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The power of strategic narrative | Andy Raskin
36 segments available
Andy Raskin helps CEOs align their leadership teams around a strategic narrative—a single story that powers success in sales, marketing, product, fundraising, and recruiting. His clients include Gong, Dropbox, Uber, Salesforce, Square, IBM, and many others. In today’s episode, we discuss: • What a strategic narrative is, and how to craft one • How having a strategic narrative can bring alignment to your entire company • Examples of strategic narratives in action • Who needs a strategic narrative and who doesn’t • Why Andy thinks about movements instead of categories — Brought to you by Coda—Meet the evolution of docs | Lenny’s Job Board—Hire the best product people. Find the best product gigs | Eco—Your most rewarding app Find the transcript at: https://www.lennysnewsletter.com/p/the-power-of-strategic-narrative Where to find Andy Raskin: • LinkedIn: https://www.linkedin.com/in/andyraskin/ • Website: https://www.andyraskin.com/ • Podcast: https://andyraskin.com/podcast/ Where to find Lenny: • Newsletter: https://www.lennysnewsletter.com • Twitter: https://twitter.com/lennysan • LinkedIn: https://www.linkedin.com/in/lennyrachitsky/ In this episode, we cover: (00:00) Andy’s background (08:03) What is a strategic narrative? (10:34) How Salesforce would have pitched the old way (12:02) Examples of a strategic narrative in action (15:23) How one piece of writing skyrocketed Andy’s career (16:40) The power of writing online (17:53) Two paths to writing online (19:27) Naming the old game (20:59) Naming the stakes (23:29) Naming the objective (25:17) Naming the obstacles (26:35) Overcoming the obstacles (26:57) How the strategic narrative parallels the hero’s journey (28:25) Telling one story well vs. being a good storyteller (29:18) The 5-step framework summarized (31:33) An example of the 5-step framework in action (36:12) The impact of shifting to the strategic narrative approach (39:08) Companies that are nailing their strategic narrative (40:36) Why Andy thinks about movements instead of categories (44:15) Should every company have a strategic narrative? (46:33) Signs that something is broken in your strategic narrative (48:53) Steps to get started on your own (51:36) How to reach Andy (51:53) Why the second session is the low point in the process (55:30) Why the CEO needs to be part of the process (57:40) Lightning round Referenced: • Salesforce: https://www.salesforce.com/ • Marc Benioff: https://www.linkedin.com/in/marcbenioff/ • Zuora: https://www.zuora.com/ • The Greatest Sales Deck I’ve Ever Seen: https://medium.com/the-mission/the-greatest-sales-deck-ive-ever-seen-4f4ef3391ba0 • Gong: https://www.gong.io/ • Tien Tzuo: https://www.linkedin.com/in/tientzuo/ • Want a Better Pitch? Master the “Move”: https://medium.com/firm-narrative/want-a-better-pitch-master-the-move-5fbee071ca7f • Star Wars: https://www.starwars.com/ • The Hero with a Thousand Faces: https://www.amazon.com/Thousand-Faces-Collected-Joseph-Campbell/dp/1577315936 • 360Learning: https://360learning.com/ • Nick Hernandez: https://www.linkedin.com/in/nicoconut/ • Amit Bendov: https://www.linkedin.com/in/amitbendov/ • Drift: https://www.drift.com/ • OneTrust: https://www.onetrust.com/ • “Shitty First Drafts” by Anne Lamott: https://learning.hccs.edu/faculty/pamela.golden/engl2327/shitty-first-drafts-by-anne-lamott/view • Story: https://www.amazon.com/Story-Substance-Structure-Principles-Screenwriting/dp/0060391685/ • Out of Sheer Rage: https://www.amazon.com/Out-Sheer-Rage-Wrestling-Lawrence/dp/0312429460 • Station Eleven: https://www.imdb.com/title/tt10574236/ • Fitbit: https://www.fitbit.com/global/us/home • Apple Watch: https://www.apple.com/watch Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com. Lenny may be an investor in the companies discussed.
Segments Timeline
The Shift from Old Game to New Game
Andy Raskin introduces the concept of pitching in business, contrasting the traditional 'Arrogant Doctor' approach with a narrative-driven method. He emphasizes the importance of framing a pitch around a significant shift in the market, using Salesforce's transition to cloud computing as a prime example of defining a movement rather than just solving a problem.
"the way I learned how to pitch in business school I think the way most people did is what I call the Arrogant doctor so you have a problem a pain I have a solution you know a treatment and I'm going t..."
Crafting a Strategic Narrative
In this segment, Andy Raskin explains what a strategic narrative is and its role in aligning teams across various functions like marketing, sales, and product development. He highlights the narrative as a 'North Star' that guides a company's direction and decision-making, moving away from traditional problem-solution pitches.
"sponsors this episode is brought to you by Coda you've heard me talk about how Coda is the doc that brings it all together and how can help your team run smoother and be more efficient I know this fir..."
Lessons from a Failed Pitch
Andy shares a personal story about his early experiences with pitching, detailing how a harsh critique of his investor pitch led him to explore storytelling techniques from screenwriting. This journey helped him understand the importance of narrative structure in effectively communicating ideas and securing investment.
"Andy welcome to the podcast oh thanks Lenny so great to talk to you so you're quite known as someone that helps CEOs optimize their pitch their story their strategy which we're gonna get deep into but..."
The Power of Storytelling in Business
Raskin discusses how storytelling can transform a pitch, using examples from successful companies. He explains how a compelling narrative can shift perceptions and drive engagement, illustrating this with anecdotes from his experiences and the impact of storytelling on business outcomes.
"over the next like 10 15 years I I thought about like hey maybe I could do Consulting with this like CEOs have heard about this would like ask me about it but I still was like no no CEO is gonna like ..."
Salesforce's Revolutionary Approach
Andy elaborates on Salesforce's innovative pitch strategy, which focused on the paradigm shift to cloud computing rather than just competing on features. He explains how this narrative defined a movement and positioned Salesforce as a leader in the industry, contrasting it with traditional pitches that merely highlighted product advantages.
"like when I found those screenwriting books I sort of shifted the structure and the traditional structure of the way I learned how to pitch in business school I think the way most people did is what I..."
Examples of Strategic Narratives in Action
In this segment, Andy provides additional examples of companies that successfully implemented strategic narratives, including Zuora and Gong. He illustrates how these narratives not only clarified their value propositions but also aligned their teams and attracted customers by framing their offerings within larger market shifts.
"so the Crux of the uh approach is instead of problem solution you should go do this it's the world is changing here's where it's going and we're gonna help you get there and I want to go in a little m..."
The Impact of a Single Piece of Writing
Raskin reflects on the significant impact of a single Medium post that garnered two million views, which helped elevate his career. He explains how this piece resonated with CEOs and highlighted the importance of storytelling in sales narratives, demonstrating how effective writing can lead to substantial professional opportunities.
"thing I I don't think they'd be upset if I shared them maybe it's known like you know initially they were seen as a tool for like sales operations you know for someone who's going to record the calls ..."
Two Paths to Online Writing Success
In this segment, Raskin contrasts two approaches to online writing: creating one viral piece versus consistently producing content over time. He shares insights on the challenges and rewards of each path, emphasizing that while going viral is difficult, sustained effort can lead to gradual growth and recognition.
"example that comes up a bunch on this podcast just the power of writing the power of content and there's yeah and you're shaking your head yeah totally I mean I had a I had a little mini career as a j..."
The Freedom of Independent Writing
Raskin discusses the liberation he felt when he transitioned from traditional journalism to writing on platforms like Medium and LinkedIn. He reflects on the absence of editorial constraints and how this freedom has allowed him to connect directly with his audience, enhancing his storytelling capabilities.
"something gets two million views but you can go that path you know this is like you said earlier like hey it seems like boom but really so I had that was that was probably the 30th or 40th piece you k..."
Crafting a Strategic Narrative Framework
Raskin outlines the essential components of a strategic narrative framework, emphasizing the importance of naming the old game and the stakes involved. He explains how effective narratives can create urgency and clarity, helping companies articulate their vision and engage their audience.
"pointed that out that it rarely is just you write one thing and boom yeah great I'll also say sorry because I worked in a magazine I haven't done a newsletter because that idea of like having a deadli..."
The Stakes of Change in Business
In this segment, Raskin elaborates on the necessity of naming the stakes in a strategic narrative. He draws parallels to storytelling in movies, using the example of Star Wars to illustrate how high stakes can motivate action and decision-making in business contexts.
"naming the stakes and there's a few ways to do this but one that's really great if we can do it is is to name the winners to show that winners are already playing this new game so for instance with uh..."
Defining the New Game
Raskin discusses the importance of clearly defining the 'object of the new game' in a strategic narrative. He provides examples from companies like Zuora and Airbnb, illustrating how a concise and compelling mission statement can serve as a rallying cry for teams and customers alike.
"other path that Obi-Wan holds out for him and you know whenever I work with teams and I talk about this so they're like okay I guess we gotta then for kill the prospect's aunt and uncle and basically ..."
Identifying Obstacles in the Narrative
Raskin emphasizes the need to identify obstacles within a strategic narrative, framing them as challenges that must be overcome. He explains how presenting these obstacles in an emotional context can enhance their significance and drive engagement with the narrative.
"you're never literally gonna live there but and and if you think about it this this buyer mission statement is this rallying cry I think of it really as the mission of the company I mean what what is ..."
The Hero's Journey in Business Narratives
Raskin draws connections between the hero's journey and strategic narratives in business. He discusses how understanding this narrative structure can help companies craft compelling stories that resonate with their audience, ultimately leading to greater engagement and success.
"we understand why they matter and then of course the last piece is uh is is now talking about well how are we going to overcome these obstacles how you know what are the in the narrative people in the..."
Transforming Customers into Heroes
In this segment, Raskin explains how to turn potential customers into the main characters of the narrative. He discusses the shift from transactional relationships to a more engaging story where customers are invited to join a movement. This approach not only enhances the emotional connection but also encourages customers to see themselves as part of the solution.
"behind a lot of this stuff for sure yeah that makes sense because I think people hear about that all the time when they're like become a better Storyteller tell your story in this hero's journey and i..."
The Five-Step Framework for Strategic Narratives
Raskin outlines a five-step framework for creating effective strategic narratives. He emphasizes the importance of naming the new movement, identifying the stakes, defining the objective, recognizing obstacles, and discussing how to overcome them. This structured approach helps in crafting compelling stories that resonate with audiences and drive engagement.
"almost like you're putting them into the hero's journey like you can exactly win exactly I love that so let me just try to summarize what you shared this five-step framework so you start with here's a..."
Engaging Questions to Drive Narratives
Raskin highlights the effectiveness of framing the objective of a strategic narrative as a question. By asking engaging questions, such as what it takes to turn customers into subscribers, he illustrates how this technique invites the audience to participate in the narrative, fostering a sense of collaboration and adventure.
"as a CO I don't know Adventurer uh in in crafting this story I love that this episode is brought to you by Eco last month Eco users earned an average of 84 dollars in cash back rewards how with Eco th..."
Case Study: 360Learning's Narrative Shift
In this case study, Raskin discusses how 360Learning transformed its narrative from a focus on 'Collaborative Learning' to a more impactful story about 'Upskilling from Within.' He explains how this shift helped the company better connect with its audience and differentiate itself in a crowded market, leading to more effective pitches and engagement.
"and then there are Eco points the world's first open reward system you earn them whenever you do almost anything in the Eco app Eco is working to make these points the most rewarding points ever so it..."
The Shift from Top-Down to Collaborative Learning
Raskin elaborates on the transition from traditional top-down training methods to a more collaborative approach in corporate learning. He emphasizes the importance of empowering internal experts to become educators, which not only enhances learning but also fosters a culture of continuous improvement within organizations.
"sounds great okay great so the story and and by the way uh Nick Hernandez is the CEO and Nick's been on my podcast so he's talked about this so they for a long time were pitching themselves as Collabo..."
Identifying Obstacles in Learning Narratives
In this segment, Raskin discusses the common obstacles organizations face when implementing new learning strategies. He emphasizes the need to address these challenges head-on in the narrative, ensuring that potential customers understand the complexities involved and how the proposed solutions can help overcome them.
"mindset of top-down learning there's gonna be some like learning Guru at the company they're gonna get all the courses they're gonna you know put it all together and like sort of set out this training..."
Impact of Strategic Narratives on Business Success
Raskin shares insights on the measurable impact of adopting strategic narratives in business pitches. He discusses how companies that embrace this approach can shift the focus from product features to broader movements, creating a more compelling narrative that resonates with audiences and drives engagement.
"was like hey there's there's look at the big companies who are doing this and then I think they showed hey you know you're not doing this look training is becoming very expensive it's people don't car..."
Using Strategic Narratives as a North Star
Raskin explains how strategic narratives serve as a guiding principle for product development and decision-making within organizations. By aligning feature requests and priorities with the overarching narrative, companies can ensure that their offerings remain relevant and impactful in a rapidly changing market.
"for anybody to create a course you know people who don't even know how to you know might have expertise in in electric engines but you know don't know how to create a course that haven't how are you g..."
Drift's Conversational Marketing Movement
Raskin highlights Drift as a prime example of a company successfully leveraging a strategic narrative. By positioning their chatbot solution within the context of a broader movement towards 'conversational marketing,' Drift differentiates itself from competitors and engages customers in a meaningful way.
"just sounds like it's been really effective for them that's actually was what I was going to ask next is what kind of impact have you seen with someone shifting their pitch and story from this doc wha..."
The Limitations of Category Creation
In this segment, Raskin critiques the concept of category creation in marketing. He argues that focusing on categories can limit a company's narrative potential and suggests that instead, businesses should concentrate on creating movements that resonate more deeply with their audiences.
"important prop but there's this higher level overlay that becomes the focus of the conversation at first and of course we're going to get into product and and that that helps sell once we have this st..."
Drift's Conversational Marketing Revolution
Andy Raskin highlights how Drift transformed the chatbot landscape by focusing on 'conversational marketing.' Instead of positioning their product as just another chatbot, they redefined the customer experience by emphasizing immediate engagement and responsiveness. This strategic narrative not only set them apart but also initiated a movement in marketing practices.
"maybe aren't clients that you see as like wow these guys are nailing it and they're doing great job of the Strategic narrative well one that really comes to mind is I mean it's been out there for a wh..."
The Flaws of Category Creation
Raskin discusses the limitations of category creation in business strategy. He argues that merely naming a category does not guarantee differentiation or success. Instead, he emphasizes the importance of crafting a compelling narrative that resonates with the audience, using examples like Gong's 'Revenue Intelligence' to illustrate how a strong story can elevate a brand beyond its category.
"so earlier you throughout this word category and I've noticed you haven't talked about category and category creation too much and I think that you're kind of uh not a fan of this idea of creating a c..."
The Power of Strategic Narrative Over Categories
In this segment, Raskin explains why he prefers focusing on strategic narratives and movements rather than traditional category creation. He argues that a compelling story can unify a company's message and resonate with customers, making it more impactful than simply labeling a product within a category. He uses HubSpot's narrative around inbound marketing as a case study.
"on those three words so much and what happens often is is CEOs will they'll kind of come up with this little category like like what happened with uh with Nick at the 360 learning with Collaborative L..."
Identifying the Right Fit for Strategic Narratives
Raskin shares insights on which types of companies benefit most from strategic narratives, particularly B2B and enterprise technology firms. He explains that these companies often face complex products and require a unifying story to guide their sales and marketing efforts. He also notes that consumer products may not find the same value in this approach.
"category they're they're in you know is the Strategic narrative framework right for essentially any company or is there like a sweet spot and I've noticed most of the companies you've been talking abo..."
Signs Your Strategic Narrative Needs Attention
Raskin outlines key indicators that suggest a company's strategic narrative may be broken. He emphasizes that as companies grow, especially around Series B funding, they often struggle to maintain a cohesive story that reflects their evolution. He provides examples of companies that have successfully expanded their narratives to accommodate new products and market changes.
"Enterprise technology companies just a few more questions one is just what's a sign that you should spend time in this area that something is broken in your strategic narrative story pitch well I can ..."
Steps to Crafting Your Strategic Narrative
In this segment, Raskin offers actionable steps for founders looking to develop their strategic narrative. He encourages a lean approach, testing ideas in sales calls to gauge resonance with customers. Raskin stresses the importance of storytelling over templates, advocating for a tailored narrative that reflects the unique aspects of each company.
"to do this I haven't spent enough time on this something's not working this could be a huge unlock for us what are the first couple steps they could take to start to figure this out and I imagine at s..."
Navigating the Low Point in Narrative Development
Raskin discusses the common challenges teams face during the second session of narrative development workshops. He shares a personal anecdote about a CEO's experience, emphasizing the importance of setting expectations for this phase. Raskin explains how the process involves gathering insights from customers and refining the narrative collaboratively.
"share with you or something and I am so against this template like every team I work with it's different you know it's not like the same number of slides sometimes we can lay out this shift in one sli..."
The Importance of Drafts in Narrative Development
Andy Raskin elaborates on the significance of having a draft during the strategic narrative process. He shares insights on how initial ideas can be overwhelming and the necessity of refining them into a powerful narrative. Raskin draws parallels to the writing process, referencing Anne Lamott's concept of 'shitty first drafts' to illustrate the value of iteration.
"do that so the way the way I work it is in I have a kickoff session where essentially I'm I'm I'm asking people on the team like what are these pieces what is this old game new game shift what what ho..."
CEO Involvement in Strategic Narratives
Raskin emphasizes the critical role of CEOs in the strategic narrative process. He shares his observations that the most successful narratives are those where the CEO is actively involved in crafting and refining the story. This segment highlights the need for leadership support in aligning the narrative with the company's vision and goals.
"we plan on this in advance we're going to go back to the drawing it and then bring up something good so I you know having a draft is like a million times more valuable than having all these great idea..."
Empowering Product Leaders with Strategic Narratives
In this segment, Raskin discusses how strategic narratives can benefit product leaders and managers. He explains that having a clear narrative helps in articulating the importance of a product and its place in the market. Raskin encourages product leaders to leverage the narrative framework to gain support and alignment across teams.
"want the support you don't want to be just telling that story in product you're gonna want that supported from you know uh this war person who gave me their initial deck he said you know it was like I..."
The Role of Support in Narrative Success
Raskin talks about the necessity of having support from leadership when developing a strategic narrative. He shares an analogy about needing 'air cover' from executives to effectively communicate and implement the narrative across various departments, ensuring that the message resonates throughout the organization.
"wanted to touch on or you want to share before we get to a very exciting lightning round uh no except uh I I love category design people and uh uh it's really just it's really just sort of terms that ..."
Lightning Round Insights
In this engaging lightning round, Raskin answers rapid-fire questions about his favorite books, movies, and insights on presentations. He shares valuable recommendations, including Robert McKee's 'Story' and Jeff Dyer's 'Out of Sheer Rage,' while also providing practical tips for improving presentation effectiveness by focusing on clear takeaways.
"with that we reached our very exciting lightning round I've got uh five questions for you are you ready I'm ready I haven't seen the quest I saw the quit you sent them but I didn't really look at them..."