Supporting your community can be expensive. Even large organizations have to be careful about how and where they lend their time – and money. For the small businesses and independent consultants these issues can be even more challenging. Is there value – beyond personal satisfaction – in supporting local events and activities? Which ones? How can you say “no” graciously to the many requests that come your way?
Research from the Council on Foundations indicates that over a 10-year period, companies with good corporate citizenship images and programs enjoyed a 33 percent lead in growth of profits over competitors without such programs.
When done strategically, these efforts can pay off – both for you and the organizations you choose to support. But strategically is the key word here. The factors that go into determining whether you will support specific goodwill advertising or contribution requests are the same factors that go into virtually every business decision you make: your market, your business objectives and the resources you have available (your budget).
It can pay to have a plan. Start with the end in mind. What are your overall objectives? Where do you want to put your stake in the ground? By focusing, rather than spreading your resources over a variety of activities you can make a difference that supports the community and your business objectives.
Recommended reading:
20 Great Leaders on Strategic Corporate Philanthropy
