Think supporting charities is an altruistic act that requires you to forgo maximal gains with respect to your business?
It might be time to re-think that philosophy, as it has been shown that helping the less fortunate in our society provides real benefits that skeptics have been leaving on the table.
Robert Bassam has engaged with charities in his local area for years, and it has brightened his life and ultimately improved the results of his business.
Wondering what he and other entrepreneurs have gained from supporting charities over time? Below, we’ll go over several benefits that will improve your bottom line as well.
1) They learn to give without expecting anything in return
This is the contention many have a problem with: to skeptics, giving to charity feels like throwing money into a pit that they could have re-invested in their business. They think of it like a zero-sum game – in order to make the world a better place, they have to lose.
While some aspects of this are undoubtedly true, learning how to give of yourself without expecting a prompt payback allows you to feel the true joy of charity – if you view it as a chore, you are less likely to do it.
Secondly and most importantly, anecdotal evidence has suggested that givers have often been the unexpected recipients of resources they desperately need.
While this is an unscientific assertion, generations of successful people have sworn by this maxim, so it at least bears repeating so you can make up your own mind about it.
2) They get to expand their network
For the reasons previously stated, many successful people habitually engage in philanthropy. When you begin volunteering your time, you will have access to these individuals, making it easy to build relationships that can help boost your business to the next level.
Additionally, your involvement with charity will make it easier for them to partner with you, as you will viewed as someone who is less likely to be in a deal for themselves.
3) They get to exercise their problem solving skills
When you first got into business, it was with the intention of solving problems that were causing issues for people in your target market.
When you get involved in charity, you are in effect doing the same thing, only you will be applying your problem-solving skills to solve social issues rather than business problems.
Once you get to the point where your company has left the runway and has achieved lift, it can be easy to engage autopilot, but it comes at the price of atrophying your ability to think your way out of conundrums.
Getting involved in your community exposes you to new problems on a regular basis, thereby ensuring your mind stays sharp.
4) They learn more about the community in which they operate
When you spend most of your time sitting at your desk devising business strategies and the rest recuperating at home, it can be hard to learn about your community.
Between visits to the grocery store and the occasional outings to the park or theater, most only get a surface level appreciation of what’s there.
When you donate your time to charity, though, you delve deeper into the people and support systems that exist, allowing you to more fully appreciate the place you call home.