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July 19, 2013 — A weekly look at Wyoming business questions from the Wyoming Small Business Development Center (WSBDC), part of WyomingEntrepreneur.Biz, a collection of business assistance programs at the University of Wyoming.
By Bruce Morse, WSBDC Region II director
“What is the most important thing to know about running a successful business?” Pete, Cody
Because I come from a financial background, I tend to lean toward understanding the financial side of the business. Others might say marketing; however, I think the single most important factor in any business, large or small, is communication.
When you think about it, we communicate in all facets of our business -- with vendors or suppliers, customers, employees, equity or funding partners and others. This dialogue can of course take many forms. It might be in writing, a radio ad, phone call, internal memo or email (or more often these days a text message) or the old-fashioned face-to-face conversation. It also could be a website, Facebook page, Twitter feed or newspaper copy.
But no matter what medium is used, we are still communicating. It’s important that we project the image and professionalism that is expected. With all the messages we are bombarded with daily, getting our message heard is often hard, but critical.
So, what if writing or communication is not your strong suit? I suggest that you have someone who is good at it and understands what you are trying to say. Review your text before publishing or hitting “send.” This might be overkill for some things, and you will need to make that call, but it could be important and possibly even cause or contribute to the failure of a business if done poorly. Even if you are pretty good, a second opinion or set of eyes is not a bad idea. I use this approach quite often myself.
If you have questions about this or other business topics, contact a local Wyoming Small Business Development Center.
A blog version of this article and an opportunity to post comments is available at http://www.wyomingentrepreneur.typepad.com/blog/.
The WSBDC is a partnership of the U.S. Small Business Administration, the Wyoming Business Council and the University of Wyoming. To ask a question, call 1-800-348-5194, email email@example.com or write 1000 E. University Ave., Dept. 3922, Laramie, WY, 82071-3922.