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How To Add Philanthropy To Your Business And Create A Win-Win

How To Add Philanthropy To Your Business And Create A Win-Win

Consumers are looking more and more to buy from socially responsible and philanthropic businesses. The Cone Cause Evolution study found that “83% of Americans wish more of the products, services and retailers they use would support causes.”

TOMS Shoes is just one example of a business following this model. By giving away a pair of shoes for every pair they’ve sold, TOMS has undoubtedly increased their bottom line, while giving away over 10 million pairs of shoes.

But it’s not only for large businesses with a sophisticated plan for corporate giving. More businesses could (and should) make a greater impact, as well as increase their their bottom line, by integrating philanthropy into their business model. Here’s why and how.

Your business will stand out from competitors

As mentioned above, customers latch on to powerful stories that involve social movements. Incorporating this into your business makes customers feel good about buying from you. Every time they do, they’re helping a cause.

Customers may be more loyal when they know this, too. The Cone Cause study above explains, “Forty-one percent of Americans say they have bought a product because it was associated with a cause or issue in the last year.” Businesses supporting causes clearly have an edge when they incorporate important causes and issues their customers care about.

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Motivation for employees

According to the Cone study, “Employees who are very involved in their company’s cause program are 28 percent more likely to be proud of their company’s values and 36 percent more likely to feel a strong sense of loyalty than those who are not involved.”

If employees feel their work is meaningful and makes a difference, they may work harder. Incorporating a giving program where employees are involved may create a more engaged and motivated workforce, which benefits both charity and your own bottom line.

Save on taxes

Depending on how you incorporate philanthropy into your business, you may be able to take a tax deduction. This is often true if you’re supporting a certified charitable organization.

The Small Business Association lists what you can write off, which includes:

  • Money. Cash contributions to charitable organizations are typically deductible.
  • Donation of goods. You can typically deduct the value of any goods you donate, including products you sell.
  • Volunteering. While you can’t deduct for the value of your time, other expenses can be deducted.

There may be even more tax deduction opportunities, so be sure to check with a tax accountant on what you can deduct.

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More media coverage

Erin Giles, a business owner and proponent of turning your business into a movement, received major media coverage just one year into launching her business. With Entrepreneur.com, Inc.com, Forbes.com, USA Today, and other major publications picking up her story, she was able to both further her business as well as her philanthropic movement, End Sex Trafficking Day.

While you don’t want to do good only to take advantage of press, it’s another nice bonus to giving back.

You’ll feel good

There’s something powerful about helping a cause. To start, if you’ve ever felt good after giving, that’s no surprise. This study from the Harvard Business School found giving to charity can make you happier.

If you read the title and decided to read this article, you likely agree with me that helping the world is an awesome feeling. But why limit it just to our personal lives? Integrating philanthropy into business can make your impact much more powerful and your work more rewarding, too.

How to do more with philanthropy

Once you’ve made the decision to include more philanthropy, you need a plan to do it right to really achieve a win-win.

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Share your story

While giving to charity and talking about it might seem tacky or like you’re bragging, I don’t buy this if you’re truly genuine in wanting to help. By talking about it more, you’ll hopefully garner even greater support.

Communicate to customers and clients clearly what you’re doing and why. Who are you helping?

Don’t use weak language like, “We donate a portion of all revenue to charity.” That’s boring and unlikely to get much support from anyone. Consumers want to know more about the charities you’re supporting, so give them all the details you can. Who are you supporting? How are you supporting them? And most importantly, why are you doing it? Outline all these things clearly in your marketing.

Pick a cause related to your business

Picking your cause is much more powerful if it already relates to what you’re doing. TOMS shoes didn’t decide to give away free t-shirts for a reason. Their business is shoes, so that’s what they give.

Customers likely already have some sort of attachment to the product you sell, and doing something related to that can mean they’ll care more about the cause you’re supporting, too.

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Be genuine in making an impact

While incorporating philanthropy can help your bottom line, that’s not the only objective. Don’t launch a philanthropic campaign for selfish reasons. Customers can sniff out fakes.

Some campaigns we’ve seen by large businesses just aren’t as convincing to me, especially when they exploit “cause marketing” merely to benefit their bottom line.

Maybe their intentions were good, but you still need to be careful it doesn’t come off as a marketing ploy. Go all-out in your efforts to support charity, and everyone will win at the end of the day.

Has your business incorporated philanthropy? If yes, how?

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How To Add Philanthropy To Your Business And Create A Win-Win

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Last Updated on January 14, 2019

The Key to Finding Job Satisfaction and Having a Successful Career

The Key to Finding Job Satisfaction and Having a Successful Career

Regardless of whether you hold an entry-level administration role or regularly travel to the ends of the Earth as a hot-shot senior executive, you can still find yourself harboring an emptiness… a feeling that something is missing. A popular assumption that experiencing job satisfaction and a successful career should be underpinned by a well-rounded suite of tangible benefits, no longer holds true for many of us.

We’d never deny health care benefits, appropriate and fair remuneration, bonuses and travel perks in a job package. However, even if served to us on a silver platter, those features can only satiate us to a certain point.

You might wonder what governs entrepreneurs and start-up business owners to quit their lucrative jobs, essentially look the gift horse in the mouth and kiss such benefits goodbye! There can be an irresistible pull to mastermind a business with products and/or services that serve the greater good of community wider than that constituting their daily existence.

Even with research showing entrepreneurship to pose greater threats to their mental and physical health, this unique breed of individuals choose to go against the grain in chasing their dreams of being their own boss. Why? Why would anyone risk this type of career suicide?

Whether you’re an employee, have recently taken the leap to being a business owner or been in business for a while, the commonality is a congenital condition we all share as human beings; to feel a sense of purpose, value and contribution to our community. Despite it being harder to find this for ourselves in today’s world, these approaches will help you achieve ultimate satisfaction through the twists, turns and joyrides that are essential features of shaping a successful career.

1. Search for Opportunities That Feed Your Passion, Not Temporary Excitement

Even though well-intended, the ‘feel good now’ compass that career coaches and consultants often recommend you use to create career satisfaction can actually do you more harm than good. Excitement is transient. It doesn’t last. Passion is the compass you need.

Passion and excitement are two different things. The resounding career legacy that still draws you to turn up on the job regardless of the sunshine or storm that awaits you…that’s passion. It’s like a mental and/or emotional itch you can’t shrug off. Staying attuned to that calling will breed success for you sooner or later. Patience is key.

You’re also likely to have more than one key passion. Beware of getting caught in the notion you have to find your one true purpose. In fact, run immediately from any coach who tells you there is only one. There isn’t.

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Your passion is a journey that can take multiple forms so forget thinking there is the single dream job out there that will give you satisfaction in every way you can imagine. It simply doesn’t exist.

Consider embracing different roles and projects to help you fuel your passion or fuel your pursuits in finding it. Job satisfaction and your career success will be all the more sweeter from a wider range of enriching experiences.

2. Don’t Position Job and Career Satisfaction Assessments as Pivotal Guides to Your Success

Despite their popular use for vocational guidance, assessment tools such as Gallup’s Clifton Strengths and the Myers Briggs Type Indicator have come under fire[1] as being limited to the amount of true value and direction they can offer partakers.[2] These and many other guidance assessment tools (e.g. VIA Character Strengths , DISC ) are self-report questionnaires that don’t have normative population data against which to compare your results.

Simply remember these tools help you develop a stronger sense of what you identify as strengths and weaknesses within yourself, not in comparison with other people. They will still add insight around what sorts of career opportunities, tasks and projects are going to light your fire, what ones are going to extinguish it and what will prod and keep the coals steadily smoldering.

3. Be Clear on Your Personal Values, Ethics and Principles and Choose Relationships That Support You Honoring Them

Teamwork, collaboration, open communication and trust are commonplace for any flourishing work environment. However, whether or not your personal values can be honored in your work can make or break your job satisfaction.

How committed do you want to be to an organization that expects an average of 10 unpaid overtime hours every week under the guise of ‘reasonable overtime’? Are you willing to accept their construing this expectation as ‘strong commitment’ at the expense of your partner and children waiting at home for you? What are your boundaries concerning when you clock on to their time and when you clock off to yours?

Being very in tune with what your personal values, principles and ethics are will bid you well in the job satisfaction stakes. Spending time to reflect on experiences and working relationships you’ve had – the good, the bad and the ugly – will help you make well-informed searches and grounded decisions that will propel your career success.

Finding and nurturing relationships with associates and colleagues who share similar values doesn’t just make your day-to-day pursuits more enjoyable. You become fortunate to work with like-minded people who will support, understand and appreciate you like a second family.

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Being able to honor your personal values in your work means you will still be able to sleep at night when you have to tread where others fear to, and make extremely difficult decisions others would never ever dream of having to make as you forge success in your career.

4. Be Clear on Your Own Definition of What Having a Successful Career Means for You

It’s tempting to get caught up in the ideals and projections of success expressed by those we love, admire and respect. Underneath, we all want on some level to belong to a successful club of some sort.

With research reporting how much money we feel we need to be truly happy,[3] many of us try to subscribe to the notion that having the car of our dreams or taking a European holiday annually will not bring us happiness. The truth, however, for many of us is these tangible rewards are congratulatory reminders of our persistent efforts to chase our career pursuits.

If those are things you aspire to, don’t let anyone steal your desire and want to feel deserving of these things, that those are some parameters by which you define your career success.

Despite consistently being the top revenue earner for two years running, you may not wish to become the sales manager. You may not wish to step out into running your own business even though you consistently excel as an employee, delighting clients and repeatedly receiving glowing testimonials.

Your definition of career success might be enjoying the predictability of a regular workplace routine. You get to leave – without feeling guilty – at the same time each day, love the people you work with and get to spend a good, uninterrupted amount of work-stress free quality time with your family. That picture is also blissful job satisfaction and complete career success.

5. Identify the Sorts of Challenges and Problems You Want to Learn to Overcome

Standard advice you might receive from a career coach might be to look for opportunities where you get to capitalize on exercising your strengths and career-related activities you enjoy.

However, to become a success at anything involves improvement. To excel at anything often involves stepping outside boundaries and comfort zones where others wouldn’t. This means dedicating focus and attention to things you’re not so good at and things you don’t like.

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Here’s where working with a coach can be particularly helpful. Map out the experiences that were unsavory in your working history. Were there challenges you opted out of, projects you failed at or toxic relationships that blasted your sense of purpose and self-worth into oblivion? It’s within these experiences that you might just find the most valuable lessons and guiding lights for your trajectory to achieve greater job satisfaction.

If your natural leadership style is to be a collaborator, finding opportunities that require you to apply a more dictatorial style might be needed. Discussing a secondment or short-term project where you get to develop and test your skills can be a step further in earning contention to lead a larger project down the track.

With several of the company’s boldest personality types penciled to roll out the operation, you’ll not only develop skills that earn your right to throw your hat in the ring; those key players have an opportunity to see your competence. You can then work on building relationships with those stakeholders before you need to hit the ground running should you win the lead.

Greater job satisfaction comes with planning and choosing the lessons and opportunities you want to learn, not desperately flailing, floundering and hoping for the best.

6. Keep Reviewing Your Goal Posts and Be Amenable to Change

The word ‘career’ is indicative of a longer-term pathway of change, growth and development. The journey is dynamic.

You will accumulate new skills and let those you no longer need, become rusty. Your intrigue will be stimulated by new experiences, knowledge and people you meet. Your thinking will continue to expand, not shrink. As a result, your goalposts are likely to change.

A major part of enjoying a successful career is not just setting goals effectively, but regularly reviewing and readjusting them where necessary. However, moving the posts or the target still needs to take place by applying the same processes by which you originally created them. The strength of your emotional connection to those revised goals needs to be the same, if not stronger.

By asking yourself the following questions, you can assure your developmental and growth trajectory is still on course:

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  • Would working toward these goals still allow me to honor my personal values, principles and ethics at the same capacity if not greater?
  • Do the activities I need to undertake to meet these goals honor my highest priorities?
  • Does this feel right for me and those who are nearest and dearest to me?
  • Is this aligned with my passion?
  • Is chasing this goal a right step for me to take now or is this a detour or distraction which could delay my greater plan?

Each of your career goals should have different review periods. Whatever you do, stick to the review schedule you set. It will not only keep you focused but help you see your progress (or lack thereof) and allow you to timely re-chart your course before you get too far down the track. You don’t want to waste time haphazardly heading in the wrong direction.

7. Be Prepared to Let Go

It can be unfathomable to us as to why others risk leaping into the unknown when everything truly appears fine and dandy in the career realm. The company provided stability, recognition, financial success, interesting projects and the promise of a promotion…what was wrong? Why now jump sideways to run a café or train in another field altogether?

Nothing may have been wrong at all. It was all going right. It was just the end of a chapter. Perhaps the yearning for the next step is actually taking a different trajectory entirely. You may want to simply experience a different rhythm. Perhaps it’s time to pursue a different passion.

If you have leaped from employee-land to freelancing or have made the reverse-jump (or you know someone who has), you will have quickly grown a different appreciation for pros and cons each work lifestyle brings. Working for yourself can bring the greater realization of your creativity, whether or not it can be monetized to earn you a living.

When your customers are buying you or a product you designed and fashioned, there is a direct level of appreciation and gratitude that can elevate your confidence in the way you have never experienced as an employee, regardless of your rank.

Similarly, there are times where we need to recognize our business ventures were adventures, not long-term life-changing empires. There are times we need to recognize that time is what provides the clearest limitation of how long we persist for in such pursuits.

We have to recognize the absence of enough financial, mental, emotional and physical breadcrumbs that tells us we’re no longer meant to push in that direction. At least, not for the present time.

The Bottom Line

Above all, keep the momentum. As long as you remain committed to pursuing work opportunities that allow you to honor your highest priorities, the truth of who you are and what you stand for, achieving ultimate job satisfaction and a successful career will never be too far away.

More Resources to Help Advance Your Career

Featured photo credit: Csaba Balazs via unsplash.com

Reference

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