Communication as a concept is discussed across different spheres of human endeavours, it has and still plays a vital role in the success or failures of various institutions and businesses. As a recipe for success, effective communication is one concept that cannot be ignored in building a business.
To understand the role of communication in business especially for SMEs and start-ups, we must define the concept.
Communication simply put, is the exchange of information, thoughts, facts, and opinions between parties either by writing, speaking, or through other media that is accessible and understandable to the other party.
What role does communication play in business growth and development?
Communication plays a key role in the survival, growth, and success of every business. Contrary to popular beliefs, communication – not money or the business idea forms the core foundation of every successful business. Like the heart, this is the major organ that pumps and ensures the supply and proper utilization of the other factors required for the successful operation of a business.
In the early stages of every business especially for start-ups and SMEs, it is pertinent to layout a solid foundational blueprint for the business by clearly and properly defining the brands’ message and how best to communicate this message to the necessary stakeholders. This exercise is continuous in the lifecycle of the business, as the survival and growth of the business depend on it.
In what areas are effective communication most required in a business?
The need to effectively communicate is necessary for all areas of a business, from team formation and motivation to marketing, from the initiation of sales deals to closing contracts, making negotiations, and reporting to different stakeholders in the business. Your ability to develop a communication strategy that effectively transcends your vision, dreams, and value structure across board to the parties involved, goes a long way in determining the level of growth and success achievable by your business.
For communication to effectively bring about growth for your business, you have to;
- Have a clear brand message and strategy to pass across this message
- Understand the needs of your clients
- Speak in the different languages of the different parties involved in your business – employees, customers, investors, etc.
- Channel your message through the media they are familiar with.
- Never assume they understand your goal, ask questions, and adopt new strategies that work in a case the former does not do the job.