Krit is becoming an Open Agency

We're sharing our financials with the world. Here's why, plus a look at the reaction and what it says about the power of transparency.

There’s something powerful about transparency.

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When Buffer shares their actual revenue numbers, it makes success more tangible - more achievable. They also paint realistic pictures of the ups and downs of business, something most companies avoid mentioning.

People resonate with that kind of openness and realism.

From the beginning, my partners and I have wanted to build Krit in this image. There are multiple reasons why. We wanted to inspire the next wave of entrepreneurs and just felt like it was the right thing to do.

We also wanted to build an audience like they have. We saw their transparency propelling their growth, but in a way that always felt authentic. There was a real exchange of value happening there; it didn’t come across as slimy the way that some marketing tactics do.

Monday we decided to take the next step in becoming fully transparent. I published a blog post with all of our numbers (revenue, expenses, salaries) and announced we’re officially becoming an Open Agency. I’ll be sharing these numbers each month on our blog and on my twitter account.

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You can read the full blog post here.

The (early) results are in - and they’re good.

Today, I want to share with you the results of that blog post. My hope is that it will show you the benefits of adopting transparency as a core value, because I truly believe the world would be a better place if more companies adopted this practice. 

We published the post on Monday, July 30, 2018. I shared it on my personal TwitterFacebook, and LinkedIn pages. Then, I posted it to Designer News and Hacker News. I also sent out a link in my other newsletter, Startup Watching. This is all part of my normal process for promoting a blog post. The only exception is I reached out to more of my friends before publishing to ask for feedback. 

The traffic we’ve gotten so far hasn’t been way out of the ordinary. Our highest performing blog post so far this year spiked at 935 users, while this post topped out at 859 users (caveat: our site crashed for the first two hours the post was live).

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(The latest spike is the article)

But the engagement we’ve seen from the post DWARFS anything else we’ve ever seen on a blog post. Here’s a snapshot of what that’s looked like.

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It’s about trust and loyalty, not likes and views

To me, that engagement is way more important than the raw number of eyeballs. This indicates that our article is making an impact. This is how you create loyal fans and build trust with other people. 

A lot of these people are people I already knew or had some loose connection to. But they don’t interact with 99% of our content, so the fact that they took the time to comment shows me that this article made a different kind of impact on them. 

I challenge you to find ways to be transparent in your life and in building your business. You don’t have to start by going all in like we are. You could choose to make your pricing transparent. Or write about a failure of yours. Or even tweet about something new you learned. 

If you go this route, don’t try to fake it just for views or engagement. Dig deep, and be authentic. That’s what you and I and other people resonate with.

If all of us try to be a little more transparent, we'll all benefit. The world may even become a happier and more understanding place for us, too.

Read the full blog post here.

"Transparency breeds trust, and trust is the foundation of great teamwork."
-Joel Gascoigne, CEO of Buffer

Want to see us cover a topic? Have major startup questions or sticking points? Email andrew@builtbykrit.com