I truly believe in the power of storytelling in business. Not many brands are doing it well at the moment but because we are still transitioning into new ways of how we build brands, market and sell our products, there is currently an opportunity for any business to start experimenting with the concept of storytelling. This is something I discussed with Alexis Kingsbury, a serial entrepreneur and the founder of Parentpreneur Accelerator, on his podcast.
Apart from taking you through my 6-step storytelling checklist, which many of you are familiar with, if you’re part of Atelier of Success community, we also talked about how my diagnosis impacted my views on life and how it helped me find my purpose.
Quite unexpectedly, which I think you will find interesting, we also drilled into my failed business and how difficult it was to go through that time emotionally, physically and mentally. I honestly never talked about it before in such detail. As time goes on and you look at such events from a distance you realise that maybe sharing the experience might help someone else. Plus, I also think that entrepreneurship or running your own business is perceived as something anyone can do. How wrong! The pressure in the start-up phase is huge but now, after experiencing pressures along the way and at the end of a business cycle, I can say they are even worse. I haven’t met many people who coped under such conditions well, with a cool head. Sooner or later the pressure gets to everyone. It’s how we react to it is what shape you as a person.
I also wanted to send out a message that it’s okay to close your business. Pride can blind us and can stand in a way of making that hard decision. It’s all in the head. The data and facts are there yet many business owners decide to press on, putting themselves in a much harder position to get out of. Some lose everything. I could see the warming signs and made a conscious decision to jump off the ship before it sank. You’re not a failure, you’re a hero, in my eyes. Because making that decision is not easy, I can tell you that.
The final point we discussed is rooted in one of the biggest lessons I learnt from my failed business – diversifying into different markets through strategic partnerships, where both partners recognise a gap in the market, share the same values and a common goal. Such partnerships only work on having trust in each other and through delegating the workload equally.
The podcast is now live and please listen to it and let me know your thoughts.