The value of voice

In real estate, they say the three most important factors are "location, location, location." In business, they are "communication, communication, communication."\nGreat communication skills are what separate the average businessman from the great businessman. More specifically, it is the people with a great handle on both verbal and written communication skills who become the VPs and partners at top companies.\nOne of the things I found surprising when I came to the business school is the lack of focus on communication skills. In fact, a student can graduate from the Kelley School of Business having taken only one class in communications. Sure, there are projects in different classes that require presentation skills, but they are few and far between. Communication skill progression should be a major focus in the development of a businessman, not an afterthought.\nOne of the best decisions I made in my collegiate career was deciding to take an optional business presentations class taught by Professor Jeanette Heidewald. This class helped me gain confidence in presenting and communicating in both the academic and business world.\nI have done many group projects, some with other students who have taken a business presentation class, and some with students who have not. The difference in the skill levels of these students is monumental. By not developing their presentation and communication skills, students are severely limiting their future success. \nEqually as important is a student's written communication skills. It is appalling to see the low level of writing skills of many Kelley students. If the Kelley school hopes to continue to compete with Ivy League schools, it is critical that the school place a larger emphasis on writing skills.\nCorporations continue to rate soft skills significantly higher than GPA and technical skills. Business schools across the country have been slow to adapt to the demand of these companies. \nStudents who cannot communicate effectively are setting themselves up for what I call the $150,000 ceiling. My theory is that purely technical skills can make you a maximum of $150,000 a year (there are, of course, exceptions). No, this doesn't mean that you will make $150,000 if you have only technical skills. This means that if you are a master in some technical skill, $150,000 is the most you can hope to make.\nSure, some of you may be happy with this amount of money. However, it is important to understand that with purely technical skills, you will have a very limited effect on a company and you will never live up to your full potential. \nMore than this, if you have purely technical skills, you had better hope that technology doesn't change, because you will be out of your job very quickly.\nIt is always entertaining to see students in the business school that do not understand how different the academic world is from the business world. I'm talking about the straight A students that do not take the time to work on their soft skills. These students think they can achieve success in the business world because they have learned how to get good grades. In the old days, these students annoyed me, but now I almost feel bad for them. I assure you: there will be a market correction when these students graduate and head out into the real world.\nCommunication skills are skills that can be taught and developed. People are not born with great communication skills; it is their environment and experiences that determine their skill levels. While I am not an expert communicator, I must say I am pretty good. This is because I have taken the time to speak to a lot of different people. I talk to everyone, irregardless of how old they are, what they look like and how much money they have. \nThis is why diversity is so crucial. Diversity leads to adaptability and adaptability leads to higher likeability, which leads to big money positions. CEOs and entrepreneurs must be very adaptable because they deal with many different personalities and people that have different backgrounds.\nThe best way to improve your communication skills is to talk with as many different people as possible. On average, I try to speak to at least six new individuals in a given week. Try to strike up conversations with people that are different than you and you just might learn something. Even more importantly, you will soon realize that you are able to communicate more effectively with different types of people.\nCollege may be your last great opportunity to communicate with people of different ethnic and religious backgrounds. Today is a great opportunity to improve your communication skills and make yourself more adaptable. Take advantage of this opportunity and break that $150,000 ceiling. You can thank me later.