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The First Step: How to build an effective narrative when launching a new company

In this episode, our host Chris Denson talks to Rene Lammers, Chief Science Officer at PepsiCo, and Erik Roth, Senior Partner at McKinsey and Company. They discuss the critical importance of messaging when building a new business.

The First Step: How to build an effective narrative when launching a new company

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HIGHLIGHTS FROM THE PODCAST:

(Portions of this have been edited for clarity)

Chris Denson:

You’ve obviously had a lot of experience building [businesses], and I think one of the more important parts of the process in building, is how you communicate the ideas that are foundational to what you’re making. In your experience, how have you found messaging to be part of the process and the journey in building new digital businesses?

Erik Roth:

Your question on the messaging is a really important one because, all too often, we see businesses that are not really focused on a specific outcome or achieving a North Star. And, there’s a little bit of a difference between a business that’s being created inside a larger organization and a pure startup, and so we should differentiate the two. But, if we take the first case, a big company creating something brand new in terms of a business, way too often, we don’t see the North Star. What is the business supposed to look like in five and ten years? How big should it be? What kinds of opportunities should it be focused on? What valuable problems is it meant to solve and for whom? for which sets of customers? These are big strategic questions that often get unanswered or are not answered well. Usually they just dive in and start building stuff, and that’s where we often see less than positive outcomes.

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