As an entrepreneur, you are likely to be a caring person who is passionate about not only your business but also with helping others that are in need. Whether it is giving back to the local community where you operate or a cause close to your heart on a global scale, giving to charity might be something you enjoy doing. One of the most effective ways to do this as an entrepreneur is to build it into your business model. By incorporating charity giving into your company in this way, you are not only providing more financial support than with a personal donation but are also fulfilling your social responsibilities as a business.
Why is charity important for the modern entrepreneur?
There are good reasons why making charitable giving a part of what your business does makes sense. Today’s consumers are very interested in supporting charities, which means they expect some level of philanthropy from companies that they use. By showing that you share their feelings, you are making it more likely that you will keep their business. Building charity into your business model will inspire a feeling of consumer trust as your customers will see you are an ethical company that cares about the world.
How can you add charity into your business plan?
Luckily, there are a few ways to do this that are simple to operate. That means any entrepreneur can make giving to charity a company policy.
- Gifts – why not consider making gifts to charities of your choice? It is usually best to do this on a regular basis, so that you forge a close relationship with the organizations you decide to support. It is also easier than trying to remember when to sort out a one-off gift. You may consider donating a product to a Christmas raffle each year or make a company donation to an annual national charity appeal. Any kind of gift, whether an item or cash, will always be gratefully accepted, and giving will boost your reputation.
- Consider a partnership – if you really want to be more involved with charity on a long-term basis then why not think about partnering with one? That allows you to build close links with the charity and to give them the security and prestige of being associated with your business. It can also help with building your own brand and with making a positive impression when people see the good work that you do for charitable causes.
- Staff volunteering – another way to make working with charity a part of your business model is to allow staff to help out in person. That could help a small local charity in areas in which the helpers may not be experienced, like finance or marketing. Lending them a member of staff for an hour or two each week would not hurt your own operation.
- Promotions – another fine way to make charity a part of your business is too simply help promote an event or a certain charity without actually being partnered with them. That will help spread the word with your own staff and also any customers you have coming onto your premises.
- Help with networking – one way of working with charities is to use your own business influence and contacts to help them connect with other organizations. This will also have a positive impact for you as regards your general standing in the business community.
Give consumers the choices
A useful way that you can make charity a part of what you do is to empower your customers. By finding ways to give them the option of donating to charity when they purchase from you, you are increasing the money that the charity you support raises. The online lottery company FreeLotto allow charity choices for donating FreeLotto players as part of their business model. This lets their customers have the choice to donate part of their winnings to charity. The great thing about this method as an entrepreneur is that it is entirely sustainable and does not require any capital outlay on your part while still helping out those in need.
Business and charity can mix
As an entrepreneur, you will naturally want to help out charities but in a way that also makes business sense. Any of the above tips are sustainable, effective and simple ways to show your support and to build the reputation of your brand.