What’s one thing that I would do differently in my previous company if I could go back?
I’d be more transparent about our financial struggles.
On a few occasions I had to fund the company out of my own pocket because we were running out of money and no one was investing in us.
But I didn’t share this with the team because I didn’t want to distract or demotivate them, or worse, have them view the company as a sinking ship and leave.
The result? I was dying inside, but I was seeing some complacent behaviors. One person was even complaining about our choice of free snacks.
I was pissed off, but I soon realized it was all my fault – because I didn’t share all information, they had no reason to act any differently.
One lesson I took was, if some people are going to jump ship as they smell the company’s financial difficulties, they’ll leave sooner or later anyways – they’re just mercenaries.
Being upfront benefits everyone, because the mercenaries will leave sooner, while the missionaries will take the challenge personally and work as if a new fire was lit under them.
Try to run the company with a principle of radical honesty and transparency – it will make a positive difference.