Building in public can be an incredibly powerful way to grow your business, build credibility, and engage with your audience. However, it’s important to strike a balance between sharing valuable insights and protecting key elements of your business. You don’t want to reveal too much and give competitors an edge, but at the same time, sharing your journey can foster trust and connection with your audience.
Here’s a comprehensive guide on what to share—and what to keep private—when building in public.
What to Share:
1. Business Strategies and Insights
Sharing high-level strategies that have worked for you can provide great value to your audience. This could include approaches you’ve used to market your product, connect with customers, or solve common industry challenges. People love learning about the tactics entrepreneurs use to grow, and this kind of content positions you as an expert in your field.
Example: Instead of revealing the specifics of your personalized email outreach campaigns, you could share that reaching out to 50 prospects through DMs led to X% increase in engagement.
2. Market Trends and Industry Insights
When you’re plugged into your industry, sharing observations about market trends can be very engaging. It positions you as a thought leader who is keeping an eye on industry developments. However, it’s important not to over-share predictions that could give away too much of your own business strategy.
Tip: Share past trends you’ve noticed and acted upon, but avoid revealing what you’re currently betting on until it has materialized into a result.
3. Mistakes and Failures
Sharing your mistakes can be one of the most valuable types of content. It shows authenticity and builds trust with your audience. People resonate with vulnerability, and learning from others’ mistakes helps them avoid the same pitfalls.
Key Insight: Frame your failures as lessons learned rather than focusing on the negative. People want to hear how you turned a setback into growth.
4. Networking Strategies
Networking is an essential part of building any business, and sharing how you connect with others can inspire your audience. For example, you can talk about the strategies you use to build and maintain relationships with peers and customers. Sharing this helps your audience learn how to foster connections and grow their own network.
5. Personal Development
Entrepreneurs often share their journey toward personal growth, and this resonates deeply with audiences. Talk about the habits, routines, or mindset shifts that have helped you improve. Personal development content humanizes you and helps build a stronger connection with your audience.
Example: Share a glimpse into your daily routine, how you manage time, or what productivity hacks work for you.
What NOT to Share:
1. Trade Secrets
Your trade secrets are the core competitive advantage that sets your business apart. These could be proprietary algorithms, unique sales tactics, or processes that are difficult to replicate. Sharing these with your audience, no matter how tempting, could invite competitors to imitate or surpass your offerings.
Example: Don’t share a detailed breakdown of a unique sales script or an advanced technical integration that gives your business an edge.
2. Detailed Financials
While it’s okay to share broad financial health, such as rough revenue figures or milestones like achieving profitability, avoid sharing detailed financial information. Revealing specifics about your cash flow, bank accounts, or financial strategies could make you vulnerable to competitors or other security risks.
Tip: When discussing money, focus on strategies and lessons rather than exact figures. For example, you could talk about how you budget for marketing or growth without revealing exact numbers.
3. Unverified or Uncertain Information
Always double-check any information you share publicly. Sharing unverified details, guesses, or assumptions could damage your credibility. You don’t want to mislead your audience or build up expectations that you can’t meet.
Reminder: Stick to sharing things that you’ve already validated, either through experience or data.
4. Private Conversations or Sensitive Information
Respect privacy, both for yourself and others. If you have customer data, private conversations, or confidential business relationships, these should remain private. Never share client details or internal company discussions without consent.
Example: If you want to share a success story or conversation, ask the person involved for permission before sharing it publicly.
5. Negative Opinions About Competitors
While it might be tempting to vent frustrations about competitors or unfavorable industry trends, avoid stirring up controversy. Bad-mouthing competitors not only makes you appear unprofessional, but it can also hurt your brand’s reputation in the long term.
Tip: Focus on your strengths and what you offer, rather than pointing out the flaws of others in your industry.
6. Internal Conflicts or Disputes
Any internal conflicts or disputes within your business should be handled privately. Sharing internal drama with the public can create distrust in your company. It’s important to resolve conflicts behind closed doors and present a united, positive front to your audience.
Conclusion
When building in public, it’s all about balance. Share enough to be transparent, build trust, and create value for your audience, but don’t give away the proprietary details that could harm your business. Focus on sharing your strategies, insights, and the lessons you’ve learned along the way, while keeping trade secrets and sensitive information under wraps. This approach ensures you maintain your competitive edge while engaging with your audience in a meaningful way.
By setting clear boundaries on what to share and what to keep private, you’ll be able to build in public safely, fostering trust and credibility without compromising your business.
Peiter