We, humans, are part of an ecosystem of give and take. But now it’s time to talk about the essential habit of giving back and why it’s important to your business.
This week, I’d like you to think about the last time you gave something (your time, a product, a donation) without expecting anything in return. Business’s higher purpose is more than to simply profit, I believe its purpose is to give back.
I know what you’re thinking. How can I focus on philanthropy when I have to make sure my business is sustainable and profitable first?
Contribution to society is not only about serving the needy or volunteering. It can also be a small shift in the way we lead our lives or serve our clients.
DID YOU KNOW: According to a study,when it comes down to making purchase decisions with new brands and services, it was found that 42 percent of Australian respondents, believe that price is the first deciding factor. A second factor that they consider is whether the brand is socially or environmentally conscious. Link on words
So many businesses today owe their success to the time and effort they’ve spent embedding this giving culture as early as possible.
QUESTION: Are you a business that is closely tied to the community?
Purpose Vs profit: What does your business care more about?
Create a purpose that attracts and retains your customers, employees and your fellow competitors.
Do you believe that philanthropy is only for the top 1 percent of business professionals and celebrities?
I used to think like that too, but I am now enlightened to the possibilities open to businesses of all sizes.
How often do you, as a business owner, consciously notice whether your values perfectly align with a new business deal, partnership or collaboration?
Having a purpose sure does not happen in a day. It is a process that takes time, needs hands and brains outside of your own, an unwavering support system and the drive to keep at it.
A study conducted called “People on a mission” interviewed purpose-driven organisations, and found that: Link on words
– There is a rise in the number of socially conscious businesses.
– Companies who nurtured a culture of values and missions had higher annual growth rates.
– A rise in the values of millennials, who wish to know exactly how they will make a positive difference in the world if they join a certain organisation.
Let’s talk contribution
Your business can contribute to society’s prosperity and drive the economy when you team up with your employees who adopt your mission, carry your values forward and truly impact the world – all without making donations in thousands.
Any small or medium business can offer other prime resources apart from heaps of money. As an entrepreneur, you can certainly pay it forward by sharing your time, advice and mentor the upcoming pool of founders. If you do not know exactly how you can contribute, maybe connect someone in need with the right person. Something as simple as sharing your product or services free of charge for organisations who would find it useful, is one way to go above and beyond.
Giving can easily enhance your business by:
- Humanising your organisation: Let me ask you this – if you do not trust someone, would you do any business with them? Gone are the days of a faceless and cold business environment. Before seeking to create connections out on social media, it is essential for you and your team to connect on a human level with one another. This also means that you instill in your team a sense of responsibility, empathy and the drive to act on “giving back” contributing to society, just as much as yourself.
- Rise above your competitors: Being better than your competitors does not have to do only with your products, services, marketing and sales strategies and so on. This also applies to the way you intend to give back to society. Measuring the performance of your company does not stop with analysing the balance sheets. It is also about who cares about society.
- Increasing team satisfaction: Traditionally, a good salary along with benefits was the deciding factor for any employee looking to join a new organisation. But today, we all want more than that. We want to be identified with the company, contribute to charities with our time and give back in any small, but meaningful ways. It is best for any business to engage such employees who are looking to make a positive impact.
Join the global giving movement and change the world as small businesses.
Giving is an easy addition to your business that will add a lot of value in the long run. It’s never too early for a business to get involved and there is no better way to start than to take a look at the great things being achieved by businesses the world over through the Global Giving Movement B1G1.
Buy One Give One (B1G1), a social enterprise and a not-for-profit organisation, is a membership program designed for Small and Medium Enterprises (SMEs) with a transaction based charity and giving model. Link on words to B1G1
It is a ‘giving’ initiative launched in Singapore in 2007 by Masami Sato. B1G1 acts as a platform for business members to donate money to B1G1’s partner charities.
Each designated business transaction makes a meaningful impact lives, for as little as just one cent.
The organisation has 2500+ business members, partnered with NGOs and charities in over 34 countries. The mission of the organisation is to create a world full of ‘giving’.
The organisation works for multiple projects and business members can give to as many projects as they like. Absolutely 100 per cent of the giving directly goes to the project chosen by the business.
The impacts of every contribution and difference made can be tracked and shared. You also have the chance to communicate this with your clients and customers and try to involve your stakeholders.
By being a part of the society in such ways, your organisation is consistently helping people all around the world and directly impacting many lives.
If we have the power and resources to give back to the society, why think twice?
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