What Everyone Ought to Know about Business and Charity
Your local community is crying out for business to come to its aid, and it is not that difficult to answer the call.
Yesterday I highlighted TOMS Shoes as a worthwhile example of how a company can integrate donation into its business model. Sure, it’s easy for them since they started that way, but how do we do that at a local level with an established company? Here’s some steps you can take to successfully start donating your product or services to charities:
- Find a charity or organization that supports your values.Many times when people hear of donating to charity or being “socially responsible” they automatically think of giving away money or volunteering somewhere. I’m sure the Red Cross and Salvation Army want and need your donations, but is there a local charity that shares the same core values as your business and will make a more immediate local impact with your help?
- Conduct an interview with the main representative for the nonprofit to see how passionate they are and find how well they run the business side.Not all local nonprofits are well run; some suffer from serious internal politics, a premature bureaucracy, or just poor management. Sitting down with the principle representative of the organization and finding out directly what their goals and values are will give you a much better idea of how your company can partner effectively with the nonprofit.
- Find a way your product can fit with the mission and goals of the nonprofit organization.This is probably most important. How can your company directly assist the nonprofit organization? In terms of your product or services, how can you help them from your values and strengths, not just with money? You are in business to sell a product or your services, don’t bypass your business model and just give away money because it’s a charity. Think of them as a customer and your payment is the renewal of the local community, which affects your bottom line and health of the business in the long term.
- Dedicate a fixed percentage of profit each month to purchasing your product or services for the nonprofit.How much should you give? I advise you set aside a fixed percentage every month to purchase product or your time to giving to the organization, but the actual number is based on what you need to continue operating your business. This would be a fantastic opportunity to take a hard look at your numbers, see what you actually need to meet payroll and your other obligations, and then decide how much of the profit you are willing to invest in the community.
- Monitor and solicit feedback.It is easy to sit back and just let things be; set a percentage, agree to that amount, feel good about yourself, and then move on to more important things. But the point is to actively engage with the nonprofit and its mission. How are your efforts received, is it enough, too much? Would another product or service be a better fit for this month? Establish some kind of feedback system, monthly reports or the like, so that you can have a continued dialogue with the nonprofit.
With a little planning and effort, you could make an forceful impact on your community and be the catalyst that brings about its renewal.
