Why Philanthropy Needs to Be at the Core of Your Business
In the digital nomad sphere, building relationships and making connections is everything. It is important especially if you are running your own business to be aware of the challenges you will face as a digital nomad.
But one of the ways you can alleviate the challenges while building relationships is to integrate philanthropy into your business strategy.
Related Article: The Challenges & Hardest Things About Being A Digital Nomad
Chances are, you won’t be in any position to make the same donations as corporate companies, but that shouldn’t put you off from incorporating some level of philanthropy into your day-to-day operations.
In the long term, philanthropic investments are known to improve profitability, grow your customer base, and improve your network. Plus, partnering with a charity or donating some of your profits will give your business and brand more meaning—which is a win for everyone involved.
Being A Charitable Business Enhances the Engagement of Your Employees
When running a business as a digital nomad, your employees will probably be located all over the world. This means that it is even more important that you to instill the values and ethos of your company in the hearts and minds of your employees in every way that you can while working remotely. Elliot Broidy is a company CEO and philanthropist and Broidy has developed a business model built around the principle that being charitable is an effective way to communicate the values of your company across your entire network, much to the satisfaction of your employees.
By being involved in philanthropy, your employees will know that they’re working for a company that is dedicated to making a difference in the world, which will lead to positive employee engagement. Employees nowadays want to believe in the mission of whom they work for and feel like their work is meaningful. With a great cause to support, companies will be exponentially more productive, as employees will be more inspired and engaged.
Being A Charitable Business Draws In More Customers
Another advantage of incorporating philanthropy into your business model is that it will draw in a greater customer base. Oftentimes, digital nomads may face the issue of gaining customers since most of their advertising will come from word of mouth or be done online. But if your brand is united behind a specific cause, customers will become more loyal to your business and be more likely to buy from you.
Just as employees want to be engaged in making a difference, customers also enjoy making the connection between your business, their experience, and community building. People want to know that the companies they are supporting are invested in making the world a better place. By showing customers that you care more about the community than your service or product, your customers will become more loyal to you and trust your mission.
Philanthropy is therefore a great way to enhance the engagement of your employees and your customers, for everyone wants to be united behind supporting a great cause.
Jenny Holt is a freelance writer and mother of two. She loves nothing more than getting away from it and taking her pet Labrador Bruce for long walks, something she can do a lot more now she’s left the corporate world behind.