I share all the profit and expense data with the team members of my Amazon Store.
Yep - Salaries. Software. Prep.
All of it.
I believe our use of transparency is a contributor to our company culture.
Okay.
Let’s go a bit deeper.
I have seen many business owners that are very shy with their numbers.
Now, for outsiders looking in, I get it.
Within the organization though, I think it can make a huge difference in the team members perspective.
In hiring, I seek those with leadership potential.I think a good leader has their area of expertise and knows how it affects every other department.
It’s hard for me to expect someone to be a good leader if they only know their corner of the business.
Right?
Everyone on the team has their own set of KPI’s they are assigned to track and analyze.
Our weekly and monthly KPIs give us a better idea of where the organization is at a more granular level.
On our meetings, each person walks the team through their assigned KPI’s.
They share what changed, why they changed, and the steps going forward.
If someone only knows what’s happening in their corner, they are in a silo.
Silo no good - silo BAD
I want to gather everyone towards a common mission.
It's (way) easier to speak that mission when they know it takes to get there.
We can spot when there’s an area of weakness on the leading indicators before it blows up in our face.
It's almost like a SWOT - but less academic (and less boring).
Every meeting we come out with actionable steps to be taken within the month.
By being transparent with my team, I have found they are able to have better decision making.
They are considering the company as a whole, because they are informed on the entire thing.
Give it a try and let me know how it goes for you ☺
I'm Zack with Talented.
We help you find great talent to hire for your Amazon business.
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