Let Your People Know

Summary

• I believe that transparency is crucial in a company, just like the biggest publicly traded companies do.
• Every employee should have access to all the important information about the company, such as financials, conversion rates, and profit margins.
• It is an irrational fear to think that no one should know about your business details.
• The more people who know everything, the more people there are who can help solve problems.
• Sharing this information empowers others to contribute effectively to the success of the business.

Video

How To Take Action

I would suggest implementing transparency in your business. Share key information like financials, conversion rates, and profit margins with your team. When everyone knows the details, they can better understand the business and help solve problems together. This openness turns employees into allies who care about the success of the company.

A good way of doing this is having a regular meeting where you go over the numbers. You could use a simple spreadsheet or presentation. Make sure everyone knows where the company stands and what challenges you're facing. This doesn't cost much to do, just a bit of time and honesty.

Encourage your team to ask questions and contribute ideas. When they see the bigger picture, they might think of solutions you haven't considered. This helps create a supportive environment where everyone feels like they're an important part of the business.

Lastly, be patient and keep the communication open. It might be new for them to see so much information, but over time, they'll get used to it and start contributing more. This change won't happen overnight, but it's super valuable for building a strong, collaborative team.

Full Transcript

guess what the biggest companies in the world are publicly traded every single employee can see every single thing you could possibly imagine about the company and yet they still function it is 100% an irrational fear that entrepreneurs keep by thinking that no one should know you want everyone to know the same stuff financials the conversion rates how we make money the profit margins because the more people who know everything the more people who can help me solve the problems