When you think of the term strategic philanthropy, one company comes to mind: Tom’s Shoes. You’d be hard pressed to find someone who hasn’t heard of them. For every pair of shoes someone buys from them, they send another pair to a developing country. That strategy, do good to make money, has made them incredibly successful.
Today’s guest is Tom Matzen, and in this episode, he explains exactly what strategic philanthropy is, how your customers will thank you for raising prices, and a simple formula any company, from start up to corporation, can use to do good and make more money – ethically.
At 3:00 – Tom describes the difference between a small business owner and an entrepreneur. At 8:00 – It was a poor review from a customer Tom helped to increase her sales by 50% that finally made him realize that he wasn’t truly meeting all of his clients’ needs. At 12:00 – Tom dives into what strategic philanthropy is, and how to pick a great cause to support that makes sense for you and your customer. At 20:00 – Tom describes the formula any company can use to do good and make more money in an ethical and sustainable way. At 26:00 – Tom shares his vision of how it’s up to business to save the world, not government. At 33:00 – Tom explains how a company can use a simple formula to ensure they are sustainable as they work toward their good cause. Find and Define Your Nich