Transparency = Competitive Advantage

How can transparency become your competitive advantage?
We’ve broken it down to three areas that you can bring in transparency into your company so that you can transform it into your competitive advantage and why.

Transparency in:

  • How much your colleagues are earning: Transparency on the cost structure of your company can prove to create an incredible bond of trust within the organisation. This not only shows how much each position earns but clearly explains why. No one is left out and there are no hidden deals behind closed doors, which gives employees a sense of clear direction and certainty.
  • What your colleagues are doing: This helps employees keep track of where they are personally on a project but also what areas their colleagues are tackling, how much time they’re spending on it which holds people accountable to certain tasks. “In addition to sharing daily learnings and progress, everyone on the team also shares where they struggled and how they’re trying to improve.” This can be used to help people become more efficient and part of the team.
  • What your business goal is: Having a clear business goal that is apparent to both your internal customers and your external customers makes a statement about your company. Not only does the world know that, Google’s company mantra is “Don’t be evil”, but it is something that they will be held accountable for. Similarly, you will have to stand by your business goal and this gives your company a great amount of transparency and therefore trust in your brand.

“When you’re treating employees well, transparency is a very simple proposition–it’s just telling people what you do…it’s as easy as telling the truth.”

Read more on transparency in your business here. 

Run away from competition

Kaihan Krippendorff says that “Disruptive strategies begin with the courage to zag where others zig” by simply reading the herd. But what does “zagging where the others zig” really mean? It means to go out there, take a real good look at what your competition is doing right now and run away from it, into a totally different direction. By running into uncharted territory,  your company will be able to serve the consumer needs that your competition disregards.

So, run away from the standard attributes which are common in your industry.  Remember, it isn’t enough to look in other directions and select an alternate route just for the sake of it. To have a disruptive strategy, your company has to understand and deliver the attributes that truly matters to your consumers.

With your strategy in mind, we at Proto Partners, can help you find the consumer wants and needs that aren’t being addressed by your competitors, and provide you with creative and feasible solutions to grow your business.