Gail Sullivan, Founder & CEO of BECAUSE WOMAN, LLC
Philanthropy… The Missing Link in Your Business?
I recently attended a businesswomen’s luncheon on “Giving Matters” and heard one of our community’s most distinguished philanthropists state, “The joy of living is in the joy of giving”.
Surely you have heard the old adage that is sometimes described as the Principle of Giving:
“Give and it will come back to you – good measure, pressed down, shaken together, and running over.”
Many of the happiest and wealthiest individuals that I have met over the last several decades have commented that the “key” to their success has been in their generous giving.
Personally, I wouldn’t have it any other way, and that’s why philanthropy is one of my company’s key components. Consider the following ways to add value to your company through giving, and watch for the positive returns
5 Ways to Add Philanthropy to Your Business Plan
1. Put together a Philanthropic Budget.
Consider setting aside a portion of your monthly business income to be specifically used for philanthropy. There is a vast range of non-profit organizations in every community that could use your help. Every gift, great and small will be considered a blessing.
It’s so easy to say, “ I don’t have any money.” But then, when I think of how easy it is to waste dollars at a time on things that don’t really matter (like those daily fancy coffee drinks that are filled with calories that I’m trying to avoid or the newest office supplies that are bought in excess and never used). Contrary to all that, my philanthropic giving can help organizations achieve something that really does matter. You know what? I’m embarrassed that I haven’t given more and more often. Now is the time to change that!
Not enough cash flow? Consider budgeting your philanthropic services. 501c3 organizations always appreciate service gifts. For example, the local catering company caters 2 big non-profit fundraising events a year; a florist supports her favorite charity by providing the centerpieces for their annual fundraising event; and an entrepreneur of a local hair salon provides free haircuts, on the Saturday before school starts, to kids in a lower income neighborhood. What an awesome way to contribute!
2. Volunteer.
Philanthropy can also be in the form of service. Consider volunteering to help out at an annual event for a cause that you are passionate about. This is something that you can do personally as well as getting your employees involved. You will be amazed at how many people will join with you in your efforts to give back to the community.
For the last several years I have joined our local Boys and Girls Club to help hand out gifts to the children at their annual Christmas party. The first year my two daughters joined me. The following year several co-workers decided to come with me and continue to give to this day. Eventually the company I worked for became a sponsor of one of their annual events. It appears that philanthropy can be contagious.
3. Master the layups.
There are many community organizations that provide some of the most basic essentials for people in need. All of us can make a huge difference just by consistently giving our gently worn clothing to the Goodwill, or extra food to the local food bank. Consider having a seasonal giving drive for these events right in your office. Allow clients to participate and accept donations as well. These are easy layup shots that any business can incorporate.
4. Take it to the next level.
Do you sometimes feel that your gift is so small and wonder what good could it possibly do? A giving “team” boosts donation dollars to the next level. That’s right, get others involved… family, friends, co-workers, clients and even prospects. Does your company hold any type of annual event? Consider adding a raffle in which all the proceeds go to a chosen non-profit group or cause. Allow all attendees the opportunity to participate.
I recently held a company event and had determined to give a percentage of the income to a local cause. I was disappointed when I realized how small that donation would be. I decided to brainstorm about how I could give more. I took a third of the money I was going to give and bought an amazing raffle prize for the event and announced where the proceeds were going. The donation ended up being almost 3X what I was originally going to donate. Bravo!
5. Never underestimate the value of a small gift, and don’t hold back on giving a larger gift when you know the time is right.
“Despise not the day of small things!” Everyone starts somewhere. Become a consistent giver in the small opportunities that exist, and over time, you may develop into an experienced, generous philanthropist.
As you begin making philanthropy a key component in your company, begin to notice what happens. Time and time again, I end up with so much more in return. The effects are amazing! The people I work with seem happier. Somehow, this “giving” component allows for something great to occur in the workplace. Goodwill manifests itself and my clients and prospects like that. My business begins to change, for the better. I feel like I begin to change for the better. And all this just makes me want to give more.
Recent research also shows that there is a correlation between philanthropic giving and sales. (Network for Business Sustainability, Use corporate philanthropy to grow your top and bottom line, Source: Strategic Management Journal, How corporate charitable contributions enhance revenue growth. (2009) Baruch Lev, Christine Petrovits and Suresh Radhakrishnan)
If you are attending the eWomenNetwork Conference in Dallas this month, you will witness firsthand the impact of generous giving. Throughout the year there are many opportunities to give to the eWomenNetwork Foundation. You will be inspired at how your philanthropic contributions can accomplish great things!
Gail Sullivan is a Platinum Member of the Chairman’s Circle
