4 reasons why transparency is good for business.
As I continue to write about values we hold true to NEOCOCO I can’t help but think about the importance of consumers being such a huge part of our process. The purchasing power that gives them the position to question values, goals and priorities that companies are based on is a powerful tool that should not be taken for granted.
Yesterday I attended a workshop organized by Fairtrade LA at L.M.U and I had the opportunity to meet so many different Non Profit Organizations and hear about the amazing work they do and most of us could agree that non profit companies do the work that is neglected by big corporations who pay very little heed to principles they claim their companies are based on. For eg : Fair wage, better work conditions and compensation.
Here are 4 reasons why transparency is good for business :
BUILD CHARACTER AND TRUST - Founders can lead the way by sharing their company values, goals and priorities by making it clear what they care about. Founders can also emphasize on how their products and work ethic support a healthier community and safe work environment. At NEOCOCO we encourage our consumers to find out more about our company. Our website is always updated with current information.
LET THE FOCUS BE THE MISSION - Transparency takes courage and effort, but true transparency will have a positive impact on your brand image and revenue. Show progress in the mission of the company whether it is progress in the life of an employee or, if the mission is sales driven then how it has a positive impact on the mission. We love to share a success story. After all, our mission goes beyond creating jobs. Helping families assimilate into society and helping them being part of communities is a valuable part of resettlement and we love to share those stories.
TALK ABOUT SETBACKS AND GROWTH - Share your process. If you are a mission based company walk people through the journey. People love a great success story.Remember, that’s why they support your mission. If you have had a setback, there is no shame in the game. Own it!! After all it’s your business and it’s all about the journey. Like any start ups we have had set backs as well. With every set back as the founder it is up to me to pick up my team and get them back up again.
BE TRANSPARENT ABOUT PRICING - This is important! Fair wage and equal pay. People want to be associated with companies that pay fairly and pay equally. For eg; Everlane has built its brand with the tagline 'radical transparency' and positioned itself as a leader in ethical practice. It says it is committed to revealing the true costs behind all of its products — from materials, to labor, to transportation. Have healthy conversations with employees regarding performance and timelines. This ensures a pleasant and progressive work culture. We hold team meetings once a week and we discuss goals, assignments and review work performances. An employee in our team is paid per T-shirt and can make anywhere between $100- $150 per week. It takes 20 minutes to 1.5 hrs to work on per T-shirt.
As a mission first company 100% of our revenue is directed back into the company to train and hire more women refugees resettling in the United States. We attune the logistics for each individual to work past their challenges, e.g. transportation, hours, skill level, language and inhibitions. We ensure fair wage and a safe working environment. Our mission goes beyond creating jobs for these women. We help them assimilate into neighborhoods by helping them be part of community events and find balance into their lives.
For more information mail : email@example.com or follow us @neococo_tribe