Giving Compass' Take:
- Yad Senapathy draws on his experience as an entrepreneur in philanthropy to identify benefits from sharing one's wealth.
- How might entrepreneurs play a unique role in the philanthropy sector? How can leveraging your network multiply your impact?
- Read about how to create a private foundation.
What is Giving Compass?
We connect donors to learning resources and ways to support community-led solutions. Learn more about us.
Whatever charitable cause you are interested in — education being mine — you can contribute to and make a significant impact on the cause itself while also making yourself a better entrepreneur.
Entrepreneurs are driven and motivated by different causes and reasons, and when you apply that drive and motivation to a philanthropic cause it makes a massive impact on causes dear to your heart and in return makes you a better entrepreneur. Here are five benefits of giving selflessly throughout your entrepreneurial journey.
- It Helps You Create Incredible Personal Networks. Being involved in philanthropic causes help introduce you to other successful entrepreneurs, thus making your network more powerful. High-level business owners are often more open to networking with those that share their same passion and involvement when it comes to philanthropy.
- You Receive Educational Lessons Not Found in Traditional School. When you become involved in philanthropy it helps you become more empathetic, expands your thinking, and widens your perspectives. These are all skills that are highly useful for a business owner.
- Your Creativity is Enhanced Tremendously. Most problems that philanthropic causes aim to solve require immense creativity. By constantly using your creativity through philanthropy you are continuously developing and enhancing this skill.
- You Begin to Give Without Expectations. Doing this creates a positive mindset, which then spills over into all areas of life — personal and professional.
- You Become a More Effective Problem Solver. Through philanthropy, you’re going to constantly come face-to-face with problems to solve. The more practice and real-life problem solving you engage in, the better prepared you will be to tackle these new problems when they appear.
Read the full article about philanthropy and entrepreneurship by Yad Senapathy at Thrive Global.