The Power of Storytelling: Trends in Business

From the dawn of mankind, storytelling has been a powerful tool connecting human beings with each other, as well as history documentation. Much of what we know about our past has to do with storytelling.

One of the reasons for this phenomenon is that story can be expressed in a multitude of ways, via art, oral tradition, music, and the written word. Story is what connects us on a human level to each other, to the planet, and to the universe. We have always sought to find meaning, connection, and harmony to our existence and each other.

What does story have to do with business? The short answer is: everything.

Do any amount of research on great businesses and you will find that they all have a great "story" behind them. In fact, in the research itself that we do, we are actually looking for the story of the business. That is what excites us, thrills us, and inspires us the most. Think about it.

This seemingly new phenomenon called "branding" is all about storytelling. Both the founding members as well as the business itself must have a compelling story that brings in customers who relate to the story. A powerful story builds trust. Trust is the key element in long-term business relationships.

This article from Video Industry News talks about storytelling trends in branding.  It does a good job of breaking down that a great story comes across as human, authentic, and personalize the business, which closes the gap between the corporate identity and the human being on the other end.

A fascinating book by Peter Guber called Tell to Win, sheds even more light on the power of story. This brief video wonderfully demonstrates this idea.

"Story isn't the icing on the cake; it's the cake!"

Storytelling is critical for the new world of "relationship marketing." The digital revolution has leveled the playing field by allowing many different types of media content to tell an ongoing story and create not only a one-time experience, but also a long-term relationship with customers.

So, when thinking about your business, think about the story behind your business. Think about your own personal story behind the story of the business. Don't be afraid to be vulnerable and talk about your challenges and how you overcame them. All great stories have a conflict that is ultimately overcome. We all relate to the fool's journey to wisdom.

What is YOUR story? 

Alternative Funding Sources for your Business: The Money Is Out There!

Many people with a fantastic business idea simply cannot get it off the ground due to lack of funding.  However, funds are available in many ways depending on the type of business idea.

Most for-profit businesses start out seeking private investors, small business loans, or even grants. These sources may provide some, but not all of the funding needed.

Additional resources are available for not-for-profit ventures, as well as businesses that somehow help the community in some way. Native Americans have additional funding sources available. This funding for non-profits is well known. However, what about for-profit businesses? Are investors and small business loans the only options? Not necessarily, as for-profit businesses can receive alternate funding if they highlight certain key elements.

Will your business add jobs? Does it serve a certain community? Does it add value to the community in some way? If so, you may be very surprised at how much funding is available, beyond the traditional business loan route.

Some of these resources are listed on fantastic sites like these listed below:
The Opportunity Finance Network
Association For Enterprise Opportunity
Coalition of Community Development Financial Institutions

However, for-profit businesses have challenges getting funding. But it is not impossible, if somehow it can be demonstrated that jobs can be created or somehow the community is served. Find ways to show these particular values in your business plans and presentations, follow whatever guidelines are required for the application process, and you may find yourself getting the crucial funding that you need.

These alternative sources require patience and a substantial amount of research, with no guarantees of success. However, the potential for funding outweighs the time spent. The important thing is never to give up, if you have what you think is a great business idea, for-profit or otherwise. Develop a solid business plan, hone your elevator pitch, and seek out any and all possibilities for making your dream come true.