Transparency – one of the strongest, most used terms in business today. The condition of being transparent, which by definition means, “made visible by light shining through.”
Transparency in business has become a standard by which we define ourselves in how we communicate, negotiate, and operate. For this reason, businesses in all industries are starting to claim transparency in some form or fashion. Let’s dive into some examples.
Examples of Transparency
Some organizations go to great lengths to reveal the cost and location of where their goods are produced. While this might seem foolish or even stupid, this has become very popular in the fashion world as consumers become more concerned with labor laws and materials. People place much higher value on this than they did 10 or 20 years ago… so think twice before you slap a “Made in China” sticker on your product and call it a day!
In the food industry, transparency comes in the form of delivering fresh, local products whenever possible. Restaurants and grocery stores alike are making these efforts as consumers become more aware of health and environmental factors. In fact, it’s hard to find a burger joint in Denver that DOESN’T offer local meat and produce.
The tech community also promotes strong transparency through “open-source” projects, in which code and proprietary information is released for public use. Can you imagine that??? Giving away the thing you’ve built for free!?! As crazy as it sounds, this is very popular among developers and one of the main reasons technology continues to evolve faster than most industries. Even Elon Musk, one of the world’s greatest tech moguls and entrepreneurs, decided to open-source the designs for Tesla’s electric cars. [link]
Why You Should be Transparent
Aside from the examples above, being transparent has immeasurable value. Below are some benefits of being transparent and/or working with other businesses that promote transparency.
1) Clean Reputation
By being transparent, you’ll create a reputation backed by honesty and integrity. This can go a long way for any business, especially in an internet dependent world where people have instant access to reviews and ratings. Keeping a clean reputation is essential to success, both online and offline, as it helps you build and nurture future relationships.
2) Better Communication
We’re all human, and being human requires that we communicate with each other to get things done. When people are open and honest with their communication, things get done faster and more efficiently. Lying and stretching the truth will only disrupt your communication channels and/or waste time… and time is not something you can get back!
3) Smoother Sales
When the terms of a sale or deal are clear they tend to move faster. Why? Because people make decisions after they have all the information they need. By being transparent up front, you expedite the process of a sale or negotiation. Furthermore, you avoid any potential delays or second guesses that might arise from hidden information – i.e. a lost deal or a return.
How We Embrace Transparency
Those are just a few of the many benefits gained from being transparent. At creatency, we strive to be transparent in everything we do, from sales to development. In fact, we’ve even been cited as being too transparent! However, we take that as a compliment 🙂
As a result of being transparent, we’ve built some great client relationships over the years. We’ve even pushed our transparency onto our clients in how they market their products and services online.
For example, we specialize in membership sites that offer paid subscriptions. All of our sites have seen continued success from a clean and open sign up processes – providing users with upfront pricing, terms and instructions. While this may seem obvious, a lot of membership sites on the web actually do the opposite by hiding terms or “tricking” users with attractive offers.
How about you? Are you being transparent in how you do business? If not, hopefully you can take something valuable away from this article. We sure have.