From pitching to briefing: Extending entrepreneurial storytelling to new audiences
Previous research emphasises storytelling as the means by which entrepreneurs gain stakeholder support. If new ventures are to survive and grow, they require the backing of a range of stakeholders. Yet the processes of storytelling that appealed to early-stage groups like investors may not attract later-stage audiences. This can pose obstacles to survivability and development. However, it is unclear how entrepreneurs learn about and garner the attention of future groups. To investigate this important phenomenon, we conduct a qualitative study of how entrepreneurs extend processes of storytelling to industry analysts, a key stakeholder group for digital ventures. We develop a model that conceptualises the way industry analysts probe and problematise the storytelling processes entrepreneurs put forward – which encourages their revision. Our key finding is that entrepreneurs struggle to move beyond the initial investor pitch and understand the expectations of industry analyst briefings. Still, they can repair connections with this audience through revising stories. We advance contributions to cultural entrepreneurship research on framing, audience expectations and story replotting.