Storytelling is important to a business

Published: Monday, Sept. 10 2012 7:43 p.m. MDT

4. We need to understand what solutions competitors provide. Time should be spent evaluating what competitors offer and the story they present to buyers. 5. We need to learn who else shares our problems. Finding and understanding targeted customers is critical to success. An entrepreneur should spend most of the day listening to potential customers.

6. We need to develop a vision that is emotional and noteworthy. We need to promote a noble cause. Business builders should ponder what they want to become and how they will solve problems for customers. The key to this exercise is again sharing our story with others to see if it's embraced.

7. We need to provide a grand purpose. We need to know why our company exists. Great companies see service as more important than making money. Savvy leaders view money as a byproduct. As such, we should develop a mission statement on taking care of customers and employees.

8. We should establish core objectives and demand exceptional results from our efforts. Said goals should be perfectly aligned with our purpose and mission.

9. We need to ensure that there are benefits inuring to everyone within our circle of influence: customers, employees, vendors and shareholders. To this end, we should learn what our audience expects from us and deliver it with excellence.

10. Lastly, we need to find ways to connect and bond effectively with our target audience. The best method for accomplishing this objective is to engage directly with customers in a personal way to demonstrate our appreciation and high regard.

What is your story? Please share it with me at www.AlanEHall.com or connect with me at @AskAlanEHall.

Alan E. Hall is a cofounding managing director of Mercato Partners, a regionally focused growth capital investment firm. He founded Grow Utah Ventures, is the founder of MarketStar Corp. and is chairman of the Utah Technology Council.

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