Transcript excerpt of Bret Taylor explaining the critical role of storytelling for entrepreneurs: storytelling is essential for fundraising, recruiting talent, and defining a company's North Star. He emphasizes the need to articulate why the company exists to improve recruiting and fundraising and to guide product purpose.
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I think it's something that I didn't appreciate when I started my first company was how important storytelling is to being an entrepreneur. You tell a story when you go to raise money. You tell a story when you're trying to convince a very highly paid Google engineer to leave their very highly paid job to come to your high risk startup. So much of being starting a company is getting good at storytelling and having people internalize that story and be convinced by that story. It doesn't mean you have to be a great speaker. It just means that you really should understand why does this exist? Why should this exist? Why is it important? And, and if you can't articulate it, you should figure out how to articulate it because it will improve your recruiting, it will improve your fund magazine. It's also important to know why you exist. That's your North Star, right? Like that's why you're making the product that you're making. And it's something that I've worked on a lot over the years and I think recruiting is probably the best way to test that. Fundamentally we're asking another really talented person to take a leap of faith towards something high risk. And that is it really can make or break a company's success.