The role of philanthropy in business is obvious: any business will benefit from giving back to their community. All leaders and young entrepreneurs should consider becoming philanthropists, helping people in need. For some entrepreneurs, giving back to their communities feels like it is part of their job, feeling grateful for what they have accomplished.
In what follows, we will provide some leaders’ explanations regarding the importance of philanthropy in business.
Torry Holt is the co-founder and Vice President of Holt Brothers Inc. He and his brother work together to support kids who have a parent with cancer. Torry Holt claims that there is no greater satisfaction for an entrepreneur than knowing that they made a difference and they brought their contribution to the world.
Generally, great corporate citizens would want to do business with people who share the same values as they do. Philanthropy in business will help any entrepreneur develop relationships with potential clients. You build brand awareness through philanthropy. By organizing all sorts of events, companies get to better know their sponsors, starting to develop even greater relationships.
Besides building your brand, you will also develop employee engagement. This is a core value that promotes employee engagement. Therefore, what you do will inspire others and will infuse passion in people around you. Your employees will have more drive and energy.
John Boitnott is an investor, digital media consultant, and a journalist. He says that learning what people want and need and doing your best, as an entrepreneur, to fulfill their needs it is really a great thing. These people are some of the best philanthropists, caring for their clients. They plan charitable events without expecting a direct financial gain.
If you give back to your community, you will develop a good reputation and respect. When your business helps others, those people tend to desire to help you back and return your favor, showing their gratitude. Therefore, the relationship you build it will help you have someone who will speak up on your account and back you up when you will need it.
John Boitnott claims that giving back it will help entrepreneur change their community, developing into a better place for everyone. Besides improving the image of the company, the results will also indicate that the community you live in transforms into a better place.
Mark Zuckerberg, the owner of Facebook, is also a philanthropist. His deeds are also in accordance with John Boitnott’s idea about transforming the community into a better place. Zuckerberg has donated to several schools, having a great impact on the children who live in that area. Many schools in the East Palo Alto had poor resources. After receiving Zuckerberg’s help, they became well-equipped, helping their students evolve.
These successful entrepreneurs and philanthropists indicate that the role of philanthropy in business mainly relies on the idea of helping others. Your good deeds will raise brand awareness, and the number of sponsors and clients will increase. Giving back to the community is taking a step further to transform the world into a better place.
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