened um uh but yeah so hopefully

play47:05

that answers your question but um you

play47:08

the the benefit of it being a proof of

play47:12

concept concept and not a product is I

play47:14

have nothing to show I have to tell you

play47:17

the story of what my problem is and how

play47:19

we're going to solve

play47:23

it awesome so what I really like about

play47:27

your example there is I think it also

play47:29

shows how Scrappy you are as a Founder

play47:32

right Scrappy and resilient and just uh

play47:35

Innovative and creative if that makes

play47:37

sense and I think if you're talking to

play47:39

an investor

play47:40

particularly in this environment right

play47:44

where it's kind of tough uh for you know

play47:47

very early proof of concept stage

play47:50

startups to raise funds I think that's a

play47:52

good side because essentially everybody

play47:55

kind of knows right investors invest in

play47:57

people not necessarily just the idea or

play47:59

the

play48:01

product yeah exactly yeah I think they

play48:04

knew that this was going

play48:06

to uh my thing anyway I think they knew

play48:09

that this was going to change or pivot

play48:11

or have to be tailored uh in some way or

play48:15

um targeted in some way and it did

play48:19

eventually eventually um had to be

play48:21

tailored for what we call in the UK the

play48:24

shared ownership Market or the

play48:25

affordable housing market which is a

play48:28

very strange long process if you want to

play48:31

buy a house um uh so yeah this this was

play48:35

a great solution for that so it ended up

play48:37

pivoting and being a very simple and

play48:39

straightforward solution for a really

play48:41

complex

play48:43

problem awesome awesome so we have a

play48:46

pretty interesting question here from

play48:47

Noah Noah asked if my solution answers

play48:50

different pain points uh for different

play48:53

Persona should I be telling multiple

play48:54

stories or should should I just focus on

play48:56

one lead

play48:58

story great question uh no I think it is

play49:02

um it's a great question Noah so the

play49:05

context of in which that I teach people

play49:08

to tell stories and and walk people

play49:10

through telling brand stor specifically

play49:14

um the context of that is usually in

play49:17

something like this like a presentation

play49:19

or a talk or something and I can never

play49:22

get as much detail uh as is required to

play49:25

do something um to tell a larger story

play49:30

or context behind a something like this

play49:33

so it's a great question to ask the

play49:35

short answer

play49:36

is a little bit like a Hollywood movie

play49:40

you have the movie you also have scenes

play49:45

you also have characters and essentially

play49:47

what you want to do is you want to build

play49:49

up the story with all of those different

play49:52

elements as you get in a movie so you

play49:54

want to

play49:56

understand the characters personas in

play49:58

this case right you want to understand

play49:59

what their pain points are how they

play50:01

differ um and then later on you might

play50:04

want to understand what their

play50:05

relationship is to each other do they

play50:07

ever see each other do they not do they

play50:09

ever cross paths it's really interesting

play50:12

as a a slightly strange example of this

play50:15

is if you ever see two people walking

play50:17

down the street with sunglasses on and

play50:20

one is unbranded from a supermarket that

play50:23

maybe cost $25

play50:26

and one is a

play50:27

$780 pair of uh Prada sunglasses or

play50:31

whatever um what you'll find is that

play50:35

they're from the same Factory and

play50:38

they're the same model just one has a

play50:40

logo on it and one doesn't but it

play50:42

doesn't matter because those two people

play50:44

will never cross paths or very rarely

play50:46

cross paths right they're not going to

play50:47

bump in they're not going to be friends

play50:48

that are going to go oh where did you

play50:49

get them sunglasses and got mine from

play50:51

Prada or got mine from the supermarket

play50:53

or what they're just not not going to

play50:54

happen but understand in the that

play50:57

context in a story is actually quite

play51:00

important because it might affect

play51:01

something further down the line so um in

play51:04

the short answer to your question is

play51:05

that think about it like a movie and

play51:08

have the scenes and the chapters and the

play51:11

characters outlined as a whole and then

play51:14

yes if you have multiple personas that

play51:16

you're solving that problem for then um

play51:19

then outline those as well because your

play51:21

solution might affect them differently

play51:23

and it might actually affect your

play51:24

customer Journey down theone when you're

play51:26

doing product development or building

play51:30

something awesome I love that answer

play51:32

it's kind of like a movie right I love

play51:35

that uh okay so we have a question from

play51:40

AA uh she has two questions here but

play51:43

because we're kind of short on time and

play51:45

uh unfortunately so we'll just kind of

play51:47

look at the second question which I

play51:49

thought was super interesting uh are you

play51:51

required to create a story for both your

play51:54

customers as well as investors uh how do

play51:57

these stories

play51:59

differ great question um either or and

play52:04

both is the short answer but um

play52:08

so I I think first of all you want to

play52:12

have the customer story and the reason

play52:15

for that is that even if you're talking

play52:16

to an investor they are going to want to

play52:19

see that you've thought deeply about the

play52:21

problem that you're solving and that

play52:23

you've either gained traction or you've

play52:24

got good understanding of it um from

play52:27

their point of view so I would do the

play52:29

customer story first if you are

play52:31

targeting investors and that there's

play52:35

quite a

play52:36

big um Trend I guess you could call it

play52:39

at the minute about people trying to

play52:41

find sector specific investors because

play52:44

that's not always the case but um people

play52:47

may be

play52:48

finding

play52:49

um like impact investors is a really

play52:52

good example actually so if you only

play52:55

want investment from good money that

play52:58

comes from a good place and they don't

play52:59

invest in oil or you know whatever it

play53:01

might be um then um it becomes really

play53:06

beneficial to do a investor story as

play53:08

well because as well as letting them

play53:10

know that you understand the customer

play53:12

deeply you're also telling them a comp

play53:14

compelling story about them becoming

play53:17

part of something bigger than that a lot

play53:19

of impact investors in this example want

play53:22

to drive change so they want to become

play53:24

part of it they want to shout about it

play53:26

and they want to tell people that

play53:27

they've invested in this company because

play53:28

they're doing good things um so yes I I

play53:32

would do customer story first uh it

play53:34

would help you understand your customers

play53:36

as well as investors and then in

play53:38

investor story as well um and and just

play53:41

like the last question they should form

play53:43

the overall movie if you like a movie

play53:46

script or the overall story as part of

play53:48

that and actually going back to the last

play53:51

question and very relevant to this you

play53:53

know um the analogy for what I'm saying

play53:56

about uh characters crossing over is

play53:59

like superhero movies you have

play54:01

Spider-Man and then you have you know uh

play54:04

Iron Man or whatever and then all of a

play54:05

sudden they're in the they're in the

play54:06

same movie and then someone else comes

play54:08

Captain America's there and Fantastic 4

play54:10

or what have you um you know that's

play54:13

that's still a movie script and the

play54:16

you've understood previously like movies

play54:20

ago um if they're going to cross paths

play54:22

or you know if that's going to happen or

play54:24

not um yeah anyway I go what I

play54:29

digress awesome so okay uh unfortunately

play54:33

we are really short on time here so what

play54:34

we'll do is we'll take one more question

play54:36

before we jump into our networking so we

play54:40

have this question from Melena and she

play54:43

asks is it is it good if all founders

play54:45

follow the same pattern of Storytelling

play54:48

or is it better apologies for the noise

play54:51

at the back

play54:52

fireworks uh sorry guys uh yeah so the

play54:56

question is is it good if all founders

play54:58

follow the same pattern of Storytelling

play55:00

or is it better if you differentiate

play55:03

right um they believe that you know it's

play55:06

always good to be unique or you know

play55:08

what's your perspective on this is there

play55:09

a framework that you should follow or

play55:11

should you kind of look to do your own

play55:13

thing with this yeah so um yeah great

play55:17

question Melena so um and

play55:20

hello uh yeah look everyone everyone can

play55:24

use a story framework um the thing

play55:27

that's going to differentiate you a

play55:28

little bit like the Park's question is

play55:31

your your Brand's personality and how

play55:33

you communicate it the storytelling

play55:35

framework isn't isn't the issue itself

play55:39

um it is how you tell the story um and

play55:43

just understanding what your what Your

play55:46

what your personality is and your tone

play55:47

of voice and how you want to get that

play55:49

across um is what's going to

play55:51

differentiate so everyone can use this

play55:54

framework work it's why it works it's

play55:56

why the others work the problem solution

play55:58

framework the team framework traction

play56:00

Etc it's why they all work it's just

play56:03

sometimes the order in which we tell the

play56:05

story in or or the order in which we

play56:07

pitch in is the only thing missing from

play56:09

making this an emotional buy and first

play56:11

and a logical later um instead of what

play56:13

it currently is which is I'm the founder

play56:16

of this startup and um here's what the

play56:19

problem is and this is how we're trying

play56:20

to solve it which is very logical brain

play56:22

we're just switching it round and we're

play56:24

trying to tell the story from an

play56:25

emotional point of view first to make

play56:27

sure we get Buy in before we tell them

play56:29

why it's a Nob brainer to buy in um with

play56:32

their money um so yeah you can all use

play56:34

the same framework there's an incredible

play56:36

um there's a really good book that tells

play56:38

the process of um Hollywood storytelling

play56:41

specifically in movies and for marketing

play56:44

uh called building a story brand um and

play56:47

I would recommend for anyone to put your

play56:49

headphones in uh go and get the audio

play56:52

book get a piece of paper and spend four

play56:56

hours doing this exercise um it will

play56:59

make a humongous difference and I can

play57:02

tell you that time and time again this

play57:04

has if not doubled tripled uh the amount

play57:08

of traction that you get in terms of the

play57:09

number of users or whatever in a short

play57:11

space of time it's a great

play57:14

investment awesome awesome thank you so

play57:16

much for that answer and believe it or

play57:19

not a ton of people were asking

play57:21

recommendation for books so I feel like

play57:23

you answered that as well uh yes

play57:25

building so it's building a story brand

play57:28

by Donald Miller that's probably the the

play57:32

most marketing Focus that that you can

play57:36

use awesome awesome thank you so much

play57:38

for doing this with us Danny uh we we

play57:43

love the presentation we love the

play57:44

Insight it's always really great to have

play57:46

leaders from the Fi Network join us and

play57:50

kind of share their knowledge with our

play57:52

Global audience it was also really great

play57:54

to have Founders from the FI London

play57:57

program as well so thank you everyone

play57:59

for uh those who attended and yeah

play58:03

before we jump into the networking uh

play58:05

Danny would you maybe share some parting

play58:08

words any message that you want to give

play58:09

the folks

play58:11

here sure um yeah I guess just to

play58:14

encourage you it's it's really easy

play58:17

to um to treat branding as a as a I'll

play58:23

do it one day kind of

play58:25

exercise um and I just want to encourage

play58:28

you that figuring this stuff out really

play58:29

early is a great way not only as a

play58:32

marketing sales branding exercise but

play58:36

actually as a uh as a self exercise um

play58:41

it's amazing how much I've learned about

play58:43

myself by doing the storytelling process

play58:46

um and a branding process and digging

play58:48

into things like values and what I care

play58:50

about in the world and what I want to

play58:51

change in those things um so yeah treat

play58:54

it as um some self-development and and

play58:56

go and dig around a little bit you'd be

play58:57

surprised what you

play58:59

find awesome awesome there you have it

play59:02

folks thank you so much for joining us

play59:04

today uh if you're interested in

play59:06

learning more about fi do visit us at

play59:09

fi. um if you want to attend another

play59:12

event we have um two events a week

play59:16

happening uh so uh head on over to

play59:20

fi. events uh we will now be jumping

play59:24

into the networking portion Danny will

play59:25

be sticking around so you'll see a table

play59:28

with his name on it uh do let him join

play59:30

the table first because I know

play59:33

everybody's really excited to speak to

play59:34

him but yeah so you'll have a chance to

play59:36

talk to Danny I'll be there as well and

play59:39

you'll hopefully be able to meet some

play59:41

really really great Founders from across

play59:42

the world thank you so much for joining

play59:44

us today and I hope you all have an

play59:46

awesome day

play59:51

ahead

Rate This
β˜…
β˜…
β˜…
β˜…
β˜…

5.0 / 5 (0 votes)

Related Tags
BrandStorytellingPitchingTipsInvestorEngagementCustomerConnectionFILondonDannyMatthewsStartupAdviceMarketingStrategyNetworkingEvents