If you don’t think transparency is important, especially with Gen Y’s running around wild, let me give you an example. A very creative Gen Y entrepreneur Gary Vaynerchuk who I have mentioned on the show before owns a website called Corked where wine enthusiasts can discuss and rank wine. However, a short while ago the site was hacked and when you went to Corked, you were redirected to a pornographic website. Not good.

So in the old world of business, this would be have been covered up or spun by a publicist trying to hide the fact that wine searchers ended up with porn. But that old school tactic will simply not fly anymore as people want honesty and transparency. So what did Gary do? Instead of running and hiding, he made a short video explaining exactly what occurred, apologized, and fixed it. This received an overwhelming positive response from his community.