the business of benevolence
How we use money in our business has a significant and direct ripple effect in our personal lives and our society. One thing that life has taught me is that generosity must start at home - with me.
Paying in business
One of the mistakes that small businesses and start-ups make is not paying themselves. At all. Or if they do, it’s the measly amount left after everything else has been paid for. Instead, at the end of each pay cycle, you must pay yourself first. Even if the amount is low, getting into the practice of paying yourself first instils the mindset of reciprocity and abundance. Because being in business is not easy. Spending hours with seemingly ‘nothing to show for it’ can lead to burn out. And trying to run your business from a place of disillusionment is not what your clients deserve from you.
Second, pay your employees. They are the backbone of your business and looking after them through fair pay in a timely manner is essential. Happy staff who feel respected always perform at a higher level and deliver a better service to your clients. Financially stable employees also have greater resources to support their families and community, which benefits everyone.
Finally, make sure that you pay your suppliers within the agreed terms as they also have businesses to run. If you can’t meet the deadline for any reason, have the integrity to communicate with them as early as possible. You’ll be surprised by how often suppliers are willing to create a payment plan if you take up-front initiative.
Personal contribution
Many years ago, my wife and I had a very sick child. We chose to financially contribute to children’s health through the Children's Medical Research Institute. We set up automatic donations to offer ongoing support for their Jeans for Genes awareness day and other projects. We continue to do this because we’re committed to those organisations whose work we feel is essential. Contributing regularly to a charity is also important to upholding my personal values. Inspired by this experience and the Pledge 1% movement of ‘Building a Movement of Corporate Philanthropy’, I decided benevolence was an important process to build into my business model.
Business contribution
At quality.com.au, we strongly believe in bolstering our community. One way we do this is with the Sydney Hills Business Chamber, who we contribute to as a support partner and other ways. We also support the Cancer Council, CareFlight, and the National Breast Cancer Foundation. Yes, there's a bit of a theme there, and we’re proud advocates of the work they do.
Another way we contribute is through the B1G1 or ‘Business for Good’ program. One feature we love about their platform is that our whole team can get involved in deciding where our donations go. Within B1G1, you can select the country and projects you want to be involved in. We have chosen Australia, with a focus on education for kids, indigenous children, and environmental issues.
Inspired by benevolence
Having woven the donation process into the fabric of our financial system, we know that every sale we make equates to an immediate increase in funds for projects we’re passionate about. And we can see regular updates about those projects.
For example, through our contributions, we’ve now provided over 150 days of digital training for Aboriginal communities, given 100+ days of food to feed rescued animals, and collected 10kg of coastal plastic trash. There is no better feeling than knowing that we can support our clients to improve their business through quality assurance certification AND make a positive impact on the world around us at the same time.
That’s a true win-win-win!
For live updates on our contributions, click here.