Even if your business is new, you can follow these 3 steps to successfully collaborate with a charity for the benefit of your business and the non-profit. Here’s how…
3 Steps To Successfully Collaborating With A Charity For The Benefit Of Your Business And The Non-Profit
You’re in the early stages of your business, and you are conscious of every single penny. So, what if someone told you that actually, donating to charity organizations as a small business, is actually great for business? Would you be able to squeeze some loose change from somewhere?
When companies give, both parties benefit from it, making it an ideal partnership. In 2010 Cone Communications found that 85% of consumers have a more positive image of a company when they are supporting a cause, and a whopping 90% of consumers want to know how you’re supporting a charity.
Here’s an idea that can provide ROI for the long-term: Incorporate charitable giving into your business plan. Work with someone on the non-profit’s board to develop and nurture the collaborative relationship.
Let’s look at how you can start making a social impact by working with a charity to grow your business…
Small businesses are also usually local businesses. Regardless of how busy you are online, the roots of what you do are there.
While you might want to give to a substantial global charity, and that is perfectly fine, have a look at making a local impact. The chances are your local organizations struggle to raise donations than the more “big brand organizations.”
Consider a percentage of proceeds go to the charitable organization, or host a targeted cross promotion and co-brand marketing materials.
Research Is Vital
Before you decide which charity to commit your business to, do some research. There are approximately 1.6 million charities in the USA, and not all of them have favorable charity ratings.
You also need to find a non-profit organization open to working with your business. For example, if you have chosen a non-profit that has a division for animals, but you are trying to sell leather bags, it might not be the best of partnerships.
Look for charities that work with companies like globalfacesdirect.com. By referring to this type of website, you will know they are looking for long-term donors and are serious about what they do.
You should also check the following:
- Mission statement, past success, current climate, forthcoming projects
- Has adequate funding (and where it is coming from)
- You can check the board members and their qualifications
- You can meet with them and talk about your ideas
- You’ve checked the charities status on the IRS website
- Research online for positive and negative media
- Look at more than one company, even when you think you’ve narrowed it down
And any other specification important to your business culture.
Don’t Do A One-Off
While you might be tempted to make a single donation and call it a day, that is not the most optimal scenario for you or the charity.
If you check that the charity is registered with IRS, you can make use of the tax deductions. Once you have worked out what your business can afford each month or each quarter, prioritize making those funds available. It is an excellent exercise in budgeting and commitment.
Being affiliated with a charity that is doing good in the world, will give consumers a positive opinion of your company (and by extension you), and the collaborative relationships are quite beneficial.