How Giving Back Plays a Role in Your Prosperity
Q: Dear Ruchi, I am finally at a place in my small business journey where I am breaking out of my scarcity mindset. There is so much going on in the world and at times I feel helpless. What makes me feel most impactful is making donations to funds, charities, etc. that help causes I am passionate about. I feel better when I do this but want to make sure I am being smart about how I donate, especially when doing so under the identity of my business. Can you help?
A: I am so glad that giving back is already on your radar! Giving can have a profound impact not only on your business but on your own well-being and the world around you. When you engage in acts of generosity, it can be incredibly rewarding on many levels. It often brings a sense of fulfillment and happiness, knowing that you're making a positive difference in the lives of others.
The concept that giving is connected to receiving is not just a feel-good sentiment; it's backed by facts and real-life experiences! Plus, it can even be a strategy for your business goals. Keep reading for a few reasons why.
Trust and Reputation
When your business supports a cause or community, it earns trust and a stellar reputation. Happy customers and stronger brand recognition can help you work toward overall prosperity in your business while doing something kind for others.
Good Morale
A business that gives back makes for happier employees. A joyful team is a productive one, contributing to your business's growth. At Watch Her Prosper we do this through our partnership with the B1G1 Global Giving Initiative. Through this, we’re able to serve people in need all over the world with a focus on financial empowerment.
Building Connections
Acts of kindness connect you with like-minded people and businesses, opening doors to exciting partnerships and opportunities. We all know that the importance of connecting with others is so important in both personal life and business. We’re all human!
Tax Benefits
Don't forget about tax incentives! Donations can be potential write-offs, check with your trusted CPA on this and to determine if you should donate through your personal or business account (this is dependent on your legal structure). Be sure to keep your receipts!
The Ripple Effect
Don’t underestimate the contagious effects of giving. Your generosity can inspire others, creating a wave of positivity that benefits both your community and your business. Sometimes leading by example is an effective strategy to spread goodness in the world!
Personal Joy
When you give, you move into a beautiful cycle of energetic reciprocity. You are allowing the other side to receive and you, in turn, are receiving the love and joy of giving!
Here’s to your prosperity!
-Ruchi