How Your Small Biz Benefits from a “Pay it Forward” Philosophy
Small businesses have certainly made a name for themselves in the last decade or so, even earning the distinction of a recognized day dedicated to supporting small businesses. Of course, we would hope that consumers support small businesses all the time, and not just on “Small Business Saturday”, but sometimes convenience and cost make that difficult to accomplish.
Consumers have become more conscious of their purchasing power over the years, and we love that. However, people are busy, schedules are hectic, and finances are tight. As a result, consumers will often choose to spend their money based on geography, price, or time, and you can’t really blame them for that.
The ongoing battle between small and large businesses will never dissipate, but that doesn’t mean the two can’t share some similar strategies. Originally, a lot of large companies were required to adopt a philanthropy for social and financial reasons. Over time, large businesses starting doing this by choice in order to establish a sense of charitable contribution.
Participating in philanthropic events, and supporting local and national charities, has proven to be a very successful business strategy. That’s why the little guys can and should take advantage of this opportunity as well. The benefit of being a small business and hosting a charity event or even partnering with a non-profit organization is that there are fewer restrictions. There are no corporate regulations to follow and no board to tell you what you can and cannot do.
Investing in a charity event has the potential to reap huge rewards, and it’s really not that complicated to carry out. Consider the suggestions below to help your small business pay it forward, while still getting something in return:
- 1. Power of the People – As a small business, hiring an event planner is not only a waste of money, but it’s also not necessary. Utilize the skills and talent within the company. If possible, form small committees so that the various jobs can be delegated accordingly. The added bonus of using in-house help is that it improves morale and promotes a positive work environment.
- 2. Choose a Charity – If you already have a charity in mind then by all means run with it. If you have no idea how to disperse your charitable contributions then take the time to research and pick one that you will be passionate about. Small businesses can really benefit from local charities as opposed to national philanthropies.
- 3. Supply with Sponsors – Sponsorships are an essential part of any charitable event. This is also your opportunity to network in the community. It’s almost like free advertising with a good cause as the driving force.
- Picking and Planning – There are so many options for charity events. Golf tournaments are a popular choice, but that kind of limits the demographic of the attendees. Hosting a luncheon or dinner fundraiser provides a more formal environment, but will require catering and linen rental service. A silent auction compliments this kind of event, but that means you have to come up with a decent list of items. A family-friendly event allows for a much more casual setting. Depending on the time of year, you can host a Halloween costume party, a Saturday carnival, or even a talent show. No matter what kind of charity event you decide to host, make sure you utilize the power of promotion.
This guest post was written by Kaity Nakagoshi, the Online Community Director for a linen rental company in Tampa, Florida. Kaity graduated from the University of South Florida with degrees in Management and Political Science, but somehow ended up in the online marketing field instead. She enjoys writing, golf, hot yoga, and candy.