The Single Key to Business Success
When it comes to business, it's not just about making money. It’s about people. It’s about the compassion you have for others, as I’ve noted. It’s also about the respect you have for the public, your investors, and the folks that make business possible.
It’s why I believe in an open door policy. Transparency above all else is the key to success… especially in today’s world of mistrust, greed, and thievery we see all the time from all walks of life.
Uncertainty and doubt of business can – and will – lead to a significant loss of faith and trust. You can be selling kittens for all I care. But if you’re unfair about it, unwilling to open your books, there’s no trust. And without trust, there’s no business. That’s why it’s of upmost importance that leaders do their best to maintain and develop trust – internally and externally – with communication.
For me, I try to be personally transparent. It’s why I started this blog. I wanted to share thoughts, ideas, and share opinions on social media. I strive to be a transparent CEO with an open book, open door policy. Transparent companies make every one feel involved. You create a stronger team.
As Entrepreneur recently reported, “Across all industries, transparency has never been more important to a successful business model. Withholding or cleverly reshaping information is no longer a viable option for this new era of consumers who are savvier than any generation before them and for whom skepticism seems to be a default setting. In order to build brand loyalty, companies need to first build trust.”
“There's a common misconception out there about transparency. Far too often, companies see it only as a tool to be used when owning up to a mistake or righting a wrong. This approach is shortsighted and isn't an effective way to build trust. Customers will be far more forgiving of mistakes if a company has a history of being forthright with all interactions -- not just the negative ones.”