Published on October 16th, 2015 | by Falcon0
Will philanthropy make you more successful in business?
Being a philanthropist will not only enable you to make a difference but will also contribute towards the success of your company. Philanthropy gives businesses the chance to get involved with their local community and can be particularly beneficial for small businesses, or for those who are looking to start their own business.
Becoming a philanthropist not only gives you the chance to help others but also to become a better businessman. Philanthropy provides many benefits for entrepreneurs, such as giving them the opportunity to meet new people and gain recognition. Companies can apply their business methods when it comes to making philanthropic investments. Business owners often do not expect any financial gain, as they are donating money for a good cause, but doing so will help to boost the reputation of their company. This is why philanthropy can help small businesses to become successful.
Philanthropy can help to increase consumer interest. If consumers see that a business is helping a charity that they are passionate about or getting involved in the local community, then they will have a much better impression of the company. Philanthropy can also help to create a better working environment, as some small businesses may hold philanthropic activities, which will enable employees to get involved and build up better relationships with each other. Philanthropy can also help you to gain respect from your employees.
There are many entrepreneurs who are philanthropists. Hansjörg Wyss, a Swiss entrepreneur, has made many philanthropic investments, including contributions to European museums and a number of history projects. David Koch, an American businessman, has made many contributions to cancer research and is part of the Prostate Cancer Foundation.
Another example is Lord Laidlaw. News such as Lord Irvine Laidlaw sells business shows how he has made many contributions to charity. These include a £2 million donation to The Prince’s Trust and a £1 million donation to Merchiston Castle School. He is also a donor to the Rural Education Access programme.
Whilst these philanthropists are already highly successful, you can still make an impact even if you have a small business or you are just starting out. Getting involved in your local community and organising fundraising activities can help you to easily become recognised and enable you to start building up your business. There are many types of activities that you can do without your business having to spend too much.
Many business owners choose to become philanthropists due to their own experiences. If you have had an experience with an illness or feel passionate about a particular cause, then this can give you the drive you need to become a philanthropist. This will be even more beneficial to your business, as you can actively show your support, which will result in a better response from consumers. If you are just starting out, then holding a public event to get any potential consumers involved will also help to build up your reputation and increase your chances of becoming a successful business.