When Rod and Pernell started BLK & Bold, they already knew community support would be at the center of their small business, and they knew it would benefit at-risk youth. At first, they were able to support their community, but as the business grew, so did their outreach. Now they give back to more than ten cities across the country.
How did BLK & Bold successfully build purpose into their small business? As part of our small business advice series, Rod shared four tips:
1. Begin in your own backyard.
Rod and Pernell started with a cause that affected them personally: at-risk youth in need of community support. By investing in programs they were passionate about, Rod and Pernell were able to make a greater commitment and act with conviction to bring about change. When you are choosing a purpose for your small business to support, consider what your younger self would have benefited from, what you are personally invested in and where you would like to make a difference.
2. Be transparent.
On the BLK & Bold website, customers can scroll through a list of pledge partners who received a portion of the small business’s profits and how much they receive. This transparency is important to consumers who want to support you and the cause you have chosen. Be open about the organizations and programs you are backing, and build that trust among your audience.
3. Choose which organizations to support.
When deciding on which organizations they wanted to support, Rod and Pernell opted to give money to established programs that were creating the change they wished to see. Donating to programs whose missions lined up with theirs and had already put down roots allowed BLK & Bold to focus their finances on donations instead of organizational upstart costs. All of their donations went straight to the cause upfront.
4. Decide how to donate.
BLK & Bold made the pledge to donate 5% of their yearly profits to a set list of outreach programs, but that isn’t the only way to give back. You could host an annual donation drive, round up change throughout the year, donate profits from specific goods or services, or even have a volunteer day where you close shop for a day to volunteer. The options are numerous—just pick one that works for your small business.
Building purpose into your small business can involve small changes that make a huge difference in your life and the lives of your peers.
For more advice, follow us on social media and keep checking back! Our series features insights and ways to implement changes from small business owners across the country.
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