My day job is running a company called The Value Builder System™ where we help owners improve the value of their businesses, often in the lead-up to a sale. One of the core principles of creating a more valuable business is ensuring your business can run without you and this is often a factor that leads owners to consider open-book management.

I like the theory behind open-book management because the main idea is to get employees acting like owners. Empowered employees, the theory goes, are the best positioned to solve your company’s thorniest issues as they are the ones closest to the problems. In theory, people feel more like they are part of a bigger cause and this has the potential to contribute positively to a company’s culture.

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