According to a recent Investopedia article, one of the biggest reasons new businesses fail is inadequate management. When talking about an inadequate manager, the first thing that usually comes to mind, especially when dealing with a new business, is a person who does not know about the industry or knows very little about it. A subpar manager can also be an individual with no vision or no acumen to deal with the daily challenges that arise when starting a new enterprise from the ground up.
One item often overlooked is communication, specifically problems with communication, or simply a lack thereof. Like most things in life, success is usually achieved through the building of relationships-meaningful, long-lasting relationships that push a family, a friendship, and also an organization forward. These relationships are built through communication, which is their essence and bedrock. Without proper communication, any relationship is doomed to fail even before it begins.
Having said that, let us look at some ways new businesses can both maximize their communication efficiency and eliminate unnecessary communication-related challenges that will not only hinder a new organization’s success but also create avoidable hiccups in the future of the enterprise.
Having the Right Tools
In terms of communication tools, there are dozens, maybe hundreds, of things that might pop into our heads. These include email, social media, videoconferencing systems such as Zoom, Skype, and Google Meet, as well as on-the-go, mobile business communication platforms such as Slack, Dropbox, and SharePoint.
But while these and other software-based tools are incredibly important, what we sometimes fail to recognize is that having the right hardware is just as valuable. Similar to software, there are also plentiful hardware communication tools available. Nonetheless, as far as a new business is concerned, it all starts with a proper IP Phone, be it an entry-level VoIP machine from your local vendor or a state-of-the-art PBX system from Zycoo for thriving small- to medium-sized organizations.
A proper IP PBX system will not only help you manage your calls through a safe, easily accessible data network environment, but it will also provide a wide variety of other benefits that will save time, increase efficiency, and assist new organizations in aligning employees toward a common goal.
How Often, How Much, What Kind
Another key aspect to focus on when starting a new business is feedback and training. As we are all probably aware, there are different schools of thought regarding feedback and ample advice out there to consider. While some believe that “the more the merrier “works best, especially with new employees and a fast-paced environment with constant change, others prefer a time-based approach such as giving weekly, monthly, bi-monthly, or quarterly feedback.
A third group falls into the category of “feedback only when necessary” or “feedback only when there are mistakes” proposition. Whatever your decision may be, keep in mind the importance of consistency and expectations. If your employees know what they can expect from their feedback and how often they will get it, they will be much more open to it. Also, remember that good feedback is once again based on good communication, both at manager-manager and at manager-employee levels.
The same goes for training. The type of training you provide as well as the frequency with which you provide it will both determine the level of motivation of your staff and help your business thrive while at the same time preventing high turnover ratios. One of the biggest reasons employees quit or underperform within an organization is the feeling of being “stale,” the lack of growth.
This is predominantly true in new enterprises. If employees feel that they are not learning anything or that their job is incredibly boring and repetitive, they will certainly move elsewhere, especially if they are working within a new company with little brand recognition.
Establishing Proper Communication Channels
Lastly, for a new business to excel, it is of utmost importance to establish proper communication channels from the start. With larger, more established organizations, it is often clear who the supervisor is and how to communicate with them. For startups, on the other hand, communication channels might still be in their infancy, and proper communication hierarchies will probably be fuzzy to most. As a result, it is important to establish clear guidelines on how employees can and should communicate not only with their bosses but also between themselves.
As we have seen, there are many challenges when starting a new business, communication being at its core. However, if the new organization has the proper tools and the right amount and frequency of feedback and training, and if the proper communication channels are established, the enterprise will surely succeed.
