Sometimes, founders are tempted to hide the truth in an attempt to protect their team and customers, but that’s often a risky call.
A lack of openness doesn’t just put your relationships in jeopardy, and it can also undermine your company’s growth and revenue.
If a team member isn’t performing well, try to find a solution like additional mentoring rather than turning a blind eye.
Being open, especially about your weaknesses, is vital to motivating your team and ensuring that they perform at the highest level.
Creating an atmosphere in which openly shared failures makes it much easier for the entire business to improve and learn together rather than people feeling like they are in the dark.
When times are tough, you should be up-front about the company’s financial situation, including potential layoffs. Your team members will work harder to hit their targets if they know the lay of the land. Leaving them in the dark about the financial state of your organization, on the other hand, will likely breed resentment – precisely what you don’t need when things are tough!