Telling Your Startup Story with ABS
And, But, So...
After five exhilarating years teaching Startup Garage at Stanford GSB, reviewing thousands of pitches at Techstars, and countless investment decisions as both VC and angel investor, I've concluded that great pitches combine two essential ingredients: hard numbers AND a compelling story. BUT while numbers are hard to change before a pitch, few founders master a storytelling structure that actually influences investors. SO, I'm sharing my framework for using three simple conjunctions to transform how you communicate your startup's vision—part of my goal to help founders discover those small but significant insights that win the startup game.
Knowledge tip: If an investor doesn’t understand what you do, there's a 0% chance they'll invest in you. So let's start by making sure your story helps investors understand what you do, and why it matters.
The Power of Storytelling in Pitches
Humans are hardwired for stories. From ancient myths to modern blockbusters, storytelling follows predictable patterns that satisfy our deep psychological need for narrative structure. The most enduring stories - from Odysseus battling sea monsters to Luke Skywalker confronting Darth Vader - follow the hero's journey archetype: a protagonist faces challenges, overcomes obstacles, and emerges transformed.
I have found that founders often times don’t know to their pitch should follow this same proven formula. Most investors - including me, see a lot of pitches, so don’t make us think. You're not just presenting information; you're telling the story of how your company heroically solves meaningful problems. So make it easy to follow by pitching your company with ABS; And. But. So.
Pitching with ABS
The simplest way to tell a story is with coordinating conjunctions (technically there are 7 in the English language - for, and, nor, but, or, yet, so), and structuring a compelling pitch is no different:
A = And (Setting the scene)
B = But (Introducing the obstacle)
S = So (Revealing the solution)
This approach creates a reliable, natural storytelling flow that anyone can follow, whether the pitch is 5 seconds or 50 minutes.
The Hero's Journey in Classic Narratives
This structure mirrors classic storytelling patterns:
In "The Odyssey," Odysseus is distraught (AND) he wants to return home to Ithaca (BUT) the gods and monsters block his path, (SO) he uses wit and courage to overcome these obstacles and reunite with his family.
In "Star Wars," Luke Skywalker is bored (AND) he wants to experience adventures beyond his farm, (BUT) the Empire threatens the galaxy with annihilation, (SO) he joins the Rebellion and becomes a Jedi to restore freedom.
In “Moana,” Moana is curious (AND) she wants to save her island from famine, (BUT) she is fearful of her own insecurities, (SO) she embarks on a journey to discover herself, restore the heart of Te-Fiti and save her island.
ABS in Action: Food Delivery
Let's see how this works with a real-world example from the food delivery space (because I am acutely familiar with this one):
Restaurants are frustrated by constrained ordering channels (I like to start with the emotional state of the user or customer)
AND: they want to grow their orders online.
BUT: It's very difficult for them to build a site where they can receive and manage orders.
SO: We built Grubhub to make it easy for any restaurant to build an online presence and immediately start taking orders.
In the case of Doordash:
Restaurants are burdened with excess kitchen capacity,
AND: they want to turn their kitchen capacity into more revenue.
BUT: they are constrained by their location footprint and a limited service area.
SO: We created Doordash to make it easy for any restaurant to expand their diner footprint and service area with seamless food delivery on-demand.
In just three sentences, this pitch establishes the target customer, their core problem, and how the solution creates value. It's concise yet complete.
Why ABS Works
The ABS framework works because it:
Creates immediate clarity about who benefits and how
Establishes tension that demands resolution
Delivers a satisfying conclusion that positions your company as the hero
Investors need to quickly understand:
Who needs your solution
Why existing approaches fall short
How your unique approach creates value
Scaling Your Story
The beauty of the ABS framework is its scalability. It works equally well for:
A 30-second elevator pitch
A 30-minute investor presentation
An hour-long customer demo
For a full pitch deck, you might dedicate:
Two slides to the "AND" (market analysis, customer needs)
Three slides to the "BUT" (obstacles, failed approaches)
Five slides to the "SO" (your solution, competitive advantages, business model)
Perfect Your ABS
When crafting your pitch:
Make the "AND" relatable (everyone understands the desire)
Ensure the "BUT" feels genuinely problematic (create tension)
Deliver a "SO" that feels inevitable yet innovative (your unique solution)
Remember, a strong pitch doesn't just communicate information—it tells a compelling story with your customer as the hero and your product as the magical tool that helps them succeed.
By mastering my ABS framework, you can transform complicated business concepts into intuitive narratives that stick in the minds of investors and customers, dramatically increasing your chances of connecting, engaging, and ultimately, securing investment. #knowledge-arbitrage