Communication is key as you grow

Here at InvestR we have a large portfolio of companies and we are always looking to add even more to our family.

The approach has always been to diversify as much as possible and we are constantly on the look-out for new investment opportunities.

But having a large organisation with many different operations and businesses brings with it plenty of challenges and difficulties.

There is nothing wrong with the principles behind diversification and having a number of different businesses can be incredibly exciting and personally demanding but in order for it to work for everyone involved you need to make sure there are plenty of checks and balances in place.

It stands to reason that the bigger and more diverse any business or organisation grows the greater the demands are placed on the senior management team.

It can be a tough call to be constantly keeping an eye on all the organisations and individuals involved in a diverse operation such as ours. After all if you take your eye off the ball in business then things can start to go wrong very quickly.

The first thing to do is to have the right procedures and company ethos in place. Even though there may be a wide range of different companies within a single operation everyone should be working together in the same direction.

Every individual involved should share the same principles and values and understand exactly what is expected from them at all times. There needs to be a clear and unchanging message from the very top and throughout the organisation.

And there also needs to clear lines of communication between the senior management team and people in key positions.

A clear and consistent message needs to come from the top so people on every level of the organisation know what is expected from them.

At the same time every member of staff should understand that they can get their voices heard.

If you fail to have open lines of communication then you run the risk of people feeling isolated and separate from the rest of the organisation.

Finally and perhaps most important of all it is vital to have direct communication at the top level of the organisation.

A chief executive with a large number of commitments needs to be able to talk directly to his or her management teams.

There should be a system which means that the managers and directors of the various arms of the organisation report directly and regularly to the top tier of management.

If you do not have those direct channels of communication open at all times then there is a real danger that an organisation can lose its focus, shared vision, principles  and sense of direction.