Back in 1981,
Michael Phillips and Salli Rasberry wrote "Honest Business". It is a book
that I believe in and I believe is truth.
They write about
Open Books. "No single element defines the distinction between an
honest business and one that is not than the issue of open books.
Somebody who is new to business and enthusiastic about it will usually bring
out whatever pieces of paper pass for the books to show a curious visitor
without hesitation. Yet 99 percent of the people in general business
world will have a reaction of total terror at the possibility of some
outside seeing their financial records.
books means letting anyone look at your business records, especially our
financial statements and the details necessary to understand them.
"Anyone" includes employees, customers, suppliers and curious bystanders."