Business is by far the best way to build your wealth and freedom. But does your business go beyond you and your family and reach out into the community? Are you making a difference in the world? Is it important to you to make a social impact?
When you add that social impact to your business — it feels good. The real impact goes beyond that good feeling though. It can actually impact your business results because your clients and customers LIKE to feel good too. When doing business with you helps them to make an impact — then they feel good and want to do more business with YOU.
So, what can that social impact look like?
There are several models that can work for any type of business. Let’s look at a few.
The Direct Donation Model:
Choose a charity that you are passionate about and make regular donations — a percentage of each purchase or a percentage of profits. Another way to provide a direct donation could be to directly donate your product or service.
Buy One/Give One Model:
You can choose to donate an item like the item that was purchased. Similar to Tom’s shoes. With each shoe purchase, Tom’s donates a pair of shoes to someone that needs shoes.
You can choose to donate your personal services to people that need your service or to a charitable organization such as the United Way or Red Cross.
You can choose to partner with a charitable organization, providing an array of supports to the organization.
I am sure that there are many other innovative ways to make a social impact. What models have you used in your business?
I have found that creating a model for your business that is in alignment with your mission and values feels best. Here at Compass Rose Consulting — we work with entrepreneurs and non-profits, with a focus on women in business and women focused non-profits. Our model of impact is multi-dimensional. Here are the ways that I give:
Service — I serve on two boards — one non profit and one networking organization. Through the networking organization, I work to raise funds for a domestic violence shelter.
CRC Service Donation — I donate strategic planning to a non-profit board each year.
Monetary Donation to Support Women Entrepreneurs — I donate money to support women entrepreneurs — a percentage of registration fees or coaching fees are donated through other organizations that work with women worldwide to support women.
Marketing Your Impact –
The other benefit of your social impact is sharing it with your customers and prospects. Customer’s want to do business with socially conscious businesses, environmentally conscious businesses. Sharing how you achieve this helps them in their decision making. This needs to be done with care! Images of course are essential. When you have supported an organization you can ask to use their logo or image from them. Be sure that you do this with class.
Some businesses will include information on their packaging about their earth friendly practices, or inside of your cereal box. Get creative! It can be fun!
How can you add information to your marketing about your social impact? What type of marketing feels right and in alignment with your business?
Are there other ways that you can increase your impact that benefits your business and your community? Creating win-win solutions is key.