How Corporate Philanthropy Can Grow Your Business
I was recently a guest on Growth Igniters Radio with Pam and Scott Harper. Here are highlights from our conversation:- Historically, philanthropy was something nice to do. Now, to successfully conduct business, it’s essential.
- Typical returns on philanthropy include branding improvement, employee engagement, and community enhancement.
- Employees care about where they work. A company that gives back to society in a meaningful way has a powerful tool to attract, recruit, and retain.
- Return on philanthropy data is depressed because the data collectors don’t sort strategic companies from “nice” businesses.
Practical and Tactical
How to Use Corporate Philanthropy to Grow Your Business
- Start selfish: Ask how can I solve my business challenges in a way that also benefits the community?
- Pick one, maybe two nonprofit missions, that resonate with employees and the community. Then seek to create multiple wins.
- Measure your partnerships: seek bottom line results and critical success factors, i.e., did I touch ten customers and met five prospects via the partnership?
- Meaningful business philanthropy drives success because it means you graduated to a,”What’s my bigger purpose?” mindset. You move into a sphere, where you say, it’s not about money, but about making a difference.
Listen to or read the episode. Click this link.
