Back in 1992, Jack Stack wrote and published “The Great Game of Business” to offer a new approach to business. 

Also known as “GGOB” or open-book management, the concept involves literally opening the books to the entire organization. In equipping everyone with the ability to read financial statements and make financial decisions, they gain a stake in the operation.

Stack is founder, president and chief executive officer of SRC Holdings. His book details the journey of SRC from a failing business to one of the most successful companies in America. More than 30 years later, I still recommend the book as a fascinating read for anyone interested in innovative business practices.

As we shift from command-and-control thinking to more servant leadership mindsets, it’s critical to treat employees as if they’re the true leaders of the organization.

I’ve written and spoken at length about the fact that everyone in your employ is a leader.

Sure, some are leading initiatives you don’t want. But overall, everyone has just as critical an effect on your business as you do. Each day, your employees make conscious or unconscious decisions that change your bottom line.

When going into different businesses, I find it intriguing how employees either don’t know the financials of that business or business leaders treat those finances as if they’re national secrets.Yet, these are the same employees who run their own lives and balance their own checkbooks.

OK. I get it. Some people are better at this than others Some understand numbers better than others.

But the bottom line is this: If these are the same employees you’re empowering and engaging to run the business, why shouldn’t they have information that enables them to make informed decisions?

It takes some conviction on your part. And some patience for sure.

You begin by answering the following question: How much is your time worth? Few business leaders take time to answer that question. Hypothetically, if you’re time is worth $1,500 an hour or more, why are you bothering with decisions that only yield you $100?

Empowering and engaging your employees to understand the true costs behind your business as well as what you expect them to return to you for the wages and benefits you pay them allows everyone to raise the bar.

Don’t believe it’s possible? Do you believe this is some sort of pipe dream?

Right now you can purchase a copy of “The Great Game of Business” for as little at $3.95 on eBay. Hurry while supplies last and before fall arrives. Come fall, Starbucks will charge $6.95 for a pumpkin spiced latte.