Honesty is very Web 2.0

Posted on January 16, 2007

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The new Internet entrepreneur is different from the old dot-com heydays. Back then it was all about hype, what something could be, or why it could not fail. Even though the optimism lives on the numbers are now much more open and so are the entrepreneurs that keep them. From Jason Calacanis to Ryan Carson, today’s leading Web 2.0 business owners are upfront and honest about the cold hard facts no matter what the outcome.

In my opinion it’s a nice change of pace from the expected drab marketing messages that come out of most large companies. Being open about your numbers can help in two ways:

1. It can keep everyone at the company honest and focused on the company goal.

Sometimes the truth can hurt but at least knowing the truth will give you a chance to improve upon it. Many times, especially during the dotcom boom, companies would shelter their staff from the actual dismal numbers they were churning out. Is this a good thing? Some business owners would say yes because it prevents people from jumping ship hastily and keeps the people that are performing well from using it as leverage. I can understand this to a certain extent but in the end it seems to me that you should share both the success and the failure with your company equally, if not, how will you grow as a team and learn from mistakes?

2. It helps your industry and the individuals working in it

The internet is a new medium despite the popularity and maturity that many companies involved in it seem to have (ex. eBay, Amazon, Google, etc.). Entrepreneurs continue to completely innovate the way we perceive and consume information online and their is no sign of this innovation slowing down anytime soon. Unlike brick and mortar businesses which are typically managed and controlled by the old rich and powerful players thanks to generations of hard work and established standards, it is the young and creative that rule the roost of the net. Because of this, inexperience runs rampant in online business, it’s not our faults, we don’t know any better because we are the pioneers of this wilderness with nothing to follow other than our own intuition.  Thankfully there are certain pioneers that are leaving a trail.

Examples of Open Information

If you own a business online check out the examples below to get a good sense of how opening your books can be a positive experience for not only your company but for the many aspiring entrepeneurs looking to take part in the industry.


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