The Hustle has a short post about the open startup movement. It links to Pieter Levels monster post where he documents, in great detail, the process of building his Hoodmaps business to more than 300,000 users. This follows Gary Vaynerchuck’s idea of Document, Don’t Create. Rather than generic advice and platitudes, it’s a lot more valuable and interesting to read exactly how you built something. The press likes this, too. Documenting the process and key business metrics can be a great way to promote your business. Checkout Baremetrics for a list of companies openly sharing financial details. Business Opportunity: When an idea, like open startups, is clear and simple and is gaining traction there will be more newsletters, podcasts, conferences, apps, consulting, etc. around it. You’ll see.
Sharing the metrics of your business and explaining exactly what you are doing at each stage and why can be a great way to promote your company.
Sharing your successes and struggles makes you more relatable. Also, people will be more willing to share your story if they have the details behind your success.
Some companies famous for sharing financials are:
Entrepreneur on Fire