The Importance of Communication

In any relationship, for it to be successful, have longevity, grow and flourish there needs to be good, clear, concise and candid communication throughout.

Communication is sharing insights, information, voicing criticism, articulating risks, conveying strategy and expressing approval or praise. No cohesive entity can exist without clear and honest dialogue, and although there are many extrinsic factors which contribute to the success collapse of a relationship, group or business the root cause is a lack of knowledge, mistrust, or a mistake and if scrutinized closely the clues and circumstances of any collapse large or small is due to ineffective communication.

Great communication is also the hallmark of every successful business, whether it is conducted internally, sharing information with direct partners or employees or externally with clients, investors or customers. Articulating a position, product, strategic move etc. are all of paramount importance. Great companies do this extremely well.

Without going into all the details and examples of instances where communication is essential in business, it is easy to ascertain that the most successful, influential and long-lasting business out there are masters of communication, transparency and effective messaging.

Successful brands do not shy away from properly expressing themselves. There are 2 forms of communication in the world of business, public; this consists of branding, expressing their mission, advertising, impact on the community, or in private; to staff, shareholders and partners.

Public communication done well manifests in effectively showcasing who or what the brand is or stands for. What is the business trying to change or accomplish, persuade their audience to do, or shake up the status quo? Great companies can articulate who they are, what they do, and who they are here to help. They accomplish this by being able to transparently showcase their brand or business. Transparency comes from accuracy and accuracy is rooted in honesty. Laying bare unapologetically what the brand is or the mission it is set out to accomplish always resonates well with the consumer who can sense authenticity and in today’s world is hyper skeptical, with the ability to fact-check claims or gimmicks and alternatives in real time puts all the more emphasis on effectively communicating clearly, concisely and honestly to the desired audience.

Private communication is conducted internally, within the business. The best brands who have been able to withstand the tests of time, financial crises, revolutions culturally and politically and fend off direct competitors are all masters of processing information, distributing it effectively and moving forward with innovative action are deeply rooted in sound communication practices. Strong businesses are transparent about their finances and investments with shareholders or other entities with vested interest in the business. Company executives and managers can retain staff and strategic partners through effectively articulating the vision of the business as well as treating partners fairly and with respect on a personal level.

Often times, it’s internal communication that results in the downfall or causes limit to a business. Not sharing information with the right people or a lack of expression are viruses which can spread to pandemic level within an organization in a blink of an eye and once infected it’s almost too late to stop.

The reason for such instances is often due to personal aversion, mistrust or lack of awareness from individuals within a business. Could be between staff or executives, to a supplier, an investor, or unsatisfactory data on sales or logistics coming in. These types of issues which small business owners and staff regularly face are so often unfortunately not addressed or attempted to resolved through straightforward communication. Instead, issues are left to fester or are swept under the rug until they somehow pan out in the future.

By contrast, the successful businesses and top entrepreneurs we strive to replicate make certain that all instances, good and bad, are communicated swiftly and effectively to the right personnel.

So why does this occur and how can we make sure to be as communicative as possible? Firstly, most individuals are non-confrontational and adverse to negativity or stress. It’s natural, say a large order comes in or an employee is underperforming at work these circumstances all require immense amounts of energy to address and often as humans tough situations are put off till later and can be processed by our minds to be perceived as trivial in the moment when in fact they are of a high degree of urgency.

Best practice is to study how the most successful entrepreneurs or business owners operate. One key take away from them is to act quickly.

By addressing circumstances as soon as they occur you eliminate any possibility of them growing into a larger problem. Even if they seem mundane, such as answering a request or an email quickly, you are always staying one step ahead of any extrinsic factors which affect your business, even if that action or response is not of the greatest quality, it is of far better value than standing idle.

A quote from Gen. Patton famously rings true to this subject “A good plan executed now is better than a perfect plan executed next week.” Action trumps inaction in every case, get ahead of the game if you want to stay in it. Don’t forget the small things, a quick response, a nod of appreciation, a good morning, all go a very long way to attaining the longevity your business strives for and deserves.

To gain personalized guidance for your business on this topic and others contact us.

- Vince Calace

Founder - Venture Business Development