Why Giving is Good Business

Why Giving is Good Business

This is a Guest Post by Ricky Padilla of Brown Water Coffee

Many of we entrepreneurs long to do good and make a difference in the world, and we often promise that when we’ve “made it,” then we can and will give back. But what happens if we don’t “make it” or, more likely, we get distracted? I believe that it is never too soon to give. In fact, it could be a mistake to wait.

Brown Water Coffee has allowed me to give to one of the greatest causes in the world (bringing safe drinking water to thirsty communities) while making a living and building an excellent coffee brand. Every time we sell a bag of coffee, we give $2.00 to fund clean water projects. Here is not only how we do it, but how your business can actually do better because of giving (Side note: this can apply to life in general, not just business).

Product Differentiation

There is little that separates most products these days, so value-driven customers are always looking for that extra factor that makes your product more valuable than someone else’s. Given the opportunity, people want to give and if your product is of good quality, reasonably priced, and has a giving aspect on top, guess which one most will choose…

Lower Costs 

This might be a big surprise to you, but if you do things well, giving a large chunk of your revenue away can dramatically lower costs. How? When we approach vendors, printers, etc., we take the time to tell our story give them the opportunity (it must be presented this way) to be a part of our mission. After our introduction, they understand that when we have lower costs, we can give more away, and they often offer us a great deal before we even ask!

Laser Focus and Determination 

Those whose greatest life/business question is “What can I take from the world?” are never quite as joyful or determined as those whose question is “What can I give to the world?” When I encounter obstacles and my primary focus is on making money, I get discouraged and the temptation of giving up is more prominent. But when I am laser-focused on giving and our mission, I can get over about any obstacle because I realize I am working for something much greater than myself.

In short, if you choose to give now and always, you will not regret it and will likely be surprised at the affects it has on you, your business, and your team. In the spirit of Thanksgiving holidays, let us remember, “Giving is better than receiving.”