Why Is Giving Back to the Community Important to Grow Your Business?

Now Is the Perfect Time to Start Giving Back. But How?

Question: What do Starbucks, TOMS Shoes, Salesforce, and Patagonia have in common – apart from being large and hugely successful businesses in the United States and beyond? 

Answer: they are all businesses giving back to the community.

Small businesses do not always think about how important it is to give back to the community. However, this does not mean that they should stop doing their part. It is important for any business that wants to grow, succeed, and exceed expectations to show that they commit to acts of kindness.

In this article, we discuss why it is important to give back to the community, look at a few businesses that give back, and outline some ways your company can start to give back.

How do businesses benefit from giving back to the community?

Giving back to the community is important for every business, and is a wonderful way to build a positive reputation. The following four ways in which companies benefit from giving back demonstrate the importance of giving back to the community you serve.

  1. Giving back creates a positive image of your business

Your company is a part of your community. The more you give back, the more it is seen as a good, reputable company. If you are active in your community, it makes people feel like they can trust you more.

  1. Giving back differentiates your company values from competitors

Giving back to the community is a terrific way to differentiate your company from competitors. You can also choose ways to give back that align with your personal values and mission. Some businesses even have charitable causes as part of their business model, such as donating 5% of their profits each year to charity.

  1. Giving back helps to grow your connections and networking

Giving back is a fantastic way to show your gratitude and appreciation for those who have helped you on your journey. It also provides a fantastic opportunity to meet new people and establish friendships and mutually beneficial relationships with those you serve.

  1. Giving back attracts new customers and gains their support

By giving back, you show that you are invested in making a positive change in your community. If a company is new on the scene, this will be crucial in attracting new customers and gaining their support.

Examples of companies that give back

Starbucks

Starbucks gives back to communities in America and Canada through its Starbucks Foundation and invests in coffee-growing communities and social projects around the world via Starbucks Reserve.

It makes neighborhood grants, invests in response and preparedness programs in communities affected by natural disasters, and has invested more than $25 million in coffee and tea-growing communities.

Starbucks is valued at around $135 billion.

TOMS Shoes

When Blake Mycoskie saw how many children in Argentina have no shoes, he decided to do something about it. He founded TOMS Shoes, with a specific goal: a match program to donate one pair of shoes for every pair the company sold. 

So far, the company has donated 60 million pairs of shoes, and counting. It has also helped to restore sight to almost half a million people, and donates to charities that promote clean water, safe childbirth, and anti-bullying, among others. 

Oh, and Mycoskie is worth north of $300 million.

Salesforce

Salesforce has a mission of ‘Opening the doors of opportunity so that everyone has equal access to a quality education, meaningful career, and prosperous future.’ 

It partners with schools, nonprofits, community leaders, and employees to develop philanthropic and strategic programs to provide needs-based support to its global communities.

To date, its impact includes giving $475 million, six million volunteer hours, and hosting 1,000 interns and apprentices through its untapped talent programs.

Founded in 1999, Salesforce is now valued at more than $280 billion.

Patagonia

Patagonia has pledged 1% of its sales revenues to help preserve and restore the natural environment since 1985. It has awarded a total of $140 million in cash and in-kind to environmental groups around the world, and its founder has helped to create a nonprofit corporation (1% for the Planet), an environmental responsibility program, to encourage other companies to do the same.

Patagonia is now valued at around $455 billion.

How can you start giving back? 

Giving back can be a difficult endeavor. There are many people and organizations out there that need our help, but it can seem overwhelming to figure out where to start or how much time or money you can give.

The truth is giving back doesn’t require much at all – every little bit counts. The important thing is that you take the first step and decide what organization or cause resonates with you most deeply – which connects best with your values, mission, and purpose?

It’s also worth noting that there are many ways to give back. While donating money is one option, volunteering your time or expertise is another way that you can contribute your time and energy to making a difference in someone else’s life.

Here are a few ideas:

  • Donate part of your profits once a year

You don’t have to be a Fortune 500 company to give back. In fact, many small businesses are turning the one-time idea of giving back into a yearly event. Pick a number that you are happy with, and that is sustainable, and commit to donating to your cause. 

  • Volunteer to do conferences

Volunteering at conferences can be a wonderful way to give back to the community and gain valuable networking opportunities. You can volunteer as a speaker, moderator, or exhibitor. Event organizers have found that volunteers are an invaluable resource for their events because they provide free labor and often bring in new skill sets which help them reach their event goals.

  • Organize charitable events

What charity or cause aligns with your values and purpose? What organization or group of people in your local communities need to raise funds? Organizing a charitable event to raise money to support local homeless, a local school, a care home, local youth groups, local food banks, and many more is an excellent way to give back.

  • Offer to do what you’re good at

Volunteering is an amazing way to give back to the community. So, offer to do what you’re good at. Coach local kids in sports. Volunteer as a physio for a local club. Give motivational talks on movement for the elderly or weightwatchers.

Research shows that volunteering can improve your physical and mental health, as well as your self-esteem. It’s also a great way to network with people who align with your values.

  • Partner with nonprofits

Nonprofits are an integral part of society that help others in need, but they often have limited resources and labor. When you become nonprofit partners, you can provide them with the necessary funds and resources they need to continue their magnificent work.

  • Meet with smaller entrepreneurs to give back

You’ve been blessed with success. What better way to give back than to help others achieve similar success? Give back to the next generation of entrepreneurs by sharing your knowledge and experience, and giving advice and encouragement. Seeing other entrepreneurs grow their business is the most rewarding part of mentoring.

Get started today

Today, right now, is the best time to start giving back. Make a plan. Pick your causes. Let your clients know. Add a description of what you are doing and why to your website and social media.

Every little bit helps. Plant a tree. Donate a gift card. Give to one million meals. Run a marathon to raise money for breast cancer.

If we all gave a little time or money to the causes that matter most to us, the world would be a much better place. Make giving back a deliberate action that you clear space in your diary for, and remember, it’s about why you do what you do.

Let us get the ball rolling, by giving back to you: book a free call with Level 5 Mentors today.

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