Why You Must Share the Financials with Your Team – Urgently
This is a recent, real life consultation I want to share with you as it could completely transform both your thinking and your business:
Hello, Jake. (To protect his privacy I have used another name. His real name was Pete)
You might not like this, but I’m going to give it to you straight.
Right now—more than ever—every business owner, every leader, must share the financial truth with their team.
I’m not talking about vague updates or wishful optimism. I’m talking about radical, open-book transparency. The real numbers. The real risks. The real opportunities.
It’s the most important leadership move you can make—especially in uncertain times.
And it’s one of the most underused tools in business.
Why? Because it’s uncomfortable. It’s confronting. And it forces you to be vulnerable.
But here’s the kicker:
A problem shared is a problem half solved.
You Can’t Fight Alone
Let’s imagine you’re in a small boat. There’s a leak. And you’re bailing water out by yourself.
It’s hard. It’s slow. You’re exhausted.
But there are ten other people in the boat. They’ve got buckets. They’ve got skills. And they’re ready to help… but you won’t tell them the boat is leaking.
How crazy is that?
But this is exactly what I see every day in business. Owners fighting silent battles while the team stays in the dark.
If you’ve got 10 people on your team who deeply understand the financial situation—how serious it is—and they each know the one or two small things they can do to make a difference in their role, suddenly you’ve got a real shot.
But if you don’t share the truth?
Here’s what happens:
Three months down the track… cash runs out.
Six months in… you’re laying people off or closing the doors.
And the team? They’re shocked. Sad. Angry. I’ve seen it a hundred times.
They say, “Why didn’t you tell us? We could have helped!”
And they’re right.
The Untapped Power of a Team
In business—and especially in lean leadership—we love to talk about people power.
We preach collaboration. Teamwork. Shared ownership.
But then when it comes to the financials, we clam up.
Let me be real with you: this is where so many business owners drop the ball.
I’m part of global lean communities, mastermind groups, and coach business leaders around the world. And one of the first things I ask new clients is:
“Do you share your financials with your team?”
Most say no. Or, they give a half-hearted “sort of.”
But here’s the real kicker:
Even the ones who do share, I follow up with:
“Do you train your team on how to read the financials?”
Almost every time, the answer is no.
That’s like handing someone a map in a foreign language and expecting them to find treasure.
You can’t just dump the data. You’ve got to educate and empower.
It’s not about showing your team what you see. It’s about helping them see it for themselves.
That’s when the magic happens.
The Deadliest Waste in Business
Let’s go back to Lean for a moment.
You’ve probably heard of the Eight Wastes. Defects. Overproduction. Waiting. Not using employee talent…
But the most tragic waste of all?
Waste #8: Wasted Employee Genius.
Your team is filled with intelligent, resourceful, capable humans.
But if they don’t understand your biggest problem—your financial reality—they can’t apply their creativity or problem-solving skills to fix it.
That’s like having a team of world-class chefs… but keeping them out of the kitchen.
When your team understands the numbers:
They start suggesting smarter ways to save money.
They challenge wasteful spending.
They innovate in ways you never imagined.
But it all starts with visibility and understanding.
If your team doesn’t understand the problem, they can’t help you solve it.
You Must Lift the Fog
Let’s talk about what it feels like to run a business when the financials are tight.
It’s like driving through fog. You’re stressed. Anxious. Making reactive decisions. You know something’s wrong, but it’s hard to see clearly.
Now imagine your whole team is in that fog—but they don’t even know it.
They’re doing their jobs, business-as-usual, totally unaware that cash is tight, sales are down, and the company is barely above water.
Here’s the truth: The fog doesn’t lift until you name the problem.
That means lifting the hood. Pulling back the curtain. Showing your people what’s really going on.
Just like a doctor doesn’t treat you without understanding your symptoms, your team can’t help if they don’t know what the problem is.
My Wake-Up Call
I used to be scared of sharing my financials. For ten years, I kept it to myself.
Then came the crisis.
We were bleeding cash. Stress was through the roof. I was carrying it alone.
Finally, I made the decision: Share the truth with the team.
It was terrifying. But the reaction?
They were grateful.
They rallied. They got creative. They owned the problem. And together, we saved the company.
I’ve never led the same way since.
Now I teach every client to do the same.
Real-World Story: $20M Business Breakthrough
One of my clients runs a $20 million company here in New Zealand.
For years, he kept the numbers hidden.
But sales started to dip. Costs rose. Profit disappeared.
I said, “It’s time to share it.”
He hesitated. “What if they panic? What if they leave?”
I said:
“The right people won’t panic. The right people will step up. And the wrong people? They’ll weed themselves out.”
So he did it.
He gathered the team. Shared the numbers. Showed the truth.
And the team said:
“Wow. We had no idea. Thank you for trusting us.”
They were blown away. Not because the news was good—but because someone finally treated them like owners.
Now that team is united, focused, and working together to turn things around.
Your Burden Is Too Heavy to Carry Alone
Here’s the emotional side of all this.
When you carry the whole financial burden yourself, it’s crushing.
Sleepless nights. Mental stress. Guilt. Isolation.
But the moment you share it—even if it’s messy or imperfect—you feel lighter.
You go from being the only one lying awake at night…
…to having 5, 10, 15 other people in the fight with you.
And guess what?
They start thinking in the shower. In the car. On the weekend.
They bring new ideas. They challenge inefficiencies. They think like business owners.
It’s no longer just your business. It’s their mission too.
“But What If I Don’t Know How to Explain It?”
You don’t have to do it alone.
Bring in your accountant. Sit down with your team. Book two hours for a financial transparency session.
But—and this is critical—make it SIMPLE.
Most accountants default to complexity. Your job is to push back.
“Strip it back. Make it visual. Make it human. Translate every financial term into plain language.”
Show them:
The Profit and Loss statement
The cash flow reality
The breakeven point
Where money is coming in—and where it’s bleeding out
Then: Do a Q&A.
Let them ask anything. Be vulnerable. Be open.
It will be the best two hours you invest this year.
Action Steps: Turn Transparency Into Transformation
Block out 2 hours this week. Schedule a team financial session. Make it a non-negotiable.
Prepare your accountant. Tell them the goal is simplicity and clarity. No jargon. No complexity.
Print visual summaries. Charts, graphs, and one-page summaries work wonders.
Train your team. Don’t just share the numbers. Teach them how to interpret them.
Ask for ideas. Empower every team member to suggest one thing they could do to reduce costs, improve revenue, or improve cash flow.
Repeat every month. Financial transparency is not a one-time event. Make it a rhythm.
Final Thought
This isn’t just about numbers. It’s about trust. It’s about ownership. It’s about building a team of problem-solvers, not passengers.
If you’re serious about building an investment-grade business, you must let go of the fear and embrace the power of transparency.
Because once your people understand the truth… They’ll help you change it.
Bernard Powell
High Performance Business Coach | Founder, Premier Business Academy – Helping you grow your business, boost your sales, reclaim your time—and build a vibrant lean culture.
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Tagged Employee Management, Growth, Leadership Habits, Lean Leadership
