I know about Open Book Management (OBM). The future of Capitalism? No. And I hope the two are tied.
Iron Horse began implementing OBM in 2021. This is a process of showing our company’s financial statements and performance to all who are employed here and inviting them to actively participate in shaping the financial form of the company.
I was recently invited to present at the Washington Brewers Guild Summit. This is a gathering where Washington brewers share and learn from each other along with meeting vendors and drinking beer. The beer drinking is always a part of what we do. I love this industry. As I thought about what I could present at this gathering, OBM came to mind. They accepted my proposal.
I’m struck by what one of the attendees said. She was sitting in the front row, she seemed to be in her late 20s. She told me, “I just want to give it all away, I’m trying to figure out how to do that.” I wish I had delved deeper into what she meant. I projected my story onto her.
My story is a desire to create a company where the employees are growing in their awareness of what makes the company work, how they impact it and how to create greater value for themselves, their team and the company. Included in my desire is creating the conditions in which we all share in the risk and the reward of our shared efforts. I think these conditions will be more satisfying and equitable. I assume that is what this young woman was aiming at.
I then got curious. Is this the new capitalism? Is this what some of the younger generation of business-owners and young capitalists are longing for too? I hope it is. My future capitalism vision is a move to humans deeply embedding themselves in organizations that exist to serve the communities they are a part of. I see a future where businesses recognize profits as necessary fuel and the existence of the company is the wellness of the humans that comprise the business. I see this future capitalism as the tool which enables improvements made to the broader communities. I see this as what capitalism is good at, improving on desired outcomes. I see this future capitalism as a form of community-wealth building rather than the pyramid-scheme-like organizations that are so prominent in our system. I see this future of capitalism as a grounding pad for humans rather than a temporary launching pad that hierarchical companies encourage so often. I see the priorities moving from individual growth and gain to rich communities of acceptance and value creation. Now I’m really going to get the snickers going from the dark corners of the internet or your psyche: I see this new capitalism as a machine to grow what is not finite, love. Our infinite growth on finite systems seems to defy the physical realities of our planet. Some things are truly infinite and can be grown in a way that everyone gains. I think capitalism can create these outcomes and I’m committed to doing my part.
