Make Money By Helping People To Make Money And Live Rich
The basics of business are changing at an astounding pace in today’s world. Be it the concept of common good or corporate philanthropy, it cannot be denied that the stress today is a lot more on how to make money by helping people to make money and get rich. The whole idea crops up from the concept that common wellness can no doubt leads to individual profit. In the words of Ram Shriram, one of the first investors and founding members of Google Board,
“Life is fleeting, and permanence in this world is something we all strive for. The best way to achieve permanence is through philanthropy.”
Indeed, often it is this idea of gaining more social acceptance and sharing their individual gains with the society that propels large corporates to donate significant chunks of money in the form of charity and also initiating social causes. Perhaps that is why you see concepts like corporate social responsibility gaining currency and almost becoming an integral part of company policies. The core concept in this is while individual wealth allows only a person to grow or at most a select group, effective corporate philanthropy can actually help the entire community to develop and even inspire and work towards a more constructive profit earning track.
In the words of Rosabeth Kanter of Harvard Business Review,
“Companies that are breaking the mold are moving beyond corporate social responsibility to social innovation. These companies are the vanguard of the new paradigm. They view community needs as opportunities to develop ideas and demonstrate business technologies, to find and serve new markets, and to solve longstanding business problems.”
Of course, the whole idea revolves around the fundamental thought that development and progress is a symbiotic phenomenon and without involving the entire society as a whole, it is difficult to conceptualize sustained growth over the long term. The society as we see it today is not just very close knit but also extremely connected and this in itself necessitates sharing and enjoying as a larger group rather than keeping it closed in a small circle as was the practice till very recently.
By helping people to make money also highlights another key aspect of our intrinsic human values. It is about care and concern for our fellow brothers. While these values have always been inculcated to us on the personal front, corporates today our waking up to the associated perks like creating good will, improving brand loyalty and in general a boost to the revenue outlook on the back of these basic value based investment. Yes, indeed these are investment for a company as not only do they help someone or some community steer towards progress but also piggyback on that bandwagon to seal their growth outlook.
Why Should We Help People To Make Money and Get Rich?
That perhaps brings us to the next point which is why we need to help people to make money and get rich?
Well apart from the feel-good factor, it has multifaceted benefits. It ensures that we pave the foundation of a greater and better living condition for the society as a whole and this, in turn, always helps in enhancing the overall quality of life that we live. This type of help always ensures that as individuals it instills a set of core value system that teaches us the most important lesson of giving back to the society which is the source of all our independent endeavors.
Better Community to Live
Perhaps the best example of this is Facebook. When the company moved its offices to the old Sun Microsystem campus in Menlo Park, there were lots of doubts about the possible impact on the overall community life. But Facebook spent a significant sum on improving the infrastructure like fixing the bike trail and reducing the potential traffic situation, donations to the schools around the office to improve their facilities and the like.
What Facebook achieved in return was the simple fact that this kind of community enhancement ensured that they provided the right kind of motivation to their employees to agree to shift. They created an atmosphere where the community was positive about the shift and adjusting to the sudden inflow of so many people coming down to one locale all of a sudden and added to an overall initiative to improve the living conditions in the place that is giving them the sole sustenance power and helping the company improve. Also, this shift created the opportunity for many other potential businesses to mushroom and grow given the sudden influx of a large number of people.
When Facebook donated a sum of $120 million to schools around the area, it was not just a matter of doing charity on the basis of the huge profits that they earned. In a way, Facebook is perhaps also trying to seal both their future and the society’s as well.
Well, schools in that area become better equipped, students have access to better opportunity easily and this enhances their overall productivity. This also convinces a lot of families to shift and take up jobs in the area given the access to good schools for their kids. This, in turn, also spurs business and goes a long way in addressing unemployment issues at some level.
Now look at it from a greater perspective, the youngsters of today also form the foundation for better tomorrow. In that context when you have strong schooling experience, kids also grow up to be more self-reliant and independent with a positive mindset. So the $120 million becomes an investment for not just relocating office for Facebook but rather an insurance for a potentially brighter future going forward and bringing about a positive social change overall.
A rich entrepreneur doesn’t just help people to make money in material terms only. There are situations when more than the material value, it is the type of investment that they make to improve the society at large.
Crime can often be directly related to lack of education, job, poverty and deprivation always. Perhaps the efforts of the Tata Group, in this context, is a direct example of how corporate can bring about a positive change.
JRD Tata, the founder of the group that now owns some of the biggest brands in the world including JLR and Corus, was a visionary along with being an able entrepreneur. So he just did not build industries and manufacturing hubs, but the Tata Trust became instrumental in running schools, hospitals and overall healthcare facilities across India. These welfare centers did not just provide relief but also provided employment opportunities limiting the crime rate to a significant level.
In terms of entrepreneurial endeavors, perhaps one of the biggest achievements of the Facebook investment around the Old Sun Micro office area has been known for the positivity they generated.
People who initially resented Facebook’s move to the area and raised questions about the potential impact on the quality of community life they would have become their greatest supporters. So it just did not create a positive atmosphere, it also reduced the relative jealousy that detractors might have felt.
It created a feel good factor all around and helped individuals to truly take advantage of the opportunities opening up. Facebook in playing the role of the facilitator perhaps became the biggest beneficiary is not getting hero status but significantly reducing the number of enemies that they made.
Happy Families, Better Atmosphere To Raise Kids
We all know Bill Gates as a successful entrepreneur who perhaps earns millions but the fact is through the Bill and Melinda Gates foundation, they are also trying to bring in a significant change in the lives of many underprivileged families.
Between Buffett and Gates, they have together pooled in 154 signatories across 16 countries to the Giving Pledge initiative to pool in resources to improve the lives of hundreds of families around the world.
What it does in the bargain is it creates many happy families and provides a lot more level playing field for raising the kids. The children with access to these better accessories become the direct beneficiary of the additional fund inflow and thus grow up to be better-abled individuals with the capability of providing better service to the society.
When Wipro founder Azim Premji created a fund for furthering educational opportunities, he did not just create a platform for furthering academic excellence. In a way, he also created the condition that enhances better awareness.
Less Illness & Diseases
Empowerment goes hand in hand with greater awareness and lesser illness.
According to the Gates Foundation, one of the most active participants in bringing about social improvement and awareness, there are more than 200 million women in developing countries who do not have access to birth control measures but surely do not want to get pregnant at regular intervals. As a result, the foundation allocated close to $600 million to create awareness and facilitate empowerment of these women and hope to cross over the 100 million women mark by 2020.
The fact is this initiative is not simply about empowering women. Unnecessary pregnancy and proper nourishment also ensure individuals to live a more fulfilling life and stay healthy. A healthy mother also ensures that the children are healthy and therefore can live a more stable and productive life.
So the entrepreneurs in ensuring the health of those who do not have access to proper medical care are also helping people to make money by becoming more able bodies and efficient in conducting business.
Less Bad Jobs
Time and again I come back to the Facebook example because it is not just a wonderful instance of corporate investment in social sector but the long-standing impact that it can have on the society in general.
When Facebook moved to the Sun Microsystem premises, it just did not ensure that the people associated with the company relocated and lived comfortably but also resulted in spurring demand for many other constructive businesses from new housing to more cars, grocery/stationary shops and the like. It also led to the creation of day care centers and many other allied businesses.
All this obviously spiked up the relative employment rate in the region and provided access to better employment condition to more people. The obvious correlation is that when people are constructively employed, the relative indulgence in bad jobs decreases significantly. This not just helps an individual but proves to be beneficial for the society at large. People are employed, happy and as a result are less prone towards violence and any other negative activity that can deter the depth and structure of the social construct. In a way, therefore, this is nothing less than helping other people make money.
Gain Employee Respect
Many times the way startup founders and new entrepreneurs address employee happiness is appalling. They forget that these employees comprise the backbone of the system that is working tirelessly to help them achieve their dreams. Therefore, it is but fair that the employee happiness remains in the forefront in any entrepreneur’s list of priorities.
In this regard, the positive investment made towards social upliftment is always a great step. Employees take pride in the positive initiatives taken by the employer. These kinds of initiatives also make the employer a lot more sensitive towards the employee’s needs and happiness. No doubt the employee develops a deep sense of respect for the employer.
I am again tempted to use the Tata example. The sense of respect that the Tata employees feel in associating themselves with the brand and the pride with which they wear the Tata uniform goes a long way in highlighting the kind of positivity that philanthropy can generate and its long-standing social benefits. By providing an appropriate role model, they are also encouraging individuals and help these people make money using their own abilities and potential to excel.
A TV serial once quite rightly termed Philanthropy as a gateway to power. It is one of those dual-edged swords that every entrepreneur can take benefit of.
Any successful businessperson can explain to you the great benefit of creating a positive campaign for a brand and the untold positive that it unfolds. It often goes without saying that they bring about the sustainable sense of goodness and positivity to the brand and often results in brand loyalty. People want to be associated with these brands and be looked upon as committed individuals with a social cause and commitment.
On a greater perspective, the money that an entrepreneur uses to build better community condition unconditionally creates the foundation of strong and prosperous living conditions for future generations too.
Not only do the current employees or current residents benefit from it but also all those who are the direct beneficiary like the kids who study in the schools established by entrepreneurs or the patients in the hospitals created or run by corporate become assets to the society they help building.
People attach a positive sense of association and invariably are encouraged to persevere in their individual endeavors to excel and be successful. Therefore, you help people to make money as well as ensure their future growth by sharing their wealth with the society.
Good luck 🙂