Practical and Tactical? Yes! 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.