RETAILOBSERVER.COM JANUARY 2017
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S E R V I C E D E P A R T M E N T
W
hile giving back should not come with the expectations
of a return, it is however the collateral affects, such as
acquiring customers who embrace your cause, which
you cannot control.
Philanthropy helps build relationships with clients and potential
clients. It helps build and support your brand and it promotes
employee engagement. And, let's face it: good corporate citizens
want to do business with others who share their values of giving
back to the community.
Entrepreneur.com says: "Think of the NFL and the United Way".
The NFL has done a great job associating itself and the players with a
charitable organization that does good work for communities
throughout the country. It makes you feel good when you see a player
giving back to his community. In other words, the act of giving back
evokes emotions and fosters connections with people of like minds.
So how does giving back help your bottom line? A Harvard
study on 30,000 American families discovered a family giving
$100 more to charity earns about $375 more income than a non-
giving family who is similar in every other factor. For every dollar
they give, they earn nearly $4 more. That's four times more or an
80:20 ratio to be exact. In giving we receive or is it simply that
people who have more are able to give more? In my experience, it
tends to be the opposite.
Entrepreneurs tend to be more generous than most. On the
average, entrepreneurs give 2.53 percent of their gross profit,
versus 1.27 percent for everyone else. Entrepreneurs give more in
every income bracket, according to a study of IRS data by the
Center for Data Analysis and the Heritage Foundation.
Now, let's talk about how philanthropy makes a difference in your
business.
P H I L A N T H R O P Y I S P A R T O F W H O I A M A N D I C A N
T E L L Y O U T H A T T H E R E I S N O G R E A T E R F E E L I N G , N O
G R E A T E R S A T I S F A C T I O N , T H A N K N O W I N G Y O U ' R E
M A K I N G A D I F F E R E N C E . B U T G I V I N G B A C K T O Y O U R
C O M M U N I T Y I S A L S O G O O D F O R Y O U R B U S I N E S S .
PHILANTHROPY
AND YOUR BUSINESS
Want to make more money? Give more away!
