Entrepreneurial goals and targets are a necessity to attain. Hence, looking at the magnitude of business and stakeholders associated with it. The number of people associated with a business is highly dependent on the business growth every year. While all this is true, nobody can deny the fact that how philanthropy is so much linked up with entrepreneurial goals. This has a lot to do with the sustainable developments involved in a business and CSR, i.e. Corporate Social Responsibility elements required.
We all are well aware of the famous saying, ‘Charity begins at home’. This is something not to do with charity, but with the fact that everything starts from you. Similarly, in a quest to earn and learn and make money from money. Obviously, it’s important indeed to serve the people and society via philanthropy. An act of goodness and kindness that highlights your goals more clearly. In addition to this, your agendas intellectually in the eyes of people.
One of the richest people in the world, i.e. the most successful businessmen are all philanthropists and people who run charities for many sustainable reasons. To name a few, Bill Gates, the owner of Microsoft & Warren Buffett, CEO of Berkshire Hathaway. These two are apart from many others who have made a quick and sustainable name in the industry. Mainly, just because of their business goals. Engaging in activities related to Philanthropy and humanitarianism is indeed an act that helps the society prosper. On top of this, survive in times of financial crisis. It shows the amount of intensity associated with business man & entrepreneurs to help others with a humanitarian cause. We are not just talking about common people. But, the entrepreneurs and wealthy business owners as well. One of the most important & reliable members of the society, i.e. the business class.
BUSINESS IS NOT ONLY ABOUT MAKING MONEY:
It’s not just only about making money and dealing in massive profits. But, also being a thinker out of the box. Making a goodwill or a good name in the society is always a profitable scenario. A goodwill is something intangible, can never be seen. However, in business terms it’s an image, and in branding it is known as a ‘Brand Image’. An individual identity or a name that counts & holds many key significance.
As part of the CSR or Corporate Social Responsibility goals, it is your right to invest or make key investments when it matters the most. Yes, we are talking about key sustainable decisions taken at the right time. Hence, while reaching the sustainable agendas at the same time. For entrepreneurs the philanthropy shows the good side of the business man and his ideas to help people while he makes a big empire. What more can he do for the society and the degree or extent to which an entrepreneur can achieve both his entrepreneurial as well as CSR agendas. Philanthropy gives an entrepreneur satisfaction and a collective thinking for goals attainment.
How philanthropy helps apart from business goals is as follows;
GIVING WITHOUT EXPECTATIONS:
Entrepreneurs are rich and brilliant people and they are bound to do things without expectations. The potential to give without any expectations also shows the strength of the business and how sustainable it is. It also creates a positive mindset and being consistent in giving always proves good for the name. The positive outcome shows in personal and professional life of an entrepreneur. Thus, the goodwill created is always a bonus not only for business goals of an entrepreneur. Hence, also for the sake of the name he creates in the market.
HELPS IN CREATING A NETWORK:
Networking is always the way forward for business people as it trains the mind of an entrepreneur to work with many people of different kind. The network or community always helps as creating a network means you are a practical entrepreneur. Someone, always looking for links that matters. Thus, philanthropy is something that really helps people create a network of friends, Co-workers and stakeholders. These are people that can be really helpful for future reliance.
ENHANCES YOUR PROBLEM SOLVING SKILLS:
As an entrepreneur, you have a defined agenda set in mind and you know well how to make use of your problem solving skills. Philanthropy enhances these skills of problem solving whether they are your problems. Alternatively, issues linked with you indirectly, but someone else’s problem. They can also be your employees’ problems that needs to be addressed, while you have a decent know-how of the employee retention strategies.
SOME LESSONS ARE NOT FOUND IN TEXT BOOKS:
There are some key lessons of practical life and business that are not found in text books. Being a philanthropist is one of them, as it makes you more empathetic. Further, it expands your thinking. At the same time widens your perspective as these are skills that really widens your vision and scope. As an entrepreneur, it develops in you more skills to invest and not expect profitability.
Ironically, as an entrepreneur you have to be aware of profits as well as losses at the same time. While, having a knowledge that anything can happen. Philanthropy makes you expect less and be more practical as a business man as something that has to go will definitely go.