Starting a new business can be a long and trying process. It can also be expensive and it may take some time before the business becomes profitable. However, it is important to stay true to your business. You started the business with a particular goal in mind and with particular products. You developed this great business plan based on those goals and ideas. Maybe you even attracted investors with those ideas. And, actually, things are going well. Then it happens. This great new product comes your way. It has nothing to do with your current business, but it has great profit potential. So, you decide to add it to you current line of products.
Suddenly everyone is confused. These new products have nothing in common with the old ones. Your customers can't quite figure out what is going on. If you have distributors or sales people in your business, they are confused as well. Their customer-base wasn't developed with these products in mind. In fact, their customer base was developed with totally different products and ideas. Even though you are still selling your original product, the addition of the totally new and totally unrelated product can throw doubts into people's minds. Is this company eventually going to stop making the product I like? Why do they have this new product? Is the company going to change completely?
Why add something totally unrelated to a successful business? Why not start another company for those products? You can certainly offer both to your customers and distributors, and you can even use the same successful business model for the new company that you used for your original company. By keeping them separate, you eliminate a lot of the confusion and questioning. The new products that you added may not be in compatible with the reasons that someone buys your products. For example, if you are a health and wellness company and you suddenly decide to sell tires, that is certainly going to be confusing to people.
People certainly understand when a company wants to take advantage of a new opportunity, but they also worry about losing the good thing they already have. Stay true to your mission and who you are and the profits will follow.
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Copyright (c) 2009 Soaring Eagle Companies LLC
In a new business there are always lots of things going on. At least, there should be if things are moving along. If you are the only one involved in your business then communication is easy—you just look at yourself in the mirror every morning. But it is far more likely that there are several people involved. These people may be anything from investors to vendors to employees. The more people you have involved, the more effective communication becomes essential.
Effective communication means several things. It means that you are actually communicating what you want to communicate. In other words, you are clear and everyone understands what you are saying. Second, it means that you are reaching everyone that you need to reach and you have someway to confirm that they actually did get the message. Third, everyone is actually getting the message. They are either reading the message, listening to it, or watching it. If, for some reason, they didn't understand the message or they have questions, they know how to get clarification. Effective communication can be particularly challenging when everyone is in different parts of the country, but it is also even more important in those circumstances. Nothing is more disturbing than sitting you home office 1,000 miles away from the main office and not hearing anything for days at a time.
Following up on a message is also critical. You send out a message, everyone gets it, everyone understands it. If the message indicates that you will be doing something in the future, you have to be absolutely sure that you follow-up and do whatever it was you said you would do. If you have to change the plan, you need to communicate that change as soon as possible.
If there are problems of any kind that affect people, the business, or anyone associated with the business, you need to communicate those problems and the reasons for them, as much as you can. There is nothing worse than being in the dark. Lack of communication about problems or potential problems can lead to rumors, and panic. The last thing any new business (or any business for that matter) is fear. Fear in business is almost always the result of rumors and lack of communication.
Communication from the top keeps people from speculating. If you hear a rumor, be sure to address it immediately. If you ignore rumors they can spread like a weeds and take on a life of their own. More than one company has been destroyed by the rumor mill.
It is very easy to get caught up in the day-to-day issues involved in running a business and just feel like you are too busy to talk (or communicate) with anyone. By keeping the lines of communication open, effectively communicating and listening, you can keep you business on track and the people associated with your business engaged and involved in a positive way.
Robin Rushlo has sinced written about articles on various topics from Marketing and Communications, Internet Marketing and Coffee Advantages. "Dr. Robin", the well known MLM Radio personality is and has built his "honorary" doctorate in the Network Marketing world and has had experience in numerous other network marketing companies. He is a nationally recognized expert in the network marketing. Robin Rushlo's top article generates over 110000 views. to your Favourites.