Why Transparency Has Become the Most Underrated Competitive Advantage in Business I remember a conversation early in my career with a senior partner at a firm I admired. He was a formidable dealmaker — someone who had closed transactions most people in the room could barely imagine. I asked him once what the single most important thing he had learned about building durable business relationships was. I expected something about negotiating leverage or information asymmetry, the hard-edged wisdom that experienced dealmakers tend to traffic in. What he said surprised me: "Tell people the truth before they figure it out themselves." That was it. Not a tactical insight. Not a framework. Just a simple observation about what actually builds trust, and what happens when you get out ahead of problems rather than hoping they stay hidden. I have thought about that sentence hundreds of times since. And the longer I work in business advisory — across industries, geographies,...