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- Cutting Through the Noise: How Authentic Storytelling Accelerates Trust in M&A
In the world of mergers and acquisitions, skepticism isn't just common—it's expected. Buyers, whether they are private equity firms or strategic acquirers, have seen it all. They approach every deal with a critical eye, scrutinizing every detail, every financial statement, and every claim made by the seller. It’s their job to be skeptical; after all, they’re investing millions, sometimes billions, and they need to ensure they’re making the right decision. But in a market flooded with data and numbers, how do you differentiate one opportunity from another? How do you cut through the noise to make a buyer stop, think, and say, "This is a business I want to learn more about?" The answer lies in authentic storytelling. At Story on Purpose, we believe that while skepticism in M&A is a given, trust can be built—and built quickly—through the power of a well-crafted story. Our sell-side videos go beyond the financials and the PowerPoint slides. We showcase the heart of the business: the people, the product, and the process. We don't erase skepticism—we embrace it. But we also know that a genuine story can accelerate trust, creating a connection that data alone cannot. When we craft a sell-side video, we ensure that the essence of the business is captured in the best light possible, without embellishment or exaggeration. It’s about honesty, transparency, and showcasing what makes the business truly unique. Whether it’s the innovation behind the product, the passion of the team, or the efficiency of the processes, we highlight what matters most to the ideal buyer. This storytelling approach is just as critical for private equity firms looking to acquire businesses. For PE firms, telling their own story effectively to prospective sellers can be a game-changer. Business owners are often skeptical of selling to private equity; they worry about culture fit, the future of their employees, and whether their legacy will be respected. A well-told story that articulates the PE firm’s values, their commitment to the businesses they acquire, and their track record of success can help overcome these concerns. We’re currently working with a private equity group to do just that—crafting their narrative to connect with business owners on a deeper level. By telling the story of who they are, what they stand for, and how they’ve helped other businesses thrive, we’re helping them build trust with prospective sellers before the first meeting even takes place. Authentic storytelling doesn’t replace the due diligence process, but it does provide a compelling first impression that can make all the difference. It creates a narrative that resonates, sticks, and ultimately, persuades. In the end, every deal comes down to trust. And in a world where buyers and sellers are trained to be skeptical, authentic storytelling is the key to accelerating that trust, paving the way for meaningful conversations and successful transactions. At Story on Purpose, we’re not just telling stories—we’re building bridges of trust in the M&A world, one sell-side video at a time. And for private equity firms, we’re crafting narratives that connect with business owners, helping them see the value in a partnership that can elevate their legacy. #MergersAndAcquisitions #PrivateEquity #InvestmentBanking #Storytelling #SellSideVideo #TrustBuilding #StoryOnPurpose
- Leading with Vulnerability and Empathy
When a leader demonstrates authentic vulnerability and empathy, it reverberates throughout a team. I've seen it and learned it from some courageous leaders who put their egos aside and put other people first. Bob Alvarez, President of Shapiro, is one of those leaders who I've had the privilege of working with. When you get to know Bob you quickly gain a respect for his business acumen, which is demonstrated with tremendous humility. This is a short video clip of Bob showcasing their collaborative approach, even with competitors, to create circular economy solutions that benefit everyone. It's no surprise that he's attracted other leaders who show vulnerability and empathy, like Shapiro's Chief Marketing Officer, Judy Ferraro. It's an honor and a privilege for Forbes to include thoughts from all three of us in this article . Judy's comments about personalized feedback are spot on. "One way we measure and obtain feedback albeit informally is through leadership one-on-ones with our team members, included in these are skip-level discussions. Our leaders ask very open-ended questions and listen." Ferraro says. Specific, personalized feedback was previously a glaring weakness in my own leadership. As a morning news anchor in St. Louis and Seattle I had a mindset committed to excellence. When I got frustrated with something that needed to be addressed, I failed to address it maturely with specific feedback. Yikes, not good. A business mentor of mine, Point B co-owner Darren Littlefield, invited me to join a seminar on giving and receiving feedback with some of his team members. That was a game changer for me and helped me see that glaring weakness of mine. Ever since, I've strived to give specific feedback, both constructive and positive. By being consistent with the feedback, I saw a change in posture from my team when I address things. Thanks to great leaders and mentors, I've seen how to effectively lead with vulnerability and empathy.
- Why these M&A advisors are smiling (500% increased deal engagement)
There's a very good reason these M&A advisors are smiling, and it isn't the delicious tacos we had for lunch that day. Together, we used sell-side video tools to sell a manufacturing company with $7+ Million in adjusted EBITDA. The results were a 5x increase in deal engagement and the business sold for millions of dollars more than the owner anticipated. "We had over 660 some-odd potential buyers that saw the teaser and the teaser video," said John Kaminski, who worked as director of One Accord Capital Advisors on the deal (John is also founder of 10zing Advisors). "We had 65 sign the NDA to review the full CIM, and that's a huge response. Typically we would expect 2% considered good. Anybody in digital marketing says that is phenomenal. A 10% response rate is huge." On this deal the investment bankers tried something different. They worked with Story on Purpose to create sell-side video content. The teaser video below accompanied their pdf teaser. Of the 65 potential buyers that signed the NDA, 25% of them put in term sheets. Those 17 buyers received a traditional CIM accompanied by a 5-minute CIM video that showed a detailed visual layout of key equipment and facilities, highlighted the fact no one-customer makes up more than 10% of the business, and introduced a self-sufficient management team. This accelerated interest from the right buying groups and eliminated wasted site visits and management meetings from the wrong groups. One of those 17 buyers was a strategic partner the seller had previously considered. The final offer accepted was 65% higher than what this initial buyer proposed, and the winning buyer proved to be a far better fit. The video production took two days onsite and maintained the confidentiality that the business was for sale. How? Story on Purpose also produced an effective marketing video for the business that they started using immediately with great results. The project was introduced to employees as a marketing video, which is accurate. It's also a valuable sales/marketing asset in the off-chance the business never sold. When Story on Purpose engages to help sell a business, we work with the selling business owner and the M&A advisory team. We have experience in helping to sell businesses, so our team is educated and knowledgable on the deal side beyond the video production expertise. "The Story on Purpose crew was wonderful because you helped us pull out the relevant pieces we would want to highlight," Kaminski said. "You know what you're looking for. You know the right questions to ask to get the right information out. Then you handled all the interviews, the video. Everybody felt comfortable with the process and usually people are a little bit nervous about getting on camera. They universally said 'okay, this was easier than I expected, it was fine.' The product that was produced was exceptional." Tell your M&A stories with Story on Purpose to increase and accelerate interest from ideal buyers and eliminate wasted time with the wrong ones. Email john@storyonpurpose.com to see if your next deal would be a good fit. See more sell-side video content here.
- Pivotal Lessons: Low Fuel, Painful Guitar Strings, and AP Awards
Aside from the incorrect grammar (should be 1 Mile!)...I take a strange amount of pride in this. It made me recall lessons from a pivotal exercise that led to confidence in pursuing my entrepreneurial journey. Stick with me, but it involves painful guitar lessons, falling dozens of times while trying to land a backflip on a wakeboard, hitting a game winning basket in 8th grade, and making $7/hour as a tv reporter. In 2019 I left broadcast tv after a 17 year career that included stints in Omaha, Paducah, Charlotte, Dallas, St. Louis, and Seattle. I was searching for clarity on the right steps to what's next. For 10+ years I wanted to transition out of tv, but I could only tell people what I DIDN'T WANT to do. Thanks to learning directly from the Microsoft Chief Storyteller, Steve Clayton, I saw how my passion and skills could add value in the business world. A friend and business mentor who I now have an ongoing business relationship with, Kyle Frederickson, helped light the spark of entrepreneurship. In 2019 I was taking steps toward that, but I didn't want to have blinders on if a full-time job in a totally different industry was the right answer. I lined up meetings with old friends who had successful business careers in various fields. One of those pivotal meetings was with John Kaserman and Trevor McNeill. Trevor encouraged me to take the "Best Stuff Exercise" which he had gotten from the Hunt Family, owners of the KC Chiefs. It's a simple but powerful exercise and I'm happy to share it with you. Shoot me an email if you'd like to try it, john@storyonpurpose.com. The exercise has you list out the accomplishments in life you're most proud of. Here are a few from my list: Leading men in an authentic weekly prayer group (that I desperately needed) Winning Best-Reporter by the Kentucky Associated Press in my first year as a reporter Learning to play guitar despite a slow, painful process. Embarrassingly I once asked a friend if my strings were okay because they hurt my fingers so much. He said, yep, they're normal! Landing a back roll on a wakeboard after dozens of painful failed attempts. Being named honorable mention for the Nebraska High School Baseball All-State Tournament team (yes, I was that marginal of a player!) The exercise guides you to then analyze what you wrote. Here were my takeaways: Common Threads Across My Accomplishments / Experiences: Hard work and determination Recognizing my talents and pursuing Courage, to risk failure Love of being in public eye Relationships Taking risks Achieving a great accomplishment that didn’t come easy Love of being used in God’s kingdom Storytelling skills Adventure My Gifts Seem to Be: Intensity- ability to focus Courage to put myself out there Relationship-building Ability to learn and adapt Leadership Public speaking, capturing an audience Planting seeds and harvesting the crop This exercise helped me see that I had the fortitude to dive into the roller coaster world of entrepreneurship. I'm beyond grateful to everyone who's helped me on the journey!
- When a sales tool is "priceless"
The word "priceless" came out of our customer's mouth recently when discussing a strategic video story. While it's a huge compliment, the journalist in me needed to know why! Circular by Shapiro is looking to accelerate interest from CNC manufacturers who would be a great fit for their patented Fluid Recovery System. Part of the challenge is that they're introducing a new product that customers aren't searching for because they're not even aware of the solution it provides. We used our Instant Clarity framework to boil down how to tell the story of the Fluid Recovery System to the audience it can help. The most effective way to tell any product story is through the mouth of someone it's helping. It needs to be authentic and not forced. We all can tell when someone is rehearsing a canned line. Story on Purpose identified Orizon Aerostructures as a great case study. Our team communicated with the St. Louis plant's leadership and they graciously allowed us to come see the Fluid Recovery System at work. Jack Schroeder, Orizon's Process Improvement Specialist, showed us the system at work. He gave us "soundbite gold" when he said the Fluid Recovery System is helping Orizon save its "liquid gold." We had a series of strategic questions that led to a powerful story that speaks directly to CNC manufacturers. This is the sales video tool that resulted. The Shapiro team has been using it to land and close deals. "It takes two steps out of the Sales process," said Judy Ferraro, Shapiro's Marketing Director. "There isn't a sales tool I could buy that would be better than that video."
- Best Storytelling Framework: From Mystery to Epiphany to Your Brand Story
I'll never forget how clueless I felt sitting in that Seattle bar with three business people who were generously brainstorming ideas for my new storytelling business. One was an executive at a global marketing firm, one worked with the Bill and Melinda Gates foundation and was about to go on a global tour with Melinda, and the other was an experienced marketer at Microsoft. I left TV in 2019 to start my business with eyes wide open that there was A TON I didn't know about business. Seventeen years as a news anchor/reporter helped me sharpen my storytelling skills, but the TV broadcasting world is its own weird, little bubble. That's not to say other broadcasters were clueless about business. But I felt like a high school freshman sitting at a table with a bunch of Harvard Business School professors. The Microsoft marketing guy said, "You need a good framework. I love frameworks!" I took a sip and nodded as if I knew what he was talking about. I didn't. The three of them proceeded to talk about favorite frameworks they use in business. I felt a sudden longing for a teleprompter. I had a follow up meeting with the Microsoft marketer in an attempt to better understand the framework concept. I wish I could say it clicked for me right then, but in reality it took many more business books, podcasts, and conversations with mentors. The framework epiphany came from a business concept around something in my wheelhouse, storytelling. Through relationships with a few other people at Microsoft, I got to meet Steve Clayton, who at that time was Microsoft's Chief Storyteller (he's now Microsoft's VP of Global Affairs). I got to have a pint with the very down-to-earth British man at a pub in Seattle's Madrona neighborhood. I studied everything I could find of Steve's online, including this TEDx Talk on Storytelling. At last, a framework that easily resonated with me: The Hero's Journey. Now I started to see The Hero's Journey pop up in other business conversations. Shane Meeker, Procter and Gamble's Chief Storyteller, was gracious to do a few zoom calls to help teach me. Guess what, he has a TEDx Talk on The Hero's Journey as well. I found Donald Miller's Story Brand content with more use of The Hero's Journey framework. And then I started to use it. At first I used the framework to help craft the story outline for brand videos. It worked. The clients were happy and felt like it positioned their brand perfectly to reach ideal customers. It allowed them to tell their story in a way that focused on the customer and to authentically share their story in that context. Then I started to use it in workshops. What seemed elementary and obvious to me was creating epiphany moments for seasoned business people. The "aha" moments I saw with each team led me to call the workshops "Instant Clarity Sessions." We saw it lead to deeper messaging clarity and team alignment with CMA Global, a team of clinical psychologists who help companies navigate complex people issues. We saw it lead to product innovation and new sales collateral with Gasket and Seal Fabricators, a manufacturing company that...you guessed it...makes gaskets and seals for other manufacturers. We saw it help solar panel experts at EFS Energy understand and apply the story framework to three very unique target audiences. You don't tell a different story to different audiences, but you do tell your story differently to maximize their engagement. We used the Instant Clarity framework to help the National Alliance on Mental Illness create content targeted to a specific audience; employee engagement committees at large St. Louis employers. What is the Instant Clarity framework? Glad you asked! It's the best storytelling framework we've found. Check out the infographic below. (Reach out if interested in a similar infographic for your business objectives)
- Outside the Box Strategic Storytelling
This may seem like a simple video, but this is an example of outside the box strategic storytelling. One of the benefits of being a morning news anchor was the opportunity to give air time to friends and people I knew doing big things! While it was fun to do, strategic storytelling was at the root of it. I couldn't just put anything on air. This was a great example. The military records holiday greetings and then makes them available to local tv stations where those service members are from. You've likely seen them on your local news. I had been texting with my good friend, Brandon Dubuisson, who was on a deployment to the Middle East as a C-17 pilot. We were both "working" that Thanksgiving Day, so I told him to send me a cell phone video with him and another pilot who were stationed at JBLM in the Seattle area. This was not the US Military sanctioned greeting, but it checked all the boxes for both the Military and for our local Seattle news coverage at KIRO 7. Both Brandon and I knew that our bosses would be totally fine with us doing this "outside the box" collaboration. And my co-anchor, Michelle Millman (a great strategic storyteller herself), was fully onboard. That's what I love to do professionally. Think outside the box on how to use strategic storytelling to create win-win-win scenarios.
- Beware of Bogey Impact, Empty Impressions
A TV news coworker of mine was once celebrated for adding tens of thousands of facebook followers. Our social media consultants touted the achievements to the corporate TV news big wigs. They used it as proof for their effectiveness in consulting. That coworker of mine was very humble and very authentic. So much so, that coworker was quick to point out that almost all of the new followers were from another country and outside our target demographic. We were a local TV news station that made its money selling advertising to companies trying to reach people in key demographics in our region. The thousands of followers who lived outside our area, let alone outside our continent, did nothing for our TV news station's strategic goals. I recently saw a similar situation in business. Solar power company, EFS Energy, worked with Story on Purpose to get clarity and alignment on telling its authentic story to ideal residential homeowners. Together we identified that EFS can best serve middle-income homeowners who are likely in their 40s or 50s with plans to own their home long-term. And we helped create content specifically targeted to that audience. Meanwhile, a digital marketing company (who shall remain nameless), was touting results to EFS of a social media campaign with thousands of impressions. The problem was that many of those impressions were with 18-28 year olds who were not likely to own a home or benefit from what EFS Energy offers. EFS recognized the issue and promptly fired that company. Beware of "bogey impact" or results that do little or nothing to further your strategic goals. I've heard a similar story from many business owners. Would you rather have a thousand likes and impressions on social media from random people or 10 social media engagements from people who could directly benefit from your product or service and have capacity to buy? Here's how you turbocharge your marketing, recruiting, and sales story. Get razor sharp on WHO you need to reach. Then reverse engineer the story to make them the hero, address their known challenges, and how you help them overcome the challenges to achieve their desired outcome. Here are some of the Instant Clarity results from EFS Energy working with Story on Purpose: Homeowners dealing with rising energy costs use EFS Energy's free solar feasibility analysis which helps determine the best custom solution for their home. These homeowners can reduce their carbon footprint, save on utility bills, gain long-term peace of mind and increase their property value through EFS Energy's customized solar solutions.
- Lesson in Being Blackballed: Scarcity Mindset
I recently found out I've been blackballed from leadership positions in two organizations geared toward manufacturers. True story. In both cases, digital marketing/branding agencies viewed Story on Purpose as a competitive threat. So, they blocked me. I don't take it personally. It's simply the scarcity mindset on full display. I had previously met with owners of both agencies. Both meetings were presented as a networking opportunity to get to know each other and possibly pursue collaboration. In both cases 90% of what they offer customers is different from how Story on Purpose works with customers. I was told one of the agency owners said "he's fighting for the same marketing dollars we are." The only obvious overlap is that we all help customers with messaging clarity and strategy. The rest of their offerings greatly differ from how we help customers at Story on Purpose. Often times both agencies outsource the work that Story on Purpose does to others. The scarcity mindset says "there is a finite amount of business out there and I must do everything possible to get a bigger piece of the pie." The abundance mindset says "there are ample amounts of business out there and collaboration can build a bigger pie to create win-win-win scenarios." Let's be clear. Competition exists and running a business isn't easy. Burying your head in the sand and not trying to stand out against competition is a recipe for extinction. You might be wondering what an example of abundance mindset and collaboration looks like. Take Shapiro and the separate work Sean Stormes and Alan Andersen have been doing with the company leadership for the past year plus. Both Sean and Alan work with executive leadership teams and I know firsthand they have some crossover in how they can work with customers. Yet, they are both zeroed in on different core offerings they are delivering with Shapiro, and they don't feel threatened by each other! I know because I've been in those leadership meetings. I've been a part of conversations with Alan and Sean in which both leaders showed an abundance mindset. The same applies to how Andrya Allen with The Nine digital marketing agency, Judy Ferrero with Shapiro marketing, and my team with Story on Purpose are working together to tell the story of Circular by Shapiro. There is crossover between all three of our areas of expertise. Sure, the skeptic would point out that Shapiro COO Bob Alvarez has brought us all in and identified how he wants us to help Shapiro achieve its goals. But just because people are working on the same team does not mean they work with an abundance mindset. Just this week, a business leader told me how he left a company because the top executive approached everything with a scarcity mindset. A book that I recommend that's helped shape my abundance mindset is The Go-Giver by Bob Burg and John David Mann. I've been exposed to many great leaders (tagged below) who truly lead with a selfless, abundance mindset. If there's an opportunity to provide everything a customer needs, they jump on it if they can truly provide the best outcomes. If there's someone better for a specific component, they help build a bigger pie by bringing in that expertise. They also seek ways to add value that in no way really benefits them. This is often in the form of making connections, referrals, and free insights from their expertise. The leaders who approach business with an abundance mindset most often have an air of confident humility. They don't use false humility when it comes to their expertise. They deliver with excellence in their area of genius and they are humble enough to know they don't know it all. You can read more about confident humility and the book that inspired me to pursue it here.
- A Story of Abundance Mindset
This is a story about two businesses and leaders I've seen collaborate beyond their core offerings. Both approach business with an abundance mindset and not a scarcity mindset. CMA Global, a team of psychologists who help companies with complex people issues, trusts Matt Skarin and Skarin Insurance Brokers to handle its complex insurance needs. Jami Wolfe, Managing Partner at CMA Global Inc, notes that the relationship goes far beyond insurance. Skarin Insurance Brokers' consultative approach and connections help CMA achieve its business objectives. When I met both Jami and Matt two years ago they were already doing business together. At an ACG St. Louis event I overheard Matt asking Jami about her business and offering input and connections that had nothing to do with insurance. That's what I mean when I talk about helping customers beyond their core offering. This is a fun, authentic story to tell because I've had a chance to work with both organizations through our Story on Purpose Instant Clarity process. In a 5-part online course or a half-day workshop we identify, clarify, and simplify how to best speak to ideal customers and partners. Speaking directly to your target audience about their issues is the most effective way to get their attention and build trust. Both of these leaders and their businesses do this well. When you listen to Jami's video below, you'll hear the Skarin Insurance Brokers story from the viewpoint of an ideal customer. That is the most effective way to tell your story! Make them the hero. I used the outcome of that Instant Clarity from both organizations to create this post. It clearly speaks to both organization's ideal customers; CMA helps companies with complex people issues and Skarin helps companies with business objectives beyond handling their complex insurance needs.
- The Most Pivotal Moment in My Entrepreneurial Journey
Okay, story time.... HUGE significance tied to the Zoka coffee shop in Kirkland, Washington (outside Seattle) and my meetings this week of 8/22/23. In 2019 I left Broadcast TV to start my business. And surprise, surprise...I learned some tough lessons right away. Mason Buckles had asked me to put together a #videostorytelling proposal for his very successful Mortgage Brokerage (thanks Brianne Joseph). I felt great about it and had a mentor, Darran Littlefield, review it for me. Well...I got beat out on the bid. Mason was VERY gracious to tell me he went with Brandtegic instead and why. Around that time I had a coffee networking meeting with Jeff Culpepper at Zoka Coffee Roasters. He told me about a younger guy, Austin Schneider, who was doing something similar to me for real estate professionals on Seattle's Eastside. Jeff connected us and I looked up Austin's personal website. It said he had left a sales job at KING 5 News (I came from KIRO 7 News). Two BIG STRIKES! He was in sales and I was in news. He worked for our big competitor. Then it said he's the founder of Brandtegic. Oh, and he's about 10 years younger than me. STRIKES 3 AND 4!!! I was FURIOUS! This young, punk sales guy from my competition had beaten me out on what was supposed to be a project that helped launch my business. My pride was more than just hit, it was like a one-two punch from Mike Tyson. After sulking for several minutes I noticed that he was open about his love of Jesus on his webpage. I worked to swallow my pride...which was like swallowing a bowling ball. I thought maybe this young entrepreneur would share with me how he's building his business. So, I emailed him asking to meet. And he was OVER THE TOP gracious with me. He shared how he was building his business and charging what he charged clients. We talked about faith and he told me about KIROS, a Seattle Christian business network. He also said, "see that sharply dressed bald guy over there (Alan Andersen)? He's part of the KIROS group and I'll introduce you two." I met Alan briefly at Zoka and then we got together a week or so later in more depth. Well, that intro set off a chain reaction that has only snowballed since. First and foremost Alan quickly became a dear friend, praying for me and supporting me through a very difficult season personally and professionally. Alan always leads his intros with "the best thing that happened to me was getting fired from my job, having our house foreclosed on, and finding out we were pregnant...all in a matter of days." Alan proceeded to teach me key business principals, as he had been an entrepreneur for 8+ years at that point. He pointed me to key business/life books and gave me his template for writing proposals. (He and I both now do work for Bob Alvarez and the awesome Circular Economy team at Shapiro). That was January/February 2020. Fast forward to this day of August 22nd, 2023. Here's what transpired that day at Zoka Coffee: I met with Jeff Rogers, an authentic mentor who Alan introduced me to back in 2020 right as my family moved to St. Louis for my rockstar wife's job with Boeing. Jeff is the co-founder of KIROS. I met with Alan Pablick, an Emmy Award winning storyteller who I had worked with at KIRO 7. Alan is part of the Story on Purpose team now. He's been instrumental in building out the Instant Clarity Online Course, which we built for sales professionals and small business owners. I had lunch (just around the corner from Zoka) with the One Accord Capital Advisors team of John Kaminski, Tyler Beutel, and Jeff Rogers (James Anderson not present). We were discussing a business that Story on Purpose is helping them sell with our sell-side video storytelling. Matt Skarin talked to me about this business two years ago. Here we are 2 years later. I learned in that lunch that the deal had a 500%+ increase in engagement over a typical deal they send to prospective buyers. And thanks to my team led by creative director Tom Herbig, the sell-side video content is getting GREAT feedback from the interested buyers. I took a zoom call from Zoka with Matt Skarin, Bill Rochfort, and Andrew Markell about our progress building out CornerstoneSecurity.com, a total digital sovereignty solution for family offices and nation states that delivers them intelligence agency and military grade technology solutions, previously unattainable outside of 1st world governments. I had a dynamite meeting with Chris Hare, founder of The Storied Future. Chris has been equally as gracious as Austin Schneider in opening up his playbook on how he's taken his experiences at Microsoft and Amazon to build a successful storytelling business that helps CEOs succeed through strategic narrative. Chris will be a keynote speaker at the Tom Hill Eagle Summit in October. I connected him with Sandy Waggett and he's going to bring an awesome presentation to a group of successful entrepreneurs. I wrapped up my time in the Zoka/Kirkland area with a $33 parking ticket on the car my good friend, Shon Albert, let me borrow. But hey, you can't win 'em all! (I'm going to pay it, Shon...settle down) So, you can see that Zoka Coffee is more than just a building to me.... Oh, and great friendly service there!
- 3 Lessons from a Diversity Breakthrough in Cosmetics
One of my favorite podcasts these past 4+ years is "How I Built This with Guy Raz." It helped fuel my entrepreneurial fire as I was looking to exit broadcast journalism in 2018. Every entrepreneur has unique components of their story that look different than ours. There are also business lessons we can learn from each of those unique stories. Melissa Butler is the founder of The Lip Bar, an all natural lipstick brand inspired by her love for all-natural bars of soap. She has made major waves in the cosmetics industry, which is historically very hard to break into. She's a proud black woman who brought tenacity and a few key moves that led to her breakthrough. Here are 3 lessons that stood out to me from Melissa's story: Focus Messaging on Audience's Outcomes: I love the story of how Melissa got Target to carry her lipsticks. It highlights the fact that your story needs to be told differently to different audiences. It's not a different story, you just tell the same story differently. Melissa had no connection to any buyers at retail stores, so she started searching LinkedIn for "Target buyer," "cosmetics buyer," etc. Melissa emailed one Target buyer and focused primarily on what The Lip Bar could do for Target, rather than what Target could do for them. Brilliant! She told her story, but she highlighted that her customers aren't shopping at Target for makeup. Carrying The Lip Bar products would attract new customers to Target, and make that buyer who brought in the Lip Bar products a HERO! This is a point that is often overlooked by most businesses...yes, mine as well at times. You need to customize your story to your specific audience's world. Make them the Hero! This is why salespeople and organizations use our Instant Clarity online course and workshops. The process gives you a framework to work through for each of your unique audiences so that they want to engage with you. Target is a strategic business partner, not a customer who needs/wants lipstick. Remember, Melissa didn't sell Target by just listing out her product details, quality, etc. She sold Target because she helped them see how she could help them become a hero. Creative Collaboration: Before the Target breakthrough, when she was just getting the business going, Melissa decided take the makeup counter directly to customers. Her ex-boyfriend helped convert a shuttle buss into The Lip Bar Truck. They took it on a tour and quickly learned she needed a permit to park it on the street. So, then she had the idea to partner with stores in different cities to park the truck in front. BINGO! Her most successful partnership was when Urban Outfitters in Washington D.C.'s Georgetown neighborhood hosted the Lip Bar Truck for a day. That is creating a WIN-WIN-WIN. Urban Outfitters and the other stores benefited by having the flashy truck attract people in with a product (lipstick) that didn't compete with their offerings. Customers of those stores benefited by being introduced to a new product. And Melissa and The Lip Bar clearly benefitted. That is creative collaboration. Instead of "how can I get more of the pie," the thought is "how can we together build a bigger pie that feeds us all more!" Your Story + Excellence = Results: Melissa has a great story and prominently displays that The Lip Bar is a black owned business. She ultimately, however, doesn't expect or want that to be why her business is successful. In the podcast she said, "As a black business owner I don't want you to support my business. I want you to shop my products because we make it easy for you to understand what products work for your complexion, not because you feel bad about something. Our goal is to have lifetime value with our customer, and a more than transactional relationship with our customer." Boom, mic drop.