When you think about a story, what comes to mind? Perhaps an enjoyable summer read, or maybe even a fable or fairytale. But a story doesn’t have to be confined to fiction alone. In fact, we tell stories every single day. How we see the past, how we envision the future – those are stories. How we convey a message, how we describe a product or service – those are stories as well. A pitch, a presentation, a plea – all stories. In fact, stories are a vital part of any business. And they are one of the most powerful tools you can use to engage your audience.

Stories go far beyond simply relaying facts and data. Stories emotionalize information. They give color and depth to otherwise bland material, and they allow people to connect with the message in a deeper, more meaningful way. Those potential customers can then connect with your product, service and your entire business in a more profound way.

Yet not all stories are equal. Simply telling a story that may elicit some emotion does not guarantee its efficacy. Tony sat down with his dear friend Peter Guber, the Chairman and CEO of Mandalay Entertainment, whose films have earned over $3 billion worldwide and 50 Academy Award nominations, to discuss the inherent power and ability a story has to shape the lives of others. Here’s what Peter had to say:

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