July 13, 2009 | Posted by Nicole Anonsen

It’s interesting how business owners show their true character when conflict arises. That makes me ask the question, should an owner be transparent from the beginning of a business relationship? I believe the answer is “yes”. From the moment of an initial contact, it is greatly encouraged that you know the true expectations of the business relationship and fully understand all the details pertaining to it before you finalize any deal. Too often business relationships hide from their intentions and therefore, overlook potential problems in the details by convincing themselves that “everything will be fine… we trust each other”. And so, the two parties rush into a contract relationship to get things moving. This is not a good start because the relationship has been immediately built on a shaky foundation.

The first thing to do is communicate and understand both parties expectations and executing details. Make sure they are in writing rather than from a phone call or a meeting. Granted, where phone conversations and meetings are the best way to communicate, it’s also the best way to accidentally overlook critical details. People generally get tired of details and so, they speed up that part of the process to get to the warm and fuzzy parts. It’s all about feeling good in the relationship. The real question you should ask yourself is, “Have I been transparent enough for this relationship to be built on a solid foundation?”

The second thing to do is to follow-through on any commitment. Trust is a huge factor when venturing into a business relationship. And too often, businesses get taken advantage of by concealing internal problems. It is our immediate reaction to not communicate any negative statuses. We highly value other people’s opinions about our business and from the moment we are asked “How’s business?”,  we immediately communicate that “all is well” even if everything is upside down. If commitments have been made, then stick to them. Do what is honorable and beyond that, go beyond yourself by providing the “Wow” factor. Communication is key here because if you don’t inform, you’ll eventually fail and lose all trust.

Remember that transparency is the best form of humility. When we are humble, we are not necessarily vulnerable, but confident in who we are and what we stand for in our business practices. It’s confidence that strengthens our character and it’s our character that shapes our reputation. If you have not mulled over every detail in a business relationship before it’s been finalized, then now is the time to start.