Why Sharing Your Startup's Business Data On LinkedIn Might Be The Best Decision You Ever Make
Entrepreneur2 weeks ago
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Why Sharing Your Startup's Business Data On LinkedIn Might Be The Best Decision You Ever Make

Entrepreneurship
Startup
LinkedIn
Transparency
Data

Summary:

  • Sharing your startup's business data, even the challenges, on LinkedIn can be a powerful strategy.

  • It sets you apart from the competition and demonstrates confidence in your business model.

  • Transparency builds trust with customers, especially those who are using your platform.

  • It also helps attract investors and talented individuals who are drawn to the authenticity and opportunity to contribute to your success.

  • Sharing regular updates, including key metrics, highlights, and future plans, provides a clear picture of your company's performance.

The Power of Transparency: Why Sharing Your Startup's Data on LinkedIn is a Game-Changer

LinkedIn is a platform where most businesses focus on showcasing their best moments, but what about the challenges? Martins Lasmanis, founder of Supliful, a CPG platform for entrepreneurs, decided to take a different route: complete transparency.

Why share?

Sharing your company's data, even the not-so-great parts, sets you apart from the crowd and demonstrates confidence in your business model. It builds trust and relatability with your customers, who are invested in your success, especially if they are using your platform. And don't underestimate the power of showcasing progress amidst challenges - it captures investor attention and attracts talent.

What to share?

Lasmanis recommends sharing regular updates, including business achievements, personal insights, and a monthly report with key metrics, highlights, and future plans. He shares raw data like GMV, net revenue, number of connected stores, and month-over-month growth, providing a clear picture of Supliful's performance, including challenges and triumphs.

Unexpected benefits:

This bold approach has yielded significant benefits: attracting investors, strengthening customer relationships, and gaining organic supporters. But the most surprising outcome has been talent acquisition. By openly sharing the challenges, performance, and priorities, Lasmanis has attracted experienced talent who are drawn to the transparency and opportunity to contribute to Supliful's success.

The takeaway?

Transparency can be a game-changer for startups. By sharing your data, you can build trust, attract talent, and ultimately, achieve greater success. Embrace transparency and watch your company thrive.

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