Introduction

“True Story: How to Combine Story and Action to Transform Your Business” by Ty Montague, published in 2013, delves into the compelling intersection of narrative and business innovation. Montague, co-founder of co: collective, a growth and innovation accelerator, argues that the fusion of compelling story and strategic action drives business transformation. The book, rich with examples and actionable insights, provides leaders with a roadmap to harness the power of narrative in fostering organizational change and innovation.

1. The Power of Storydoing

Key Point: Montague introduces the concept of “storydoing,” distinguishing it from mere “storytelling.” While storytelling involves conveying a narrative, storydoing integrates narrative into the core operations and actions of a company.

Example: Red Bull exemplifies storydoing by not just telling stories about extreme sports but actively engaging in them. Red Bull sponsors events like the Red Bull Air Race and creates multimedia content around these activities, embodying the brand’s adventurous spirit.

Action: Leaders can transition from storytelling to storydoing by aligning their company’s actions with their brand narrative. For instance, a company that promotes sustainability should adopt eco-friendly practices and encourage employees in environmental initiatives.

2. The Narrative Framework: Four Truths

Montague proposes a framework based on four quadrants: Truth, Narrative, Action, and Results.

Example: TOMS Shoes operates on the truth of social responsibility. Their narrative, “One for One,” ensures that for every pair of shoes sold, one pair is given to a person in need. This narrative drives their actions and results in significant social impact.

Action: Leaders should articulate their organization’s core truths and ensure that every action taken reflects these values. Regularly review and realign company initiatives to maintain consistency with the established narrative.

3. Purpose and Passion

Key Point: Successful storydoing leaders have a clear purpose and passion. This purpose permeates through the organization, driving engagement and innovation.

Example: Patagonia’s purpose is to save the planet. This commitment drives the company to pioneer sustainable business practices, actively participate in environmental activism, and encourage customers to buy fewer products.

Action: Define and communicate a clear purpose for your organization. Ensure it resonates with both employees and customers, and take actions that reflect this purpose daily. Host regular meetings to reinforce the company’s mission and celebrate initiatives that align with it.

4. Creating a Narrative Timeline

Key Point: Montague emphasizes the importance of a well-crafted narrative timeline. This timeline tells the company’s story, past, present, and future, guiding strategic decisions and stakeholder engagement.

Example: IBM’s narrative timeline showcases its evolution from a hardware manufacturer to a leader in AI and cognitive computing. This shift highlights IBM’s adaptability and forward-thinking approach.

Action: Develop a comprehensive timeline of your company’s history, highlighting key milestones and future goals. Share this timeline with stakeholders to build a cohesive understanding of the company’s journey and direction.

5. Engaging Employees through Storydoing

Key Point: Employees are more engaged when they understand and participate in the company’s narrative. Engaged employees are more productive, innovative, and loyal.

Example: Zappos engages employees by promoting a company culture based on customer service excellence and happiness. The Zappos narrative, focused on delivering “WOW” experiences, permeates through every level of the organization.

Action: Foster an environment where employees can actively participate in the company narrative. Regularly involve them in storytelling workshops and initiatives that reinforce their role in the narrative. Recognize and reward actions that align with the company’s story.

6. Customer Involvement

Key Point: Customers play a crucial role in storydoing. When customers participate in the company’s narrative, they become brand advocates, creating an authentic and powerful marketing force.

Example: LEGO’s use of user-generated content in its design contests and LEGO Ideas platform allows customers to contribute to product development, driving engagement and community-building.

Action: Create platforms and opportunities for customers to engage with and contribute to your company narrative. Launch social media campaigns, design contests, and feedback initiatives that encourage users to share their stories and experiences with your brand.

7. Measuring Success in Storydoing

Key Point: Traditional metrics may not fully capture the impact of storydoing. Montague suggests using a mix of quantitative and qualitative measures to assess success.

Example: Warby Parker tracks both sales and social metrics to measure the impact of its “Buy a Pair, Give a Pair” program, analyzing customer stories and satisfaction alongside revenue growth.

Action: Develop a balanced scorecard that includes financial performance, customer engagement, employee satisfaction, and social impact. Regularly review these metrics to assess the effectiveness of storydoing initiatives and adjust strategies as needed.

8. Overcoming Challenges in Storydoing

Key Point: Transitioning from storytelling to storydoing presents challenges, including internal resistance and the need for consistent communication.

Example: Coca-Cola faced challenges in shifting its narrative towards health and wellness but overcame these by committing to transparent communication and aligning product innovation with its new story.

Action: Anticipate and address potential obstacles by fostering open communication channels within the organization. Educate and train employees on the importance of the narrative shift and involve them in the transition process through workshops and feedback sessions.

Conclusion

In “True Story: How to Combine Story and Action to Transform Your Business,” Ty Montague illuminates the power of integrating narrative into business strategy. By transitioning from storytelling to storydoing, companies can create authentic, engaging, and purpose-driven business models. The book offers a mature framework and actionable insights for leaders looking to innovate and transform their organizations through the deliberate alignment of story and action. By adhering to the principles outlined in this book, businesses can not only tell better stories but also live them out in ways that foster deeper connections with both employees and customers, ultimately leading to sustainable growth and meaningful impact.