Posted by 2014-01-13
Title: Business Plans
I am wondering if it makes good business sense to include a way and means to give back to the community you launch your business in. I've always been big on giving back to those in need when at all possible. I am currently building this into my business plan so I guess I may have already answered my own question. Feedback would be great on what margins to consider.
Hi Jim - Yes, you kind of did answer your own question: if it's important to you then do it. I would think that the margins would be adjusted regularly depending on your overall business needs and commitments overall.
I agree with you on this. We are in this on the local level and beyond. That is what community is even if you are in business. There is always someone you can help on a small level or on a more official level. We all need help at some point in life. Paying that forward is an act of gratitude. All the best.
Giving back to the community is a way of connecting with your market in a very positive way. It shows Corporate Social Responsibility which is always an important part of any business venture.
Hi Jim, I have giving back into the community into my business plan too. That concept is something relatively new in business called "Corporate Sustainability" A good corporate sustainability plan will actually help to decrease costs or increase your revenue. I would be specific with your intentions in interacting with your community. It is always great to give feedback to people who are interested in your company about how your company is helping to make our region a better place to be!