When you’re launching a small business, the initial push to turn a profit can be exhausting. The idea of donating a portion of your proceeds to charity is a lovely one, but not as lovely as the idea of putting food on the table. Yet with enough time and hard work, your small business plans become a reality – even the ever-elusive profits.
Once you’ve found your financial footing, you may be interested in adding a charitable initiative to your business plan, but aren’t sure where to start. Recognize that this decision is a personal one, and it depends on both your individual preferences and on your business’s resources. Here are several questions to help you discover the best way to give back with your small business:
- Which charitable causes are most meaningful to you, and why?
- Will these still be meaningful to you a year from now? How about five years from now?
- Do I want to give back on a local level, or a national one?
- Many independent local business owners have a desire to give back to their own community, which leads them to support either local independent charities, or local chapters of large national charities.
- While it tends to be easier to secure donations to well-known organizations, smaller nonprofits often have a greater need for promotions and business partnerships, which can make them more receptive to your involvement.
- Which causes would appeal to my customers?
- How can I use my existing products or services to benefit these causes?
- Would my employees be involved? Would their involvement be voluntary? If not, how would they be compensated?
- Which cause is the best fit with my business’s brand? How will I promote my efforts?
- If you have an employee dedicated to managing your public relations, it’s a good idea to include them in this discussion.
- How much funding can I spare to launch a charity initiative? How much time can I spare?
- Business owners with limited funds can still be involved by volunteering with their employees, or by promoting their charity of choice on their company’s social media and website.
- Those with time constraints can create a consistent sale in which a specific portion of proceeds from a certain product/service always benefit a charity organization. Another option is becoming an official sponsor for a nonprofit event, which generates extra promotion for your business.
Incorporating a charitable initiative into your small business does take some extra work and creativity. But if you take the time to channel your passion into a strategic plan, the reward of making a difference will be well worth the effort.
