Some think that charitable giving is little more than an altruistic venture, as it forces you to deviate from the pursuit of maximum profits.
This attitude towards philanthropy is misguided, however, as aiding those who have less confers benefits that aren’t available to those who don’t give of themselves.
Robert Bassam has been firmly in the philanthropic camp for some time now, as he contends it has improved his outlook on life and the performance of his business.
Want to know how philanthropy can benefit your business? Below, we’ll explain how getting involved in charity can be a net positive for your company and your life.
1) Givers get in the end
Many skeptics cite their hesitance to donating their time and capital to causes where there isn’t any immediate benefit, as they feel their money is better spent growing their company.
First of all, charity is an investment in your own humanity. People who engage in it are able to finally able to feel the amazing feeling that only giving can engender in a person.
After gaining the sense that they are no longer a non-participant in their community, it lightens the load on their conscience to carry on with whatever business they are involved in.
Additionally, it has been demonstrated that those who give selflessly are often the beneficiaries of unexpected help with respect to their businesses and personal lives.
While these occurrences are hard to quantity, successful individuals through the ages swear by it, so it is certainly worth mentioning so you can decide for yourself whether it is true or not.
2) You’ll grow your contact list
Successful businesspeople have long engaged in philanthropy, many for the reasons previously mentioned.
When you give freely of your time to help local causes, you will be able to spend quality time with these individuals, allowing you to forge relationships that can only help the fortunes of your company.
Partnerships with also become easier, as you will be seen as a person who cares about things other than their own personal fortune.
3) You will get better at solving problems
Solving the biggest issues people had was the initial reason you got into entrepreneurship, but as your company matures, the knife can get dull, making it hard to respond as conditions in your market shift.
Getting involved in charitable causes gets your synapses cracking again, as there are many challenges facing the most vulnerable in your community that haven’t been addressed adequately over the years.
Not only will you be helping those that need help the most, but you’ll also keep your entrepreneurial spirit instead of slipping into a place of complacency that afflicts those in established companies.
4) You’ll learn more about your local community
Behind your desk, it can be tough to truly appreciate what your community is like. Apart from passively observing people at the supermarket or during a walk in the park, few get to see the support structures or to meet folks outside of their social circle.
When you get involved in charity, however, you’ll get exposed to these things, which will grant you a fuller picture of the city or town where you live.