What if Simple Stories Were The Secrets of Mega Millionaires?
This story originally appeared in my book club. Since I recently sold the company I launched at 19 years old — we did $5m in sales and raised $2.5m in VC- I’ve shifted my focus to reading a book a day. Join my book club now to see what a 26 year old with one exit under his belt is reading.
I sat down in the 5th row back expecting to blend in to the audience and avoid direct questions from the presenters. I turned to my neighbor, shook his hand, and said “I’m Nathan.”
“I’m Peter.”
“What do you do Peter?”
“I was CEO of Sony.” (I thought he was kidding)
“Really? What else do you do?”
“I am currently CEO of Mandalay Entertainment, recently bough the Golden State Warriors, and produced the movie Batman.”
I hadn’t heard of Peter Guber before so I had no idea what he looked like and was setting myself up for real embarrassment….
The conversation ended when Peter said: “I need to go find Troy Carter- Lady Gaga’s manager”. He’s interviewing me and we are about to start.
Naturally I was embarrassed then proceeded to study the hell out of Peter’s entire life. His best-selling book “Tell to Win” was the start of my studying his life.
Click here to buy the book on Amazon and read along if you’re a true go-getter.
3 lessons I took from Tell To Win:
Lesson 1: Michael Jackson Teaches Peter Guber the Art of Story With MJ’s Snake
In 1991 after MJ signed $65m deal with Sony it wanted to produce as well as act. That meant telling stories and Guber wondered if he could do it.
In both films and music, MJ said, you have to know where the drama is and how to present it. Let me show you!
He led Guber upstairs and stopped in front of a huge glass terrarium to show him “Muscles”.
Coiled up inside was a massive snake around a tree brand. His head was tracking something in the other corner of the terrarium.
MJ pointed at the mouse.
“Are they friends” said Guber?
“Do they look it?”
“No. The mouse is trembling.”
MJ said, “we have to feed Muscles live mice, otherwise he won’t eat. Dead ones don’t get his attention.”
“So why doesn’t he just go ahead and eat it?”
He said, “because he enjoys the game. First he uses fear to get the mouse’s attention, then he waits, building tension. Finally, when the mouse is so terrified it can’t move, Muscles will move in.”
The snake had the attention of the mouse and the mouse had the attention of the snake. MJ had Guber’s attention.
That’s drama.
What’s going to happen next? Even if you know what it is, you don’t know how or when.
The more you get your audience wondering what will happen, the more they will pay attention.
Lesson 2: Two Words And Story Get Larry King to Stay With CNN Despite Lower Contract Value
Larry King was being wooed away from CNN by Peter Guber. When Larry tried to walk away from CNN CEO Ted Turner, Turner said:
“Just tell me, Good-bye”, Larry.
Turner knew that the story running Larry’s life was dominated by the untimely death of his father. Deep down, Larry always felt his father was disloyal for leaving him when he was young. Turner knew Larry had issues with disloyalty.
By pushing the emotion button nested in that backstory, Ted ruled the day and kept the Larry King Live show.
These two words, Good Bye, made Larry King accept a deal with CNN that was ½ what Guber was offering him to leave CNN.
Leverage the backstory that rules your listener, it can be a powerful ally.
Lesson 3: Jacki Kennedy, Her Pearls, and Millions of Profit
In 1996 Sotheby’s was auctioning off a string of imitation pearls from the estate of Jacqueline Kennedy Onassis.
Lynda Resnick wanted to own the pearls so she could own the story. She had to first convince her husband that the likely selling price, $25,000 was worth it.
She showed her husband how Jacqueline wore the pearls in nearly every picture taken of her at the white house.
Immediately he got it: “Any woman who wore an exact replica of these pearls would feel as if she were channeling the queen of America’s Camelot.”
What Lynda was really buying was the story of Jackie.
The Resnicks paid $211,000 for the pearls at the auction.
Lynda went on to sell more than 130,000 exact replicas at $200 apiece for a net profit of millions — all of it told and sold through story.
Own a genuine story, tell it over and over, and profit handsomely.
In summary, remember these things next time you want to convince someone to do something for you, or buy something from you.
Here’s how to build a story:
- Get your listeners attention with an unexpected challenge or question
- Give listeners emotional experience by narrating the struggle to overcome that challenge or to find the answer to the opening question
- Galvanize your listeners response with an eye opening resolution that calls them to action and remember narrative emerges from violations to expectations
Click here to buy the book on Amazon and read along. The book costs $20 but I’ve already made over $2400 from Peter’s lessons.
Hey there! Quick favor: if you click that heart button below, it means more people will see these lessons for free. Would mean the world to me. Thanks! -NL :)
