It’s no secret that entrepreneurs wear many hats in their day-to-day lives. They’re founders, marketing specialists, a research and development department, and administrative assistants all in one; they work ungodly hours for months — or even years — on end; and exhibit unwavering patience as they wait for their business to climb the ranks to success.
With that in mind, it may seem outlandish to expect entrepreneurs to juggle their business ventures with outside interests such as philanthropy. However, the benefits of incorporating philanthropy into one’s entrepreneurial venture greatly outweigh the costs.
Continue reading to discover the reasons why every entrepreneur should participate in philanthropy:
It puts a “why” behind what you do
By discovering your philanthropic purpose and incorporating it into your venture, you will not only add more depth to your business model, but gain an edge on your competitors as well. After all, this philanthropic affiliation gives you the ability to connect with — and pitch your ideas to — investors who hold similar values and interests, opening you up to making more long-standing business connections.
It teaches you to give without expecting anything in return
Although your contributions inevitably help others, participating in philanthropy — whether corporate or personal — will teach you countless invaluable lessons. The first, of course, is that you should be willing to help others even if it means you get nothing in return. This can be a difficult value to remember, especially while you’re constantly busy with negotiating deals, striking partnerships, and so on.
It pulls you out of your comfort zone
Along that same vein, taking part in philanthropy will take you out of your every day routine and open your eyes to issues you weren’t even aware of — especially in your own neighborhood or county. Additionally, getting involved with local non-profit organizations can act as an excellent networking opportunities, as it expands your social circle beyond your usual cohorts and clients.
It has proven health benefits
Volunteering and participating in philanthropy are known to result in side-effects aptly known as the “helper’s high” and “giver’s glow.” This is because participants are aware that their actions and/or donations are directly benefitting someone in desperate need. In addition to these side-effects, volunteers are also known to feel an improved sense of well-being, lower stress levels, better physical health, enhanced emotional health, and more.
Evidently, there are tangible benefits to participating in philanthropy, both on a personal and professional level. Although it may be difficult to juggle these responsibilities at once, especially if you have chosen to actively volunteer, your efforts will be well worth it in the long-run.