Avionics News August 2016 - 54

series

BUSINESS BASICS
B Y

G R E G

L A S L O

Doing good

Donating to philanthropic causes to boost your business

E

very day you go to work, you have the
opportunity to make a difference. You can aim
to improve your avionics shop to serve your
customers better, tune your leadership to inspire your
staff more effectively, and manage your business to hone
your bottom line.
You could also aspire to make your little corner of the
world a better place.
If you've been around the block a few times, you know
each of these is a task unto itself. But you probably also
understand they're not mutually exclusive. In fact, all
have a lot to do with trying to do good with your business
- and all have much to do with charitable giving.
At the end of the month, that might sound like a crazy
idea. Likely, you're not rolling in the dough that would
allow you to play in the big-donation leagues of large
corporations around the country. But consider that you
don't have to. Small businesses - which employ more
than half of all American workers - also play an outsized role in local charitable causes that create long-term
positive results, according to donor-relations software
company FrontStream.
Charitable giving inspires not only your customers, but
also your employees. This can lead to both profitability
and productivity gains for your shop. Indeed, with a
strategic giving plan, you can differentiate your brand,
network in your community, humanize your company
brand, and build relationships with your staff as you
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2016

show you stand by your values, according to smallbusiness advisor Marla Tabaka.
All it takes is recognizing what your shop can bring to
a favorite cause - whether it's money, in-kind donations
or volunteer effort - so you can see what you can do
with the assets you have on hand. It begins when you
understand who gives and why, how philanthropy
actually benefits your business, and how to put a giving
plan to work. And it ends when you see that doing good
does good things for your business after all.
Donor class
As it turns out, many small businesses are generous,
yet they donate in ways different from "wealthy"
philanthropists - both in dollar amounts and the types of
organizations they choose. For the most part, they do so
because it's a good thing to do.
According to a study in late 2015 by small-business
social-network company Alignable, small-business
owners donated more last year than in years prior; in
fact, about 50 percent of those who did said they had
increased their giving (the rest said they donated about
the same). As the economy warmed, that's not surprising.
But this is: 95 percent of small-business owners plan to
make some sort of annual donations to charity - and 81
percent said they'd do so with cash, 75 percent would
give with goods or services, and 67 percent plan to give
personal time.



Table of Contents for the Digital Edition of Avionics News August 2016

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Avionics News August 2016 - Intro
Avionics News August 2016 - Cover1
Avionics News August 2016 - Cover2
Avionics News August 2016 - No label
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Avionics News August 2016 - Cover3
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