Why Successful Entrepreneurs Prioritize Philanthropy

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Philanthropy has become a common topic among CEOs and entrepreneurs. As businessmen and women, it is part of your social responsibility to do good to others. There are many ways you can do this; you can donate money or spend valuable time volunteering in the community.

Successful entrepreneurs like Thomas Kane have been successful due to hard work and dedication. But like Kane, they also donate their time and energy to the community, through several charitable initiatives. Chicago’s Thomas Kane is known for his philanthropic efforts and is the Illinois President of the Friends of the Israel Defense Forces (FIDF).

Here is why successful entrepreneurs prioritize philanthropy.

Self-fulfillment:

Self-satisfaction is very important in life. Happiness itself is dependent on how fulfilled you are. Studies have proved that self-fulfillment is of utmost importance to philanthropists. It has conveyed through statistical results that personal fulfillment is one reason why successful individuals prioritize philanthropy.

To share a common platform:

Entrepreneurs do not give unintentionally, they have already researched the benefit of any work they perform. Being a philanthropist gives entrepreneurs the chance to form relationships with many different people. They may get new clients this way or get the opportunity to be a prominent partner in an ambitious startup.

Improve skills:

Getting in touch with a variety of people, entrepreneurs tend to discover their strengths and where they lack in order to improve.  Leaders inspire the working force. But they too need to improve themselves and their management style over time.

For people desiring to get an executive status, sitting on a non-profit board may give them the opportunity to develop the required skills and abilities to hold such a position.

Social issues:

Philanthropy is the best way for a business to show how concerned the firm is about the welfare of the community. It makes people aware that the business is more concerned about social issues than just selling a product. Entrepreneurs get involved with the community.  They support health research, sponsor a child in need, go out and start a community garden, organize a sporting event and raise funds for a charity.  This not only demonstrates how successful businesses can be in coming together for a common cause, it also shows how necessary it is for them to be involved in society.

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