There’s power in simple stories. Something as inconspicuous as a coffeeshop creating a “third space between work and home” can lead to a hundred billion dollar enterprise. That’s a market cap of one with eleven zeros.

So yeah brand narratives and the way companies tell their stories is important.

Narratives are so powerful in fact that nobel prize winning economist Robert J. Shiller made a case that they influence entire markets in his book Narrative Economics.

But how do brands come up with these stories and how can founders and startups tell their own story.

It starts with the why. Most companies know what they do. Good companies know how they will do it and what their competitive advantage is. The best companies have a good reason as to why they do it.

Elon Musk’s SpaceX is a great example of this. He is able to hire and motivate the most talented individuals because of the greater cause. The narrative of getting to Mars and making the human race an interplanetary species.

But maybe a Mars mission is a bit too ambitious for most founders.

Great narratives for business can include a reason to be, a founders story or a hero’s journey through conflict to success.

Authenticity is key to a story gaining traction and spreading via 3rd parties. That doesn’t mean to say that companies can’t seed their own stories through content marketing and social media.

Brand storytelling builds a brand image inline with the founders vision.

Starbucks makes coffee. They add value by creating a relaxing environment. They do this to give millions of people the option of a 3rd space between the office and home.

Cheers.