"Tell a great story when pitching”. Really? We hear this a lot as founders but is it true? In my opinion, the answer is yes, and the reasons run far deeper than merely being more entertaining for the listener…
For tens of thousands of years before we learnt to write, we passed down the tribe’s most valuable wisdom to each generation verbally. From the first sounds, words and languages our early ancestors uttered emerged stories; linguistic vehicles forged through the selective rigour of Darwinian time to become the most efficient and effective means of passing down information. Alongside stories evolved storytellers, those members of the tribe with the memory and communication skills to be the custodians and purveyors of the tribe's most valuable knowledge. These were the actors, writers and play-writes of our ancestral past, and the campfire their cinema or theatre.
Successfully transmitting the tribe's knowledge through the generations was central to our survival. Without the wisdom, there could be no training and education of the next generation, no continuity of shared values or beliefs, no shared moral compass. This is why all religious traditions are in story form. The bedrock knowledge of all civilisations evolved from their campfire story origins, told by elders to each generation for millennia before culminating in the literary collections we know today. Stories are as old as we are, and as such they have evolved in lockstep with our evolution as a species.
Humans are, therefore, hardwired to be exquisitely sensitive and receptive to information when it is properly structured and delivered in a compelling story. To be receptive to the elder imparting the wisdom, increased the individual’s chances of survival. It is why we still to this day revere and respond so profoundly to great stories and great storytellers. Boil down the plot of a Harry Potter book or film to 20 facts, then try to get an eight year old to memorise them, they'll run off bored by fact three. Show them the whole story once, however, and they'll remember all 20 plot points, in perfect order, and then rush out to tell their friends how amazing it was. Harry Potter is a once in a generation phenomenon because it tells the story right, and in doing so taps deeply into the ancient, evolved, homo sapien apparatus within every fan.
The elder storyteller had to be able to perform the story as well as create it. Delivering a great story in a dull or un-compelling manner significantly diminishes the transmission of its value to the listener. Tribes with effective storytellers had greater chances of survival than those without. Great storytellers, therefore, commanded automatic respect and status, proportional to their level of competence and it’s why to this day we instinctively admire and are drawn to great actors and directors, and by extension, great presenters and presentations. It’s not merely an objective appreciation. It’s an ancient and evolved response to observing a skill that offers existential value to the tribe.
A founder is the elder storyteller of their tribe. The skill with which they are able to create and communicate their story is central to how the world will connect and resonate with their tribe. If their story, and their delivery, is superior to their competitors, their tribe will win a greater share of the attention and have a higher probability of success. Therefore, investing time and resources to becoming a great communicator and storyteller could not be more valuable to a founder.
Like all skill sets, storytelling and great communication requires learning and practice, which is why all of the leading accelerators and incubators invest heavily in pitch and communication training for their founders. Y Combinator and Founder Institute, for example, include intensive pitch training, leading to higher funding outcomes for graduates compared to industry averages. They cite that enhanced storytelling and communication skills directly improve the perceived credibility of startups by investors. Research from First Round Capital suggests that founders with strong presentation skills were 50% more likely to receive follow-up meetings with investors. Data from Seedcamp revealed that startups receiving intensive pitching training raised 30% more funding on average during seed rounds compared to their uncoached peers; and Techstars Alumni report that coached founders were twice as likely to successfully close funding rounds within six months of the program.
Whether you want to seek professional coaching support or learn ways of improving your communication skills, remember that storytelling is the core craft that needs to be honed. Your company’s history, the idea that triggered it, your strategy, how it’s evolved over time, the obstacles you’ve encountered and how you’ve overcome them, and where you are aiming to be five years from now, IS YOUR STORY. Write it down, play with it and ensure it has a logical and compelling narrative and flow. Invest time in your skills as a presenter. Your voice, your posture, stage craft, audience engagement, your pacing. Practice it often, imagining both large and small audiences, until you can communicate it with mastery to the broad range of professionals who need to hear and be persuaded by it. Remember that you are the lead actor, writer, producer and director of your production. Whether you make it onto Netflix or the silver screen will be in no small part down to the time you invest in your ability to persuade the world that you belong there.
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