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Why Transparency Matters in Business

October 29, 2014

WorldVentures is the largest direct seller of vacation club memberships and one of their main objectives in being successful is trust through transparency.

Whether your network marketing business is in the middle of some turmoil, or just going through its normal day-to-day routine, making the company’s dealings more transparent is always a good idea. Why? Because the more transparent you are, the more willing companies will be to deal with you, and the better your representatives will feel about being part of the team, and about what the company’s goals are.

Survey after survey has shown that when employees are unhappy, it’s usually more than the usual “I work too hard for too little pay” gripe. Company-wide transparency is what employees want, and giving it to them not only creates a happier workplace, but it can lead to much better financial results.

Keeping things secretive makes employees less trusting, and less trusting employees are less likely to stick around. This is especially true when it comes to direct-selling, because secretive practices breed distrust among customers and clients. Trust is the No. 1 factor in why someone will go into business with you, and transparency in both motive, and in your financial data, can only serve to strengthen that trust.

So how do you go about becoming more transparent? Here is some guidance from WorldVentures, the largest direct seller of vacation club memberships worldwide, and leader of the pack in trust and transparency in the direct sales industry. For one, always keep employees and Independent Representatives in the loop, as much as possible, when it comes to big decisions. Don’t make enormous decisions with consequences for thousands of employees without at least garnering some input beforehand. WorldVentures has a Trust Council and Presidents Advisory Council (PAC) to provide valuable feedback. 

Another way to become more transparent is to communicate in a clear, concise language when speaking with representatives, customers and clients. Try not to use too much business jargon and terms that may not be clear to the other party; go over what you’re trying to say more than once if you aren’t sure they “get it.”

Finally, you can become more transparent simply by “opening the books” as much as you can; just giving your employees some information on operating expenses, profits for the company, etc., can go a long way toward garnering understanding and trust.