“Don’t ever underestimate the power of a story. Even if the story has to do with bacterial infections and chickens,” Josh Muccio, host of The Pitch.
The Pitch from Gimlet Media showcases founders of start-ups as they sell the story of their business to a panel of investors. This podcast illustrates the real-world application of what a good story does for a business.
In this episode, a scientist Amado Guloy is trying to explain how his startup Rex Animal Health combines farm animals and big data. His explanation focused on data, science, and numbers. The investors interjected every few seconds struggling to understand what his business did until he told the following story.
“Rex can reduce the risk of disease, improve the treatment of health problems, and ultimately deliver more animals from farm to table. I’ll just give you a use case of something that we did. There were chickens with a high incidence of really bad bacterial infection. And unfortunately, a lot of the drugs weren’t working because it was an antibiotic-resistant bacteria. So, we took a step back and looked at the data in total. We realised the ones that got an infection, got it through a skin lesion. Long story short, we found out it was genetic and the chickens that got it had that deficiency.”
The investors let out a collective “Ohhhh!” as the light switched on for them. That story explained why Rex exists, what it does, and now they’re ready to do what they do best. Start poking holes in the business.
We like to imagine that investors are only interested in numbers, plain and simple. But they need a short and simple story to give those numbers meaning. A concise story helps create the value of the business, especially if you are looking for investment.
Storytelling is really story-selling. Showing people with a clear story helps your customers, clients and coworkers will understand what you do and why they need it.
Don’t let storytelling be a struggle, join me at General Assembly in Melbourne on March 13th, 2018 to Discover Your Business Narrative.