I run a business that does about $3m ARR. I have 4 managers and myself. I am considering opening up our P&L to them on a monthly basis so that they can have insight into the financials of the business. My goal is to motivate them and let them feel more in tune with everything.
But I am a little hesitant and need to weigh the pros and cons, as well as how I should disclose this information..
So far I have thought of the following ways to do this:
But I am a little hesitant and need to weigh the pros and cons, as well as how I should disclose this information..
So far I have thought of the following ways to do this:
- Complete 100% oversight of each account in the P&L
- Cost of Goods Sold Accounts completely transparent. And then all Overhead/Administrative accounts would be lumped into one number with Net Profit also being showed.
- Cost of Goods Sold completely transparent and show nothing else