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In order to have a perpetually successful business, it’s necessary to engage in many efforts meant to directly increase profits. You might run internet advertisements on YouTube about your company’s products or rent booth space at a trade show to promote what your company does while simultaneously reaching out to new customers.
However, there’s something you can do to indirectly increase your company’s profits while helping others: Pursue charitable giving outlets. That way, you’re doing something that directly assists people outside your business, but your company still reaps some benefits.
One major benefit of associating your business with particular charities is it allows you to show support for meaningful causes. Maybe the mother of your company’s CEO is bravely fighting breast cancer, or your human resources manager feels especially passionate about charities that support women who are fleeing domestic violence because she escaped it herself.
When you take stands by choosing to support particular charities, some of the beliefs that are present with your company’s makeup get put on full display. More than likely, customers will look favorably upon your decisions, even if they don’t personally feel passionate about the causes you’ve chosen. If people get the impression your company hoards money and doesn’t do worthwhile things with it unless they directly relate to corporate gains, they may decide to do business elsewhere.
Does it seem like your employees are increasingly disgruntled and causing you to feel worried about an increasingly high turnover rate? Encouraging your workers to get involved with ways to give back could improve their morale.
People want to feel they are using their life for things that may have positive impacts immediately, as well as far into the future. When you make it obvious your company is committed to getting aligned with certain charities, employees will realize they’re working in a place that cares about others. Once they get involved in your efforts, they’ll be more likely to believe they’re engaged in things that truly matter, rather than just coming to work, punching a time clock, and going home.
When employees are happier, they should also be more productive. That means your company should be well equipped to achieve profit goals and make other gains that increase its competitiveness in the marketplace.
You can also connect charitable giving to activities that could encourage employees to work more smoothly together as part of a larger team. If a small group of your workers decides to participate in a run that benefits mental illness research, they could gain first-hand understanding of how it’s often more possible to reach targeted goals when working together instead of alone.
Once you begin giving support towards specific charities, it may quickly become evident that there are numerous ways to showcase your company’s branding through those charitable efforts, and thereby boost your profits.
Perhaps you’ll decide to redesign your company’s packaging so it mentions how your brand gives a certain percentage of profits to a particular cause. Alternatively, maybe there is a charity golf tournament happening soon in the area and your company has been asked to serve as one of the main sponsors. In that instance, your logo may be displayed on banners, billboards, and within printed programs about the event.
Suddenly, there are many ways to promote your brand that didn’t exist before you decided to get involved with the charity. Those outlets ensure your company enjoys a greater degree of visibility.
When people start to feel overwhelmed by wondering what they can do to make major differences in their communities and the world, they often start purposefully doing business with certain companies over others. If customers realize the causes your company supports mirror the things that are important to them, they may choose to give you their patronage, knowing you’re at least using portions of your profits towards things they, too, support.
Eventually, your business could become so successful that you decide to focus your charitable efforts by setting up a foundation. The Donald Burns Foundation is one example that came about after its founder, Donald Burns, found success through many corporate activities, such as serving of the chairman of the Board of Directors for magicJack, a leading VoIP company.
The foundation’s website proudly announces various ways money has been used, and which organizations get support. Then, it’s simple for people to browse the website, know it’s associated with magicJack products, and choose to buy those items because they want to support the foundation that’s indirectly associated with such merchandise.
By now it should be clear how charitable giving opportunities could indirectly cause your profits to grow. After choosing at least one charity to support, you may realize the resultant benefits are greater than you envisioned they’d be.