PowerTips Unscripted Open Book Management with Ken Kirsch – [Best of PowerTips Unscripted]
The thought of showing your financials to your employees may be unsettling. We’ve known remodelers who are so leery of sharing their numbers, their field crews don’t even know their project budgets.
But it doesn’t have to be that way, says Ken Kirsch, a proponent and practitioner of Open Book Management. In this episode, Ken tells Victoria and Mark that showing your numbers will engage and motivate your team — while helping your bottom line.
Ken is the president of MAK Design+Build Inc. in Davis, CA. Drawing on his experience as a carpenter and an artist, he and his wife Ellen started MAK Design+Build in 2003, out of an Airstream Trailer in their driveway. Ken’s a member of Roundtables group Krypton, and was introduced to the concept of Open Book Management at his very first RA meeting.
Victoria and Mark talk with Ken about the positives, and one surprising negative, he’s experienced since embracing Open Book Management. They discuss:
- What to show and what to avoid
- Focusing on the Big Picture
- The importance of your team being financially literate
- When and how to discuss your numbers
- Engaging your employees for lower turnover
- And a whole lot more…
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