» The Business Case for Being an Open Book

While it may seem prudent to hold all of your secrets close, there’s a certain level of respect that comes with a company that prides itself in transparency. However, being an open book isn’t as easy as simply blasting your latest company news on Facebook. Transparency is rooted in a deep regard for competitors and industry peers. The aim is to foster open communication.

 

So, what exactly does it mean to be an open book?

Be open with what’s going on in your company—both good or bad. In the past, I’ve earned business simply by letting people know we were low on bookings when other planners were already booked for their date. At the same time, it means being open with clients, competitors and the rest of your network about changes that may affect them, like the addition of a new staff member or a new product in stock.

 

What’s the ideal relationship with competitors?

It can be tough to open up to other companies that share your ideals and target the same prospective clients. However, with a positive attitude, two competing companies can work together to share best practices for their specialty. This can be mutually beneficial for everyone involved. Don’t worry about losing clients to a competitor. In fact, don’t even think about them as competitors. In the wedding industry, there will always be engaged couples looking to book. In our market, we have a group of planners that meet quarterly to discuss our goals, share resources and encouragement. We are always happy to celebrate someone else’s successes!

 

What should you keep to yourself?

Although it’s great to be transparent about company changes and major goals, there are some things you’ll want to keep to yourself. For example, if you’re having problems with an employee or another vendor, be cautious about sharing too many details. Keep people’s names and reputations out of it and, if you must ask for advice, do so anonymously.

When it comes down to it, it’s entirely up to you how transparent you are with your company. Just know that clients, creative partners, staff and everyone else will respect your commitment to openness and honesty.

 

This post was written by Jennifer Taylor. Jennifer Taylor is the owner of Taylor’d Events Group, a planning firm that specializes in celebrations of all kinds in the Pacific Northwest and Maui. She is also the creator of The Taylor’d Plan, a self-administered class for wedding planners who are new to the industry and looking to grow and develop their skills.