Profit with Purpose Increases Bottom Line
A 2014 Nielsen Survey says, “Fifty-five percent of global online consumers across 60 countries say they are willing to pay more for products and services provided by companies that are committed to positive social and environmental impact.” That means it is easier to grow and scale your business if you are connected in some way with creating social change. Social responsibility increases your bottom line.
Treat Philanthropy Like a Business
Saving the world is a business. Naveen Jain is an entrepreneur who owns several companies and serves on the board of several non-profit organizations. He writes in Forbes magazine, “We must apply the same models for success in our philanthropic endeavors as we do in business.”
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Give First, Share Always, Lift as You Climb
e First, Share Always and Lift as You Climb.” The Foundation is at the very heart of the company. Below are the goals of the foundation. It’s really a mission statement, just as you would have for your business.
- Raise funds in support of health, safety and wellness initiatives that benefit women in all phases of their lives.
- Provide financial and networking support to female students who have achieved academic excellence and demonstrated a commitment to success as a business or professional leader.
- Establish partnerships with non-profit organizations, corporations, and local, civic, and governmental agencies who can provide resources to our target population and help to raise funds for them.
- Share the vast collective talents, experience and wisdom of thousands of eWomenNetwork members with women in need and to support future business and community leaders by “femtoring,” educating and training them.
- Encourage an environment of caring, healing and growth for women and children by helping them to achieve their optimum potential in all spheres of their lives.
7-Steps to Profit with Purpose
Corporate Social Responsibility (CSR) has become the new norm for business. Not only do consumers want it, but according to a Deloitte survey, 70 percent of millennials listed their company’s commitment to the community as an influence on their decision to work there.
Public Relations specialist, John Pilmer, writes in Entrepreneur Magazine that there are basically 7 steps to “upping” your CSR game:
- Think about your stakeholders – How you operate affects the lives of each of all of your stakeholders including your investors, partners, customers, employees and community.
- Define your mission – Integrate your social goals into your business plan.
- Find out what is important to you – What is important to you AND your customer?
- Look for opportunities – Learn about the issue and ask “influencers” what will make a real difference.
- Consider a partnership – If your company and your passion match up with another organization’s goals, partner-up!
- Mean what you say – Back up your company’s corporate social responsibility mission with genuine passion, words, and actions.
- First do good, then talk about it – in that order!
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Begun is Half-Done
To sum up…giving is good for you, your customer and your business. Your first step is to adapt the mindset that social responsibility is becoming a way of doing business. It’s part of the very fabric of our corporate culture.
With all the negative news and violence we see in the world. This is one bandwagon that is worth jumping on.
Author, Curator of Globe-Changing ContentPhyllis SmithContent Manager, eWomenNetwork