Daniel Yomtobian Shares 4 Benefits of Giving Back to the Local Community
As a business owner, investing in your community is a great way to give back to those who may have helped support your mission. Local volunteer groups or non-profit organizations give a lot of help to the communities they’re a part of, but it can’t be done without the help of others.
Many business owners enjoy giving back to local communities for a pleasant feeling of “doing good.” But, that’s not all. Giving to local communities has tangible benefits for a business, too. Daniel Yomtobian of Los Angeles, California, philanthropist and CEO of Bian Capital, shares four direct benefits a business will see when giving back to the local community.
Make an Impact
If you’re looking to make a large impact or a lasting difference in your community, consider getting involved in your local society. Unlike other aspects of a business that you may not be able to control, giving back or volunteering your time will allow you to choose where and how to make a difference. A great place to start is to get involved with a cause that aligns with your company’s mission, vision, and values. This will show you’re giving back to something you truly care about — and it’s rewarding to see how your generosity will make a direct impact in others’ lives.
Strengthen Your Community
Regardless of the initiative you decide to get involved in, you can strengthen your community by improving the areas where you work, live, and play. A strong community with high quality involvement and care means happier and healthier lives for yourself, your business and its stakeholders, and of course, the members of your community.
Gain Respect from Key Stakeholders
There’s just something special about working for or with a company that’s involved in its local community. As a business owner, says Daniel Yomtobian, it’s imperative to make your company a positive force in the community — it will not only improve your impact within the community, but it will also allow your company to gain respect from key stakeholders (i.e. employees, investors, etc.). Bottom line — good morale is essential to a successful business and it can be one of the best ways to retain those that support your mission.
Build More Connections
Companies that give back generally gain more power and provide more influence than those that do not. As a result, a business that’s involved in its community will gain more local contacts. For a business owner, local connections are an invaluable resource for business success; the people you know can determine how your business moves forward and what opportunities it will see.
Final Thoughts from Daniel Yomtobian
As you can see from the benefits Daniel Yomtobian highlights above, giving back to the local community can have powerful impacts on your business, and more importantly, on your community. And while these benefits are wonderful for any business owner, the one reason above all to implement a process for giving back to your local community is that it’s the right thing to do. Regardless of your business’s size, giving back or volunteering your time to your local community should always be considered essential.