Have you ever thought of storytelling as a powerful business tool? In the fast-paced world of tech transfer and startups, it absolutely is. Today's episode dives deep into the importance of storytelling – what it is and how it can be your secret weapon.  

We'll be joined by Otto Pohl, a storytelling guru with a fascinating career path. Otto's a former journalist published in major publications, a seasoned entrepreneur with four startups under his belt, and a communications expert for startups. He now uses his unique blend of skills to help universities translate their groundbreaking research into successful products with real-world impact.

Curious about the magic of storytelling in business? We'll learn how Otto helps tech transfer offices craft compelling narratives that resonate with investors, partners, and anyone who needs to understand the incredible work happening at universities. 

But storytelling isn't just about making things sound good. We'll also explore the line between a captivating pitch and empty promises. Otto will share his insights on the Pohl Pyramid and other powerful tools to ensure your story is not just exciting, but honest and builds genuine interest. 

Get ready to unlock the power of storytelling in your business! We'll discuss Otto's amazing career journey, the science behind why stories resonate, and common mistakes to avoid. This episode is packed with actionable tips and insights you won't want to miss.

In This Episode:

[02:09] Career rewrites and how journalism and entrepreneurship fit into one bucket for Otto. 

[02:43] After college, he moved to Russia to work as a photojournalist. He was a New York Times Bureau photographer. 

[03:17] He also discovered so many business opportunities that he quit his job to found three companies in Moscow.

[03:34] He rotated between entrepreneurship and journalism moving to several different countries.

[04:11] We learn how stories and business meet each other.

[06:21] Storytelling is deeper and bigger and more intertwined with everything we do than most of us realize. It fundamentally creates connections between events.

[07:37] From a business perspective, the story explains why your company has meaning.

[10:54] Storytelling and the startup context or pitching. Where is the line between vision and delusion?

[12:05] When we pitch something it's a story about what we think we can make happen.

[13:11] Lying about what you already have is called fraud.

[13:35] transfer professionals need to figure out what their technology can do in their portfolio and make sure there's a story about how this thing can change the world, but do it in a way that you feel will pan out.

[14:17] Otto breaks down what good storytellers do well.

[15:05] Focus on the why.

[15:31] Otto talks about the Pohl pyramid or multi-layer of why. A good storyteller knows which level of why they want to address.

[16:54] Tech transfer professionals should care about storytelling because it will help them create a better impact.

[19:05] Shining the light on your invention allows the pyramid of benefits to cascade and unfold.

[20:03] Otto shares examples of how finding and telling the right story and why your research matters has helped tech transfer offices. 

[26:46] The story is what makes a new company and its product sparkle.

[27:09] Otto shares how to communicate with different stakeholders. Work from the result backwards.

[29:45] Common mistakes tech transfer offices and early stage startups make with storytelling. The academic mindset and the business mindset aren't always on the same page.

[32:39] Storytelling is still a caveman exercise satisfying fundamental human needs.

[36:08] Storytelling isn't bad, we need to shift to a customer mindset, and embrace business not academic communications.

Resources: 

Otto Pohl

Otto Pohl Core Communications

Otto Pohl LinkedIn

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Promote your TTO more Effectively” – August 13, 2024 – 12 pm EST

Thank you Scorpius BioManufacturing for sponsoring this episode of AUTM on the Air. Learn more at: scorpiusbiologics.com