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Ask HN: Benefits and Drawbacks of Fully Transparent Financials
Hi,
Years ago I read in a Seth Godin book (don't recall which one) that a potential value point in a company could be their having completely transparent financials. But it didn't go any farther than just that statement.
I'm curious to know if anyone here has done something like that, what happened, & how it might've been either a good thing or not.
In what cases could such an approach provide any benefit?
Thanks-
-c
- PaulHoule 10y agoWhen a company is a sinking ship the owners/managers are afraid that employees will leave if they know the financial conditions so often they dissimulate. Many workers expect this so they startle at the slightest setback, and, more importantly fail to trust management (or vice versa) which slows things down and leads to more faults, errors and failures.
- borplk 10y agoI don't feel particularly qualified to answer. However I want to mention another option would be to expose a specific set of well-defined metrics.