SpaceX has finally explained what caused one of its rockets to explode last September. The company said in a statement that a buckled liner trapped oxygen inside one of the fuel tanks, which caused friction that made the oxygen explode.

The explosion made plenty of headlines back in September. But as SpaceX has another launch scheduled for Sunday, it was important that the company actually explained the cause of the explosion, along with what they plan to do to ensure that the same thing doesn’t happen again.

SpaceX doesn’t currently have any products or services that the public can purchase. But founder Elon Musk wants to eventually build a colony on Mars and use SpaceX rockets to bring people to live there. And for anyone to actually signs on to take part in something like that, they really need to trust the company. So being secretive and keeping everything hidden from customers isn’t likely to be very effective. By contrast, being transparent about major milestones and even setbacks could potentially help the company reach its goals.

Follow This Example of Transparency

It’s the same with your small business. No, you hopefully won’t have anything as cataclysmic as a rocket explosion to explain. But, hey, if that delivery isn’t made on time or that project isn’t completed as promised, you’ll still need to be open about the reasons. You may not have the eyes of the world focused upon you or be planning a colony on another planet. But the work you do is very important to your clients right here on Earth so this example of transparency is very relevant. Be honest with them — especially when things go wrong.

Image: SpaceX

This article, “SpaceX’s Latest Statement Demonstrates the Importance of Transparency (Watch)” was first published on Small Business Trends