The Most Essential Tool Needed For Any Business To Succeed
Written by Kaye Pena - Associate Consultant @ Phil.Exeq May 29, 2017
In today’s hypercompetitive business environment, there is one tool that plays a critical role in ensuring business success. It is the tool that most business leaders would strive for. Communication. Yes, it’s free and unlimited. Business leaders make sure that strong and effective internal and external communication is in place within their organization. Otherwise, lack of proper communication can lead to negative and irreversible outcomes which can even lead the business to its downfall.
In this post, we will take a look at the importance of communication in your business and how it can accelerate your journey to success.
- Filter Bubble
Filter bubble refers to the phenomenon which happens when a website or search engine provides information to its users by utilizing user-based data like location, past click behavior, and search history on their algorithms. As a result, the users only receive or view information that agrees with their viewpoints, thus completely isolating them from other aspects of the real world.
The effects of this insidious problem are very visible these days –, especially in social media. Because of the personalization of news feed, millions of users these days are more susceptible to confirmation bias. This result for the users to be surrounded only by people similar to them and content they agree with. Ultimately, the danger this phenomenon can cause is a highly polarized population, creating harmful divisions in the society.
Beyond social media, this problem can also seep into the backbone of organizations and businesses. When the decision makers only see information based on their self-interest, overconfidence, and past experiences, they are more likely to make inaccurate judgments and bad decisions. The outcomes of decisions that are influenced by this phenomenon can be catastrophic, such as massive profit loss due to engaging in an unprofitable market.
However, when employees of a company is aligned through strong and effective communication with each other, a unified and well-informed company is established. A unified business is composed of people who share the same goals, and wherein everyone knows what their co-workers have on their plate.
By keeping in touch on a regular basis, a cooperative atmosphere will be cultivated and division across the organization is avoided. When the business leaders can communicate the company’s vision creatively and effectively, the workplace will become more motivated and their people are more likely to stay within the business in the long run.
- Giving and Receiving Feedback
Communication will only be effective when it is seen as two-way avenue where employees feel safe giving feedback on company’s procedures and policies. It instills an environment where all the people within the business are comfortable enough to speak with each other – even to management – without the fear of being criticized.
That level of comfort within the workplace can help employees be more confident in voicing out their ideas that can possibly help the business streamline its current process. Remember, a communication is not a communication if the management is the only one allowed to give feedback.
- Making Meetings Meaningful
Having a regular meeting is one thing, making it meaningful is another. While monthly meetings are a great venue for business owners to communicate their latest initiatives, they’re also the best time for employees to share their ideas – whether they’re big or small. As a business owner, you can never have too many ideas to sustain your company’s growth; you need to encourage your employees to share their thoughts without any fear as well so as to cultivate the culture of open sharing.
You may not know it, but perhaps your most introverted employees may have the best ideas that can make your operations more efficient, or have the winning product idea that can topple your competitors. Don’t ever underestimate the power of meetings to innovate your company especially if your people are excellent communicators!
Lastly, effective communications with customers are also as important as communication within the workplace. The good news is that this is easier to do nowadays, thanks to the plethora of digital platforms available such as social media, blogs, and instant messaging. These tools will not only help you promote your products, but provides you the opportunity to bring your company much closer to your most loyal customers as well.
Moreover, effective communication with customers ensures that they will remain happy with your service since they can communicate their needs with you and provide feedbacks on what you can do more to improve their experience with your business.
Ensuring that your customer’s suggestions are considered and are implemented accordingly will help build your reputation, and more people will be more willing to have business with you. This is supported by statistic which states that 81% of companies with strong capabilities and competencies for delivering great customer experience are outperforming their competition.
Overall, the benefits of effective communication in business are truly immeasurable, and it is impossible to reach any kind of success without it. Regardless of the size of your business, strong communication is one the aspect that you should always enforce. So, if you feel that your business is lacking strong communicators, there is no need to suffer from its damaging consequences. Call Phil. Exeq today and learn more about how we can help you find the right people with strong communication skills today.