The story and the storyteller: Strategic storytelling that gets human attention for entrepreneurs

As a captivating way to engage, inform, and persuade one's audiences, storytelling can serve as a strategic skill in an entrepreneur's arsenal. Although en-trepreneurs often use storytelling to mobilize financial resources from external stakeholders, less attention has been paid to how entrepreneurs can leverage this powerful tool to gain strategic partnerships. As such, there is little practical guid-ance on utilizing storytelling to gain a competitive advantage. In this article, we use wisdom from the academic and practical world to illuminate the science of story-telling, identify the type of stories that entrepreneurs may narrate (or refrain from telling), and understand the mechanism through which stories engage and persuade external stakeholders. We also highlight Freytag's Dramatic Arc, which can teach entrepreneurs how to frame profound stories that gain attention from external stakeholders. We offer practical guidelines for entrepreneurs interested in learning and harnessing the power of compelling storytelling for strategic partnerships.(c) 2023 Kelley School of Business, Indiana University. Published by Elsevier Inc. All rights reserved.