Latest / The Confident Entrepreneur With Jennifer Ann Johnson / The Business of Giving Back
Transcript
- 0:40Jennifer Ann Johnson: Today, we're exploring a powerful strategy that can transform your business and your community, leveraging community engagement for business growth while simultaneously giving back.
- 0:51Jennifer Ann Johnson: We'll explore how this approach can boost your brand, expand your network, and drive growth, all while creating meaningful change in your community.
- 0:59Jennifer Ann Johnson: Whether you're a small business owner, a startup founder, or a leading, or you're leading a large corporation, this episode is going to show you how doing good can be good for your business.
- 1:09Jennifer Ann Johnson: Let's start by addressing a common misconception that business growth and community involvement are separate and perhaps even conflicting.
- 1:19Jennifer Ann Johnson: And in reality, when it's done right, these two objectives can support and amplify each other, creating a virtuous cycle of growth and positive impact.
- 1:30Jennifer Ann Johnson: Think about it this way: your business does business doesn't exist in a vacuum.
- 1:34Jennifer Ann Johnson: It's part of a community ecosystem.
- 1:36Jennifer Ann Johnson: And by actively engaging with and supporting that ecosystem, you're not just being altruistic.
- 1:44Jennifer Ann Johnson: You're also creating a more fertile environment for your business to thrive.
- 1:49Jennifer Ann Johnson: So, how exactly can community engagement and giving back drive business growth?
- 1:54Jennifer Ann Johnson: Well, I'm going to break it down into four key areas.
- 1:56Jennifer Ann Johnson: The first is brand building.
- 1:58Jennifer Ann Johnson: In today's socially conscious market, consumers increasingly prefer brands that align with their values.
- 2:05Jennifer Ann Johnson: We've talked about this many times.
- 2:07Jennifer Ann Johnson: By actively engaging with and supporting your community, you're building that brand image that resonates with consumers.
- 2:15Jennifer Ann Johnson: And it can lead to increased customer loyalty and that word-of-mouth marketing, which is what you are always searching.
- 2:22Jennifer Ann Johnson: Second is network expansion.
- 2:25Jennifer Ann Johnson: Community involvement puts you in contact with a wider range of people and organizations.
- 2:32Jennifer Ann Johnson: And that expanded network can lead to new partnerships and collaborations and opportunities.
- 2:39Jennifer Ann Johnson: Third is employee engagement.
- 2:41Jennifer Ann Johnson: Giving back to the community can really boost employee morale and engagement.
- 2:46Jennifer Ann Johnson: When employees feel proud of their community, their company's impact on the community, they're more likely to be productive.
- 2:53Jennifer Ann Johnson: They're more likely to be loyal and become brand ambassadors for your company.
- 2:58Jennifer Ann Johnson: And then finally, innovative opportunities.
- 3:01Jennifer Ann Johnson: Engaging with your community can expose you to new perspectives, like I said, new people, new opportunities, and also needs, which could potentially inspire new products and services, or maybe even new business models.
- 3:14Jennifer Ann Johnson: So, what can you do, or what are practical strategies for growing your business through community engagement and giving back?
- 3:23Jennifer Ann Johnson: Well, there's several things.
- 5:51Jennifer Ann Johnson: Number one is aligning with your core business.
- 5:54Jennifer Ann Johnson: The most effective community initiatives are those that really align with your business at its core.
- 6:00Jennifer Ann Johnson: I'm going to give you an example.
- 6:02Jennifer Ann Johnson: If you run a tutoring service, you may offer free classes to under students who can't afford to have a tutor.
- 6:09Jennifer Ann Johnson: It not only helps the community, but it also showcases your expertise and it has the potential to attract new clients.
- 6:17Jennifer Ann Johnson: Maybe partnering with a local nonprofit.
- 6:20Jennifer Ann Johnson: Collaborating with established nonprofits can amplify your impact and your visibility.
- 6:25Jennifer Ann Johnson: But again, choose organizations whose missions align with your values and your business focus.
- 6:32Jennifer Ann Johnson: And then engage employees.
- 6:34Jennifer Ann Johnson: Involve your team in choosing and implementing community initiatives.
- 6:38Jennifer Ann Johnson: It can boost your engagement and ensure that your efforts resonate with your workforce.
- 6:43Jennifer Ann Johnson: And then leverage your skills and resources.
- 6:46Jennifer Ann Johnson: Consider how unique business skills and resources could benefit the community.
- 6:51Jennifer Ann Johnson: A marketing agency, for example, may offer free workshops for local nonprofits.
- 6:56Jennifer Ann Johnson: Then create a give back program.
- 6:58Jennifer Ann Johnson: Integrate giving into your business model.
- 7:01Jennifer Ann Johnson: It could be a buy one, give one model, donating a certain percent of your profits to community cause.
- 7:07Jennifer Ann Johnson: We used to do that.
- 7:08Jennifer Ann Johnson: We did a monthly day of giving, is what we called it.
- 7:13Jennifer Ann Johnson: And now we just choose at the beginning of the year what organizations we're going to give to.
- 7:17Jennifer Ann Johnson: So we got away from the give back program, but we're still giving back because we've chosen to do it in a different way.
- 7:23Jennifer Ann Johnson: You could sponsor local events because that obviously increases your visibility in the community.
- 7:29Jennifer Ann Johnson: And share your impact.
- 7:31Jennifer Ann Johnson: Communicate your community efforts and their impact through your marketing channels.
- 7:35Jennifer Ann Johnson: It's not about bragging.
- 7:37Jennifer Ann Johnson: That's not what this is about, but it's about inspiring other people because they're seeing what your commitment is to your community and they may step up.
- 7:46Jennifer Ann Johnson: If they can do it, why can't I?
- 7:48Jennifer Ann Johnson: Is kind of what usually happens.
- 7:52Jennifer Ann Johnson: So let me share a few real or a real-world example of how this approach can work.
- 7:56Jennifer Ann Johnson: Consider the case of Tom's shoes.
- 7:59Jennifer Ann Johnson: The company started with a simple premise.
- 8:01Jennifer Ann Johnson: For every pair of shoes sold, they donate a pair to a child in need.
- 8:05Jennifer Ann Johnson: That one-for-one model resonated with a lot of consumers, which led to a lot of growth quickly and brand loyalty.
- 8:13Jennifer Ann Johnson: But Tom's didn't stop there.
- 8:15Jennifer Ann Johnson: They evolved their giving model to address a wider community need, including site, water, community development initiatives.
- 8:24Jennifer Ann Johnson: This ongoing commitment to giving back has been the cornerstone of their brand identity and a key driver of their success as a company.
- 8:32Jennifer Ann Johnson: Now, I know you might be thinking, well, that's great because that's a big company, but I'm a small business.
- 8:39Jennifer Ann Johnson: How can I possibly make an impact?
- 8:41Jennifer Ann Johnson: Well, the truth is that we don't need a global, global reach to really make a difference.
- 8:46Jennifer Ann Johnson: Local impact can be just as powerful.
- 8:49Jennifer Ann Johnson: And I'm going to give you another example of a coffee shop in Portland, Oregon.
- 8:52Jennifer Ann Johnson: They partnered with a local shelter to provide barista training for people going that were experiencing homelessness.
- 8:59Jennifer Ann Johnson: And this initiative not only helped community members gain valuable skills, but also solved the staffing challenge that they were having.
- 9:08Jennifer Ann Johnson: The program generated positive local press, increased customer loyalty, and even attracted new business-to-business clients who were really impressed with what they were doing.
- 9:18Jennifer Ann Johnson: And there's a place actually in Auburn, Alabama, that I have visited several times, and it's a coffee shop that allows children with disabilities or young adults with disabilities to work in their coffee shops.
- 9:31Jennifer Ann Johnson: And that is all they have working there.
- 9:32Jennifer Ann Johnson: They have a manager, and then they have other individuals who are working who are working there who have disabilities.
- 9:39Jennifer Ann Johnson: And you've got to see the smile on their faces when they're working.
- 9:45Jennifer Ann Johnson: It's a really cool thing to see.
- 9:47Jennifer Ann Johnson: The key here is to really start where you are with what you have.
- 9:51Jennifer Ann Johnson: Even small actions can create ripples of positive change in your community and in your business.
- 9:57Jennifer Ann Johnson: So as we wrap up, community involvement and business growth can be mutually reinforcing goals.
- 10:02Jennifer Ann Johnson: This approach can boost your brand, expand your network, engage employees, and really drive innovation.
- 10:08Jennifer Ann Johnson: Effective strategies include aligning with your core business values, partnering with nonprofits, engaging employees, and integrating giving as into your business as a model.
- 10:19Jennifer Ann Johnson: Remember to communicate your impact authentically, to inspire, not brag, because it reinforces your brand values.
- 10:27Jennifer Ann Johnson: So I challenge you to take action today.
- 10:30Jennifer Ann Johnson: Look at your business and your community.
- 10:32Jennifer Ann Johnson: Where do you see opportunities to create value for both?
- 10:35Jennifer Ann Johnson: Start small if you need to, but start somewhere.
- 10:39Jennifer Ann Johnson: Your next big business breakthrough might just be from giving back.