This is a question I get often…”do you share your books with your team?”
I choose to share my books with my team.
I want them to know what is happening, which numbers are strong and which ones are weak.
That enables us to have intelligent conversations. I treat my team like shareholders of the Company. We all have a vested interest in making the Company successful.
We all own a different stage of the client journey and if we can all do our part with excellence, the piece of the pie will only continue to grow for everyone.
They see everything from the leads we generated each week to how profitable we are so they can see what is the highest profit activities and which have little to no return.
I want them to see which trial offers get more sales and what our conversion rate is from lead to trial and trial to member. I want them to see our retention rate so they can see what our clients think of our product.
I’m not saying you have to do this immediately. In fact, I don’t think you should until you have a strong understanding of your numbers. Your team will have questions and you need to be able to answer them.
So, I recommend you review them with your leadership team or with a small group for 3-6 months. Then when you have a strong understanding of them, roll them out to your team.
Maybe it’s a modified version or the full version, that’s up to you. But I will tell you that my team is much more high performing when they know the health of the Company they work for. They will come up with great ideas and think of ways to grow the business.
Just my two cents on this subject.