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Should You Let Your Clients (Or Your Staff) See Your Financials? Radical financial transparency can help -- and hurt -- your business

By Clint Carter

This story appears in the January 2017 issue of Entrepreneur. Subscribe »

Chris DeLorenzo
Baring it all can be good for business, but it’s not without risk.

Last spring, Joel Gascoigne realized he'd made a big mistake. He's the CEO of Buffer, a social media management company, and business was doing so well that he aggressively staffed up -- going from 34 to 94 employees in just more than a year. But although Buffer was still bringing in $875,000 a month, the increased salary burden was eating up all that money and more.

"We didn't get the productivity impact or growth we thought we might get from hiring that many people," says Gascoigne. Buffer was likely to be broke in five months.

Related: Let's Be Real: Why Transparency in Business Should Be the Norm