How Philanthropy and Entrepreneurs Are Changing The World

by

04 January 2020

Business

Philanthropy and Entrepreneurs

If you have been following the news and are tuned to social media, you might have come across billionaires pledging sizable fortunes to charity. Bill Gates, Warren Buffett, and others have pledged to donate more than half their wealth to improving the condition of the less fortunate in society. You will know about how Philanthropy and Entrepreneurs are changing the world in this article.

Entrepreneurship is not only about working hard and earning millions, but it is also about feeling good about doing something valuable. Yes, you might get satisfaction from buying supercars and private yachts. However, beyond a point, all those things fail to excite you.

In this article, we will look at what entrepreneurs are doing to change their society, one step at a time. We will also discuss some lesser-known entrepreneurs who are silently engaging in meaningful philanthropy.

Entrepreneurship and Philanthropy: Relationship

The trend of entrepreneurs giving back to society is not a new phenomenon. America’s old billionaires like Rockefeller and Carnegie were famous for donating huge fortunes to uplift the deprived sections of society.

Owning and distributing is one of the key tenets of philanthropy. Entrepreneurs know that they have benefitted greatly from the society that has allowed them to succeed. They also realize that giving back to society has a spiritual and otherworldly connotation to existence.

You might see some of the top CEOs and Founders talk about meditating early morning and believing in things like ‘Karma’. In simplistic terms, it might be about feeling good about yourself. It can also be about not feeling guilty about enjoying some of the best things that money can buy.

Most of the entrepreneurs are not from lineage. They are first-generation success stories. They have seen their parents struggle when it comes to food, health, education, and other middle-class challenges. Their sense of social responsibility to philanthropy stems from their humble background and origin stories.

According to Forbes, philanthropy is about solving social problems that can help establish large enterprises. It needs disruptive ideation, innovative insights and a real zeal to engineer change. Entrepreneurs are famous for exhibiting the just-mentioned qualities.

Entrepreneurs making a real difference to Philanthropy:

Entrepreneurs

While news stories about Philanthropy and Entrepreneurs doing the rounds usually concern themselves with big billionaires, many others are doing just as much. In recent years, entrepreneurs like Matt Redhawk are trying to benefit society in multiple ways.

Matt Redhawk dons many hats. He is a writer, entrepreneur, producer, writer, and mentor. He is also a philanthropist who likes staying away from all the publicity. His publication, ‘Drought and Dreams: Stories of Resilience During America’s Darkest Time’ provides fascinating insights about American families and their struggles during periods like depression.

However, the best thing about people like Matt Redhawk is the way they are inspiring similar entrepreneurs to follow a similar path.

Conclusion

Entrepreneurship and philanthropy should be considered as a journey, rather than a destination. Rather than considering it as a goal in itself, people should think of it as a continuous process. With so much strive, struggle and destitution, everyone should definitely do their bit in alleviating the situation in their immediate society.

In this article, we looked at the intricate and varied relationships between Philanthropy and Entrepreneurs. We also looked at how entrepreneurs like Matt Redhawk are trying to change the world, one small step at a time.

If you know of similar entrepreneurs, pleas mention them in the comments section below, You can also email this article to your entrepreneur friends to inspire them to take up the path of giving.

Read Also:

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

View all posts

Leave a Reply

Your email address will not be published. Required fields are marked *

Related

employee perks

5 ways employee perks can dramatically enhance your personal life

According to this research from Clutch, 53% of workers who experience employee perks say the perks give them a better quality of life and an improved relationship with their employer. Such additional benefits can help enhance your job satisfaction as well as your personal life. Here are a few of the most popular employee perks and what they can do for you Financial Well-being Companies want the best people working for them, but with a competitive job market, attracting the best isn’t always about the paycheque. Platforms such as LifeWorks offer financial perks and savings for employees on all kinds of events, from cinema tickets to holidays or even buying a house. Financial security is a worry for a lot of workers, and so being able to save money here and there will significantly help to reduce that stress and allow you to save your pennies for a rainy day. Gym Membership Gym memberships are a popular employee perk. Sitting at a desk for too long can bring a host of negative long-term health issues, so it’s important to be exercising as often as possible. Accessibility to a work gym membership or exercise classes allows you to be active whenever you wish, rather than feeling as though you have to go consistently to make it worth your money. Regular exercise will significantly enhance all aspects of your life, improving your health and wellbeing as well as boosting your productivity and attitude towards work. Flexible Working Hours Flexibility is becoming quite a sought-after employee perk for the modern worker. Trying to balance personal and professional responsibilities can be overwhelming, so having the option to work from home where necessary allows you to keep these responsibilities under control. The offer of a flexible schedule will further demonstrate trust from your employer, creating a sense of value and respect that a salary never could, and ultimately enhancing your quality of life. Employee Appreciation Gifts In recent years, there has been growing literature which supports that business organizations that offer appreciation gifts for employees see a rise in retention rates as well as productivity. You can reward your employees by gifting them different items that can be useful for them both in terms of their work, as well as in their personal lives. These can include food items, COVID-19 care packages, gadgets as well as gift cards for online and in-store purchases. This will show that as a business you care about all the hard work that your employees are putting into the business. Performance Bonuses As an employee, you’re more likely to stay in a job where you feel you are trusted and provided with a sense of ownership over your work. Taking ownership over a task and subsequently being rewarded for its outcome is a real morale booster. Receiving a monetary reward for your success doesn’t only help you out financially, but it also creates a feeling of pride - it is something that you have earned and deserve. This helps the employer too, producing engaged employees who are excited and motivated to work for their business. Office Perks Offices can often be pretty drab and dreary environments, and so having perks that create a happy workplace makes space feel more fun and allows you to relieve the stress of the day. Some of the most common office-based perks include a relaxed dress code, games, and free drinks and snacks. A more casual environment will help maintain relationships among colleagues, boost productivity and make the working day more fun - all things that will subsequently have a positive impact on your personal life. Read Also: Why In-Company Training Results in Better Employees Things to Consider When Sourcing Employees for Manufacturing Plants 7 Best Employee Recognition Awards Ideas For 2021 3 Steps to Hire the Perfect Employee

READ MOREDetails
Online Business

How To Make Your Online Business More Humble By Managing Your Reputation?

You heard it here first! Online businesses must manage their reputation so that people are less likely to suspect and attack them. The more you manage your online reputation, the happier everyone will be about recommending your business to others. There are many ways to do this, including creating a website, blogs, social media posts, etc. Here is how: A high-quality online presence is an essential part of being a successful online business owner. Having a good online presence is important because people will only go after reliable and credible sources for tips and advice on a project or product. It also serves as one of your main marketing channels, making it even more important to manage your reputation well. Here Are A Few Ways You Can Improve Your Online Business Presence: 1. Create A Blog Blogging allows you to share your products or services with the world. Blogging can last for a couple of hours or even weeks, depending on your niche and audience. Blogs can be visual, written, and even have sound effects, videos, and images to support the information. You can even create an entirely text-driven blog to give your posts a more specific focus. Blogging can either be your primary source of income or your only source. You’ll want to post your products or services on your blog in many cases. Besides that, blogging can also be a great way to get your foot in the door to growing your business. When you have a blog, it’s easy to create interesting and helpful content for your customers. You can easily link to and reference your blog from your website content. Related Resource: A Complete Online Guide to Boosting Your Website Traffic in 2020 2. Create An Engaging Social Media Presence Whether you’re on Instagram, Pinterest, LinkedIn, or other platforms, interacting with your audience is essential to success. It allows you to interact with them in a personal and interesting way. And if you’re a fitness or beauty products startup, you can create an engaging social media presence to distinguish yourself from your competitors. The greatest way to get your foot in the door into engaging and growing your social media presence is to create a blog. Blogging can be visual, written, and even have sound effects, videos, and images to support the information. You can even create an entirely text-driven blog to give your posts a more specific focus. You can also create a series of shorter posts that are more focused and easily recognizable as your brand. This can help you create a more consistent and trusted brand. Apart from that, you can also start using social media marketing tools to make creating content and attracting followers simpler, regardless of where you are in life. All you need to do is create a series of posts related to your niche and target audience. This can help you create a more consistent and trusted brand. Related Resource: Why A Business Should Use Facebook Remarketing 3. Grow Your Business Presence You can also improve your online reputation and increase sales by growing your business presence. This is especially true if your business is located in an unpredictable location. For example, if you’re from India and your products or services are sold to customers in China, you can’t just open an office and ship those products somewhere else. You’ll need a new warehouse, warehouse maps, a new distribution plan, and a new way of marketing. Instead, it would be best to create a strategy for growing your business. This can be done by dreaming up new business strategies and designing a business plan. This will help you plan out the whole thing in a better way. You can also start taking pre-sales customer feedback, which is extremely important if you want to grow your business. In this case, you’ll have a much better chance of getting your customers to order and pay their money back. 4. Communicate With Your Customers By Writing And Selling Consumer Or Product Tips And Tricks Apart from sharing great content, you can also take the extra step of selling consumer or product tips and tricks. It’s an excellent way to get your foot in the door to growing your customer base. You can create product downloads and gift products, sell online courses or offer gift certificates. This can help you to build your brand even more. Apart from all these, you can also create informative blog posts regularly, which can be read and shared by your customers. 5. Maintain Good Credit Rating Another way to make your online presence more credible is to maintain a good credit rating. You can fix your account history and credit score, make payment history public, and require photo identification. You can also consider security and privacy concerns when creating a business account, renting a laptop, or sharing sensitive information such as your address or photo. Make sure that you consider security and privacy concerns when making a business purchase or creating a product. This way, you will avoid any problems or issues that may arise. 6. Be Transparent With Your Financial Data As an online business owner, you need to be transparent with your financial data. This includes your income, expenses, net Worth, and investments. It’s important to have accurate financial data to make informed decisions. You can achieve this by maintaining a public financial database and posting your financial transactions on a website or a blog. This way, the public can see what you’re earning, how much you paid for products, and how much you spent. Another great way to make your financial data more transparent is an online banking plan. This will make it easier for you to keep track of your financial accounts and payments. Conclusion Online businesses are entering a new phase with the rise of Internet-based media. New media such as social media, websites, and blogs are created just for this new market. This poses new challenges for online businesses, including maintaining a high online presence. The good news is that any company that wants to remain competitive in this competitive landscape should be able to keep an increased online presence. It’s crucial to ensure that your online presence is high-quality, consistent, and reliable. This will help you to build a long-term brand and increase sales. Read Also: Things You Need To Know About Online Statistics Studies What To Think About When Making A Name For Your Business How You Can Grow Your Small Business By Taking Help From Crypto

READ MOREDetails
Selling Your Business

Crucial Aspects To Bear In Mind When Selling Your Business

Nobody likes to give up their hard-earned business at once. Sadly, unforeseen situations often compel us to give away our treasured organization. Now, the matter is which factors compels you to sell your business.  If the profitability of your business falls drastically.  The second important reason is if your experienced buyers show red flags.  The third and most important reason is perfect competition in the market.  As we know the reasons for selling a business, it is important to know certain steps to help you get its right value after selling. The first step is to know the valuation of your business as per the current market rate. The second step is due diligence as well as financial trends.  Knowing The Worth Of Your Business: What It Takes? Several factors help you know the real worth of your business. It's not something Google or Wikipedia will tell you. Check out some of the key factors that you should consider while bringing out the best worth of your business:-    1. Book Value Of Your Business  Take your total assets and subtract it from your total liabilities. It is one of the most straightforward approaches you can adopt to trace the correct valuation of your business. You can get the data of your business valuation directly from your accounting / record-keeping books.  However, it works like a summary of your business valuation. The only limitation of this process is that you cannot get any future data on your revenue and earnings. It will give you a fair idea of the current valuation of your business as per the current market scenario.  2. Make Cash Value Analysis  If you understand your cash flow analysis correctly, you will consider the current and future potential earnings. Furthermore, it is also possible to measure the valuation of your business for a specific period. Additionally, selling your business is not difficult if you follow the correct process. Now, if you do not have clarity regarding the terminologies of cash flow analysis, seek the help of online accounting software. There's a higher probability of using a financial planner that can assist you in accurately preparing this business valuation.  3. Consider Using a Revenue Multiplier  This is less sophisticated but still an effective tool for quickly determining a company's potential value. The winning secret? It multiplies your company's current sales with multiple scores. Let's get this concept clear with the help of an example.  A company with a value of $200K annual sales with a multiple of 5 will be worth 1 million. So, the more an investor becomes confident about the ROI, the more valuable your company will be.  The multiple that you will use will depend on several factors such as:-  Competition in your industry.  Market potential.  Timing of your business. The power of your management team.  4. Earning Multiplier  The price-earning ratio is one of the best formulas to understand your business's valuation. Here, the Price Per Share method is widely leveraged. First,  divide the current market trading price by earnings per Share.  After this calculation, there's a tentative understanding of the net profit earned by the company. The rule here is if you get higher EPS, your company has a higher valuation. Ultimately, the company's current share price will highlight your company's position in the stock market compared to your competitors.  5. The Tax Implications Assessing the tax implications of selling a business is also a crucial stage. The structure of your business will help you determine its valuation. It will determine the tax responsibilities you will face after concluding the sale.  Your business's overall tax liability will be determined based on the nature of the business assets and the method of sales you want to employ. Additionally, you can seek the help of a proficient tax consultant to get the correct value for your business taxes. Steps For Preparing Your Business For Sale You need to follow some simple steps to prepare your business for sale. Some of the crucial steps that you must consider here are as follows:-  Determine your objectives and goals for your sale.  Identify where your business stands today in comparison to other companies.  To get the correct value of your business from the buyer, you must compare your financial goals.  Identify whether there exists any mismatch between the valuation and the goals of your business.  Collect all your diligence material.  Identify who all are your potential bidders.  Optimizing your business for sale not only aids in attracting qualified buyers but also positions you to achieve a higher sale price by presenting your business as a well-organized, profitable entity with transparent operations and a solid financial footing. Identifying The Right Buyer For Your Business There are some of the simple steps that you need to employ to find the right buyer for your business. Some of the key factors that you must take care of here are as follows:  1. Determine The Profile Of Your Buyer  Before you search for your potential buyer, it is important to understand the ideal buyer profile. It includes several factors, like financial resources, management style, and industry experience. These are some of the crucial factors that you must consider before selecting your business buyer.  Your business buyer needs to understand the real value of your business both in monetary terms and reputation-wise. This will make things easier for you.  2. Conduct Market Research To Find Potential Buyers  You need to conduct market research to identify your potential buyers. Here, you have to compare the rates different buyers offer you. Select the best bid that suits your business valuation.  Some businesses employ mergers and acquisition techniques to get the best buyers for their organization. It includes the private equity groups that help you select the best buyer for your company. Private equity groups are categorized as industry and subsectors.  3. Consider The Budget Of Your Buyer  Different buyers have different budget limitations with them. Now, you must calculate the valuation of your company first. After that, you can review your buyer's budget. The budget that matches your business valuation will be your buyer.  Therefore, you must understand your buyer's budget constraints to select the right buyer for your business. Sometimes, businesses opt for an auction process to make the sale for their business.  4. Evaluate The Bids From Interested Buyers  Once you have evaluated the potential buyers or attracted the potential buyers, It is essential to evaluate each bid and negotiate the terms of the sale. The business selling process is a lengthy method.  It takes a complete evaluation of the process to get the right value for your business within a particular time. Here, proper planning of the bids matters a lot. Thus, you must be careful and select the best bid.  This is why finding the right buyer for your business ensures a smooth handover and contributes to the business's long-term success and growth under new stewardship. Final Take Away  Hence, if you want to sell your business, then the correct valuation and the right selection of buyers are important. Selling your business is a heartbreaking process.  If you can control your emotions and fix the right valuation of your business, then you can get the right value.  You can use the money to set up another business, which could be a better option. Now, you can share your opinions and comments with us in our comment box. This will help us to know your take on this matter. Additional Reading: How To Sell A Small Business Without A Broker? Tax Implications For Independent Event Planners Choosing The Right Business Insurance Agent In Illinois

READ MOREDetails