Transparency can increase your team’s productivity and your business profitability. Discover how you can implement it in your business.
Susannah Dellinger, the owner of Bright Beauty Collective, had always been concerned with becoming transparent with her team. Particularly when it came to sharing business goals and financial targets.
She was hesitant to do so, thinking, “If they know of all this, will they ask for more money?”
But the longer Susannah thought about it, the more she realised how restrictive she was becoming. She knew she needed to trust that she chose the right people on her team – and that meant they deserved her trust as well.
Not only that, one of their company's core values is transparency. So, she needed to set an example and uphold that value.
And that’s what she did.
As it turned out, her fears were unfounded because her decision to be transparent led to a more productive and profitable team. In fact, it’s a decision that helped them reach a revenue of $30,000 in just one week.
Can you relate to Susannah’s story?
Because I can.
This is exactly what I experienced with my own team. I also held back on being transparent because I felt like if the team knew our revenue targets, they would ask for a raise.
And I know others share the same belief.
The truth is that it’s a normal feeling for business owners, but it can be very restrictive. So, it’s important to overcome it.
Keep reading because, in this article, you’ll learn about the importance of transparency and why moving from a mindset of ‘me’ to ‘we’ can lead to inclusivity and higher team productivity.
The Mission, Vision, and Values
Being transparent in your business starts with your mission, vision, and values.
Your mission is basically what you do and who you are as a company. It’s what you use to ground your business to what you set out to do.
Meanwhile, your vision is your destination. It’s where you envision your company to go in the future.
Finally, your values act as your guide to forming a team. It also helps you set the standards when it comes to the performance you expect from your team.
Needless to say, your mission, vision, and values should be shared with your team.
Unfortunately, not all business owners do this – especially when it comes to the company’s vision. That’s because some owners don’t even know where they’re going. But those who do know their vision don’t think they have to share it.
That’s a misconception that makes them miss out on a huge opportunity to be productive.
If you can give your team a vision of where you’re taking the business, they’ll have a bigger picture of the company’s future. Then, it’ll be easier for your team to act in alignment in pursuit of that vision. That’s one of the key strategies to make them more productive.
How to be More Transparent and Inclusive
When you’re transparent and inclusive in your company, your team will understand why you make decisions the way you do. And with every new rule that you impose or task that you ask them to do, they know the WHY behind it.
They also understand the purpose because they see the bigger picture. It’ll help you work in alignment with them, resulting in higher performance and productivity in your team.
So now, it’s time to answer the next question.
How can you be more transparent and inclusive?
The 3 Tips
Tip #1: Always Read the Mission Statement
Some business owners only show their team the company’s mission statement during the onboarding process. But I can guarantee that the new recruit will forget about that mission statement in no time. If you want to be more inclusive in your business, make sure everyone lives and breathes the mission statement. Read it as often as possible. In our case, we make it a habit to read the mission in our weekly team meetings. We assign someone to read it not just to remind us of the purpose of the business. It also keeps our meetings and discussions aligned with that mission.
Tip #2: Do Team Shoutouts Based on Values
Here’s an example of how team shoutouts work: Let’s say you have honesty as one of your values. Mention the names of team members whom you know practiced honesty. Or, if it’s resourcefulness, make sure those who showed resourcefulness get recognised. Why? The truth is that everyone wants to be recognised for their accomplishments. And by giving shoutouts to people who practice the company values, you encourage other team members to follow suit to get the same recognition.
Tip #3: Set a New Vision During the Planning Stage.
In our case, we discuss and update our vision during the annual team meeting. This is actually quite exciting for my team. In fact, I noticed that they really want to hear what the business will look like in the future because it helps them determine their own opportunity for growth. If they can see how the growth in the business can help them in their professional growth, they’ll be motivated to help you make it happen.
One thing that really helps us with this is our Same Pager™ tool. This is a 1-page document that shows the following:
- Best Seller
- “The thing that sells the thing”
- Company org chart
Create one for your company and make sure every team member has this memorised. It can serve as your company roadmap and will help everyone work in alignment.
It’s Time to Increase Productivity
If you want your company to be more profitable this year, it’s time to work on being more transparent and inclusive.
Share your mission, vision, and values repeatedly and make sure your team knows it by heart. To make it easier, you can use our Same Pager™ tool to help. This will help point everyone in the same direction – no matter what role or task they have in your business.
Are you ready to implement this in your business so your team can be more productive and profitable?
Schedule a free strategy session with one of our scale specialists. Book a call here: www.stacytuschl.com/call.