'Tis Better to Give Than Receive -- Even for Small Businesses
For many small businesses -- and especially retailers -- the holiday season is all about maximizing sales. Nothing else really matters.
That’s understandable. Many retailers ring up a significant portion of their sales -- and most of their profits -- in the fourth quarter. Boosting holiday sales any way you can needs to be your top priority.
Giving as a business opportunity
But if that’s ALL your business cares about, you’re actually missing some important opportunities. You're losing the chance to make a positive impact on your community -- and to make a place for your business in that community. And those are gifts that keep on giving long after this year’s Christmas trees have been mulched into pulp.
In fact, business during the holiday season is really about giving. You’re asking your customers to spend their time and money to give to their friends, loved ones, and business associates. Shouldn’t you be doing the same?
That culture of giving can take many forms. Sometimes it’s just about buying something nice for your employees, your customers, and your clients. There are good reasons you encourage others to give gifts -- like strengthening relationships and building good will -- and those reasons probably hold true for your business, as well.
Yet that’s only the beginning of what it means to give.
As much as retailers might like to cast the idea of giving only in terms of buying presents, there are a million other ways to contribute to the community that also benefit your business.
What can your business contribute?
So what do you do, and how do you get started? You can certainly donate money to your favorite community projects and organizations. Cash gifts are flexible, and they allow the recipients to spend money where and how they see fit.
But if you run the right kind of business, it’s far better to contribute your time, expertise, and products in lieu of cash.
First of all, giving things you know, make, and are good at leverages your contribution far beyond its nominal dollar value. If you’re a marketing expert, your marketing services are likely to be much more valuable than their cost to you. Similarly, restaurants that donate food deliver the full retail value -- but they're only out the actual cost of the food. And if the food would have gone to waste otherwise, there are zero incremental costs. Everybody wins.
If you can’t donate your business’s actual products or services, you can still contribute your general business expertise via your local chamber of commerce or nonprofit groups. You may also be able to give presentations to groups that can benefit from your knowledge. At the very least, you may be able to use your business’s facilities and equipment to host events or work on community projects.
More articles from AllBusiness.com:
- Finding the Best Location for Your Small Business: 5 Factors to Consider
- The Importance of Strong Sales Leadership in Nonprofit Businesses
- 5 Tips for Creating a Volunteer Time Off Program at Your Company
- The Hidden Benefit of Giving Back—Motivated Employees
- 5 Ways to Gain New Business by Giving Back to Your Community
Helping your employees help others
Finally, don’t forget the power of your employees. Matching their charitable contributions is a great way to encourage giving, and it’s something many workers really appreciate.
I know one architecture firm in San Francisco that hands each worker a $50 check along with their end-of-the-year employee bonuses. Recipients can do whatever they want with the extra cash, including keep it, but are encouraged to donate it wherever they think it will do the most good.
If cash is tight, another option is to allow employees to take a certain amount of paid time off for volunteer work. Your out-of-pocket costs should be relatively low, and this approach can help your team volunteer during business hours, when many organizations really need the help.
Even it’s not your main motive, don’t underestimate the good will that these actions can foster. Just as employees will appreciate your efforts to help them support the causes and organizations they care about, the community will notice and appreciate your participation as well. And that effect is even more powerful when the donations are connected in some way to what your business is all about.
