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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 May 23, 2021

10 Best Free Job Apps You Need For Effective Job Hunting

10 Best Free Job Apps You Need For Effective Job Hunting

Seeking for the right job but not sure how to do it in a more effective way?

Try job search apps!

To make the job hunting process easier, I’m recommending 10 best job apps that can help you look for the right match anywhere at any time. The best of all? They’re all free!

1. jobandtalent

jobandtalent

    Great for browsing new jobs as you commute home via subway, bus or carpool, the jobandtalent app is like a Pinterest for job seekers.

    Easily browse, save and revisit job postings from your smartphone and receive notifications about jobs that match your professional qualifications.

    Download it for iOS and Android.

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    2. Jobr

    jobr

      This job hunting app is unique in that it lets you anonymously browse job listings based on your professional resume. If a company that you like also shows an interest in you, the app let’s you chat directly with a company rep. Great for getting your foot in the door and making a memorable impression.

      Download it for iOS.

      3. Monster Job Search

      monster job search

        I’m a big fan of Monster. It’s one of the first job sites employers think of when they want to list a new position online. The Monster Job Search app functions pretty similarly to the normal website, so it’s very easy to use for not-so-tech-savvy job hunters.

        Download it for iOS and Android.

        4. Jobs and Career Search

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        job and career search

          This is a good, simple app for browsing global locations for your next job. With a job index of more than 50,000 jobs listed globally, this app is a good choice if you are moving to a new area and want to line a new job up quickly.

          Download it for iOS.

          5. Hyper Networking Groups

          hyper networking groups

            This job hunting app isn’t so much a job hunting app as it is a connections hunting app. It’s great for learning who’s who in your desired field and forming connections. It also shows you how you and your industry connections are connected via your social networks, so you can follow up with them on your other social sites.

            Download it for iOS.

            6. CardDrop

            CardDrop

              CardDrop is an awesome job hunting app that let’s you digitally drop and pick up virtual business cards. This app is great for helping you make new connections at seminars, interviews, meetings and conferences. You can also attach social media profiles to the cards you pick up or send to enable easier connecting on social networks.

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              Download it for Android and iOS.

              7. Job Interview Questions

              interview questions both

                Okay, so this app looks kind of outdated, but it’s super useful for getting you into the swing of answering any kind of interview question that is thrown your way. The big benefit of using this app is that it explains to you what your interviewers motivations might be for asking you a specific kind of question. Learn what your interviewer is looking for in your answers and be more prepared for the real interview when the time comes.

                Download it for Android.

                8. 101 Interview Questions and Answers

                101 both

                  This app is great because it provides guidance about the kinds of answers you should give for each kind of question. Think of it as an essay rubric but for job interview questions.

                  Download it for Android.

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                  9. Job Interview Question-Answer

                  q and a

                    Feeling confident with your text-answered interview questions but concerned about doing the face-to-face interview? This app prepares you for interacting with your interviewer by simulating an employer asking you questions.

                    You can record your response and see what you look like to the interviewer to understand what movements, vocal pauses, etc. you need to work on.

                    Download this app for iOS and Android.

                    10. HireVue

                    hirevue

                      HireVue is a great job hunting app for those times when your interviewer wants to get some preliminary questions out of the way.

                      When an interested employer wants to interview you, they send you a request via HireVue and you can answer it in your free time, when you’re ready. Your interview might consist of a some FaceTime, some multiple choice questions or open-ended text answers and can be completed and sent to the interviewer when you’re finish.

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                      Download it for Android and iOS.

                      Featured photo credit: Yura Fresh via unsplash.com

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