The 3 Areas of Entrepreneurial Transparency

by Alex Charfen
Share on facebook
Share on twitter
Share on linkedin

Transparency is one of the biggest buzzwords in business today. 

But in my opinion, it's importance can't be overstated.

Without transparency, leadership is untrustworthy, visions are compromised, and team disconnect occurs. 

So, let’s dive into what it takes to become a transparent leader. 

For over 20 years, I’ve consulted with the Fortune 500 and some of the top entrepreneurs in the world. Throughout the years, I found three areas of transparency that have proven to be vital for business owners, entrepreneurs, and leaders in general…

Self

One’s self is the foundation for a transparent life. Why? Because team alignment begins with the leader. Think about it – if a leader is unrealistic about the company's capabilities and goals, success will be extremely difficult to find. 

The thing is, transparent leaders are brutally honest with themselves. They have a clear understanding of the vision. They know which metrics matter for their business and they know what they can realistically expect from their team.

Others

Transparency with others means not only sharing the results you're looking for but why you're looking for them. 

Everyone should understand how the current strategy will ultimately achieve the vision. Team members should understand this vision, and they should fully appreciate the role they play in making it happen.

Here’s what you need to do – outline individual team member’s importance so that they know the specific result they're driving toward. Your Company There should be no secrets when it comes to the performance of your company.  All team members need to be fully aware of the company's financial successes and shortcomings. Because if they're not, you're playing a game without a scoreboard. And that’s a game you will lose every time.  It's the leader's responsibility to track metrics and financials daily. This is the only way for them to assess where things need to move forward and who can help make that happen. The thing is – when entrepreneurs fully embrace transparency in these three areas, their lives become easier, and their businesses become fully leveraged. I've seen it time and time again. Although this can be a hard habit to adopt, we're at our best when supported by a fully congruent team. The fastest way to build that is with transparent communication. If you need more guidance on these three areas of entrepreneurial transparency, reach out to my team and me at https://billionairecode.com.
Who Is Alex Charfen?
Connect With Our Community
The Billionaire Code Decoded
Free E-Book
Scroll to Top