Communication Skills for Entrepreneurs

It is said that you are what you communicate and how you communicate. The way an individual communicates reveals a lot about his/her personality. Though, it looks like a cliché that a good communication matters because it is the ability to communicate the idea that decides whether the idea is good or bad, it needs to be reemphasized. Especially, for start ups and entrepreneurs communication matters a lot, since in the initial years of the start up, it is the communication of an individual which becomes decisive in many aspects of entrepreneurial process, be it souring finance, getting new customers for business, convincing the bankers or venture capitalists or roping in talent to manage the business.

Well, what is needed in terms of learning about business communication for entrepreneurs is beyond writing reports, memos or the summaries. What is truly needed for the entrepreneurs in communication is how to make an effective argument in the business setting? How to identify key points for effective communication? And very important how to create and deliver engaging presentations that create impact? There is a need to develop communication skills to engage an audience that could be distracted, busy or may not pay attention to what the person wants to say. Without these skills, it becomes very difficult to sell the initial ideas or project to an entrepreneur.

The skill needed is the ability to communicate and present a complex argument or proposition in a concise and succinct manner. The ability to manage both planned and unplanned presentation and discussions comes very handy to the entrepreneurs in different situations, especially in the initial days of start up phase. Ability to communicate with people at all levels and also the flair to adjust the communication style to suit the situation is one of the most important skills for entrepreneurs. However, it is very important to structure and compose ideas before they are presented. KISS principle – keep it short and simple surely helps, but one can also look at other basic principles like; be brief and to the point, prioritize the points, use persuasive and convincing language and finally ensure that the communication has enough flexibility to absorb any kind of change needed in the delivery. However, in a business setting, the most important principle for effective communication is the sequencing of the thought process or the arrangement of ideas; be it a power point presentation, a covering letter, an introductory letter or a proposal.

The sequencing of the ideas and creating the arguments to support the principal idea is what separates an effective communication from the ineffective and so the effective entrepreneurs from the ineffective entrepreneurs. Some people have found Minto Pyramid principle developed by Barabara Minto very useful for effective communication. The Minto Pyramid model of the communication is based on the foundation that there should be a main theme in any communication at the top, that can be supported by the group of ideas and finally it should be reinforced by the facts, data and other logical arguments and thus any communication would have three tier approach and making it like a pyramid. Using this simple yet very effective way, entrepreneurs can surely develop any communication a project proposal or a power point presentation, both written as well as verbal for enhancing their effectiveness.

Leading entrepreneurship education, research and training institutes like Entrepreneurship Development Institute, India have always understood the importance of developing such skills and it has been included in the mainstream curriculum for long duration programs. Besides communication skills, other important business skills like negotiation skills are considered as key business skill at Entrepreneurship Development Institute, India.

Dr. Rajiv Joshi

Associate Sr. Faculty, EDI