Connect with the community

Giving back is something I do regularly. Is it because I believe in charity? Sure, it is. But I’m not presuming that everyone in the world feels like I do or does it for the same reasons. Today I’m going to talk about some of the business benefits of giving back, though.

Recently, I witnessed the opening of the Tim Grittani school in Bali, Indonesia. It’s the culmination of many months of hard work. As well as seeing a great school opening in a developing part of the world, I built a lot of relationships through it. These are both personal and business.

It’s natural you’re going to the network when you’re working in the community, says Alexander Djerassi. so this can be just as valuable as attending a business conference.

Build your social media following.

We all know that vital social media is to building anything these days, says Alexander Djerassi. When you give back you can build your social media following, and the cause you’re working with. It’s a win-win relationship for all. They’re accessing a new audience and you’re accessing a new audience.

NOT the tax benefits.

I’m well aware that a lot of wealthy Americans give back because it’s great for their taxes. But while I acknowledge these benefits, you can gain far more for doing it for other reasons. You’ll simply feel better by giving back. It’s good for the soul.

I know firsthand how beneficial this can be for my business. I’m optimistic, I feel good, and I’m indulging in something I’m passionate about. That all leads to better performance.

Increasing exposure and advancing your career.

There’s a reason practically every corporation in the land spends time performing acts of good will. They want the business world to see them as charitable. It enhances their exposure and it creates a story during quiet periods. If you’re not releasing a new product then what do you have to talk about?

Be a well-rounded citizen.

The most important reason to give back, in my opinion, is that it makes you a well-rounded citizen. For me, I believe I have a civic duty. I believe that it’s my duty to pay it forward and to help those less fortunate. It gives me motivation in both my personal life and my business life.

Modern society gives some great rewards to entrepreneurs who find what people need and want, and provide it. This exchange is a huge part of the free-market philosophy that has led to much prosperity (although unfortunately not for everyone). Successful business people are well rewarded for their ability to provide what society wants. Sometimes these people make for good philanthropists, even if many are still stingy with their wealth.

Charitable acts are performed without the expectation of direct financial gain, but they certainly are not without their own rewards. Here are four of the major ways that successful business people and even you can benefit by giving to charitable causes.

Building respect and a good reputation in the community.

A company's leaders can identify needs within the community or ask prominent local organizations what they need help with, and make targeted efforts to contribute. The relationships formed between customers and prominent community members can be of great value to the company in the future. When businesses help other people, those people tend to want to support the company in return. Building a reserve of goodwill in your community means there will be people there to back you up and speak up on your behalf in the future.

A now-classic example of this is Facebook. The company’s move to the old Sun Microsystems campus in Menlo Park a few years back and raised concerns from people in the community about the effect all those new Facebook employees might have on the city and its infrastructure. There were thoughts from some that it might cost the city more than help it in the long run. Facebook spent millions of dollars in the area on things like improving bike trails to reduce traffic impacts from all the new workers coming in and out of the area each day. The company also famously donated $120 million to schools near the campus, a move which generated quite a bit of positive publicity, but also the negative opinions of those who felt the social giant "bought off" the community (haters are gonna hate, as they say).