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Giving back to the community or giving your product away for a good cause can be a blessing in disguise for your business. It may not mean immediate profit, but it’s sure to have a positive impact on others and get your company noticed.
After the Virginia Tech tragedy, we decided to offer our voice and text messaging service to universities for free as a way to communicate emergency notifications to students. Our intent with offering the service free of charge was not to see what we could get out of it, but to do what we could to help others.
We have since received hundreds of inquiries about the offer, media attention, and even other for-profit business opportunities. People recognize companies that are not just out to make a buck, but care about doing the right thing, and they are more inclined to do business with them.
Sometimes doing the right thing for others turns out to be the right thing for your business, too.
Want to improve the way you run your business? Entrepreneurs, academics, and consultants from diverse industries offer practical advice on a variety of topics each business day.
To submit a tip for consideration, first check our archive of previous tips to make sure you're not repeating a tip someone has already contributed. Then send the tip to Small Business channel contributor Michelle Dammon Loyalka. Because of the volume of material she receives, she may not respond to each individual.