10 Reasons to Give Back: Helping the World and Yourself

Something many Entrepreneurs are scared or disinterested in doing is giving something back to the world. It is understandable because giving something back has no direct effect back to you instantly like getting that client payment check. Or does it?

When you give back to the community (be it local or even the world) the repercussions are greater and longer lasting than you may think. Here are 10 reasons I have put together why an Entrepreneur should give back.

1. The Feeling. This is the most cheesy one I will write about but it is important enough  in my mind to add first. When you really do good for the world, you will have an instant feeling of gratification. You won’t only feel good but when you have this feeling, your productivity may rise as well as the productivity of those around you that were involved.

2. Tax Deductions. This is a no brainer. Whether you are giving money, time, services, or products for free, you are eligible for a tax deduction in that amount for your business income taxes. Not only will you be doing good but you will get a little back for it.

3. Press. Media eats up a good story for the heart. These stories rarely make front page headlines but are targeted in the specific section of your market. If you sell art, a story about a donation you made would run in the Arts and Entertainment section. This reaches your target. Free exposure!

4. Marketing. When you do good, you don’t have to sit on your hands about it. Let it be known! Put your good deed into marketing materials to make sure your target knows about it.

5. Public Relations. When bad is done word spreads fast but when good is done, word can spread even faster. Do something good that will be talked about and the people will talk. Your public will like you better for it. Every action you take as a business effects your PR. Why not easily add some good points?

6. Profit. This is something few consider. If you do good in the world, it does have a tendency to be brought back to you. Giving back can lead to profits. People like companies who are not just in it for the money and by giving back, you are showing potential customers you are just that. Do good and it will most likely lead to more sales.

These last four are more vague and less centered on the Entrepreneur but are still just as important. These are the effects, not on you but on the world! 

7. Short Term Effects. When you give back to your community, it will help directly to the person or people you are giving back to. Their lives will be more enriched because of your help.

8. Long Term Effects. Giving back is a catalyst. It starts a chain reaction of goodness. As “Pay It Forward” as that may sound it is not just a movie dream. It really happens. The people you help then have the opportunity to help others. Any one else who sees your business giving back, is more likely to give because businesses are put in positions of authority in our country.

9. It’s the time of the year. It’s Christmas (or Hanukkah, Kwanzaa, Chrismukkah, festivus, etc.) and during this time of the year it is tradition to give back in thanks for everything you have gotten this year. We as a nation are a very lucky people and need a time of the year for this.

10. Just the Right Thing to Do. It’s true. Giving back is the moral thing to do. People need help from others. You as an Entrepreneur spend most of your time making profit for yourself. This is not a bad thing but to try and balance your life a little, try giving back. Because of the reasons on this list (yes, including number 1) it is just the right thing to do.

This is the first of two post. The second 10 Ways to Give Back is coming soon.

Photo by Felix Francis