Succeeding In Business With A Strong Social Agenda: How Is It Done?

Damond John, entrepreneur extraordinaire of Shark Tank fame once advised a contestant on the show who wanted to make a difference socially to “Make it, master it, then matter.” What he means by this is that despite having a good moral compass, a business can’t really save the world until it has a solid footing in its own right. Still, as a growing business, you want to incorporate your social agenda into the daily activity of your company. Trust Damond, though, because you have to get this part of your business right, or you risk losing everything.

Your Plan For Development

Building a business requires time and critical thought; You may even want to experience and learn how business is done internationally, where you can go study abroad to learn about that,  no company can survive on social sentiment alone. Despite wanting to help others, build your plan around a solid business model first: Create a five year plan detailing how you’re going to foster growth, how profits will be directed to facilitate your future and who is going to help you along the way. A five year plan will not only help you navigate your way in business, it can also help qualify you for funding from banks or investors. While you want to include your vision of having a strong charitable and social influence on the world, let a good business sense guide you to success, leaving the helping others as a footnote for now.

Finding Tax Breaks For Your Social Devotion

Socially driven projects your business intends to develop can yield your business significant tax deductions, however, planning is key. Know ahead of time how your company can benefit, thus paving the way for a project that not only helps others, but that isn’t a hindrance to your long-term success. While any helpful project might feed the homeless or help women in abuse shelters, if it’s ultimately a liability for your business, your long-term vision could fail, along with your business model.

Cost Cutting With Crowdsourcing And Outsourcing

Building any business is going to cost money, but there are very inventive and productive ways to cut costs. Using crowdsourcing is far less expensive than hiring full-time employees, as is outsourcing. There are a lot of companies whom you can outsource almost all of administrative tasks, you may want to check this website: to see if they can help you. An added bonus to leveraging the crowd, though, is the word-of-mouth advertising you automatically get for your social agenda. For example, if you’ve crowdsourced a business project that involves your social aid program, the large number of people working on it are naturally going to talk about it. This benefit is a by-product of your cost-cutting efforts, so be sure and take full advantage of all the sources your business deals with. If you hired a temporary virtual assistant, you wouldn’t want them to simply complete tasks for you, you’d want to let them know (and therefore, spread the word themselves) of all the good things your company is up to, too. You can cut costs and advertise simultaneously, given the very nature of how you conduct business in the information age and socially-driven world.

Saving The World With A Long-Term Business Strategy

Making money and helping others can go hand-in-hand, if you prioritize the business aspects of your operations. Your social efforts could also increase profits, as word grows of your company’s existence and agenda. Most people would rather patronize a business that does something good in the world, than one that is run on profiteering alone. Don’t allow your charitable efforts to be an afterthought, though: Incorporate the ideology right into your business plan, harvest the tax incentives and foster your growth through a chain of well thought out and highly orchestrated events.

If anyone knows how to succeed in business, it’s Damond John, but even he recommends building a solid source of income and a strong business platform from which to launch a healthy social agenda. Your business can’t pay its bills with good intentions or well-placed sentiment, but once you can sustain yourself, there’s no limit to what you can achieve socially.

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