The Business of Boutique Fitness
147: The 10% Rule: Here's How We're Giving 10% Back To These Charities {and why it's an indispensable part of our business model}
Do you ever start to share something so precious to you that tears start to flow midway through because it’s just so important, so powerful that you can’t even disconnect emotionally at any level?
That’s what corporate philanthropy, the opportunity to use my profits to financially empower change, is to me.
I’ve always seen my businesses as a vehicle for change, a chance to truly transform the greater world around me in a way I could have never done as someone else’s employee.
And, the best part is that it doesn’t take much to get started on that path.
In our businesses, we viewed corporate philanthropy on 3 levels.
1. Giving back to your team: As the owner of a business how you build and nurture those who work alongside you, to build your dream, is one of the most powerful ways to impact direct change.
The key to every example, I give is simple: EMPOWER.
Allow your team to have an active voice in where you give back, offer time for them to step into roles in their community and to support organizations that matter to them.
2. Giving back to your community: What’s the second biggest reason, my clients tell me that they’re not ready to raise their prices?
They don’t want to exclude anyone who’s struggling to afford their services and desperately needs them.
That’s a pretty important reason.
But, what I’ve learned after working with thousands of clients is that, to someone who’s sitting at the poverty line, ANY self-care expense, no matter how inexpensive is a struggle.
So, I’ve chosen to eliminate the finances for those people, and thanks to my high profit margins, we’ve been able to give scholarships that lifted the financial burden completely and offer free programming to every senior over the age of 80.
3. Giving back to the world: My parents instilled one very simple core belief in me growing up:
“You are blessed… therefore, you are called to bless.”
With that in mind, since I was a ten year old with an envelope system allowance, I’ve always aimed to give back 10% of my earnings, my tithe, to those who needed it most.
And, my businesses, well, they’ve just opened the doors up financially to give a little more, whether I’m working with local charities or individuals we see who just need a leg up.
It’s without a doubt what I am most proud of in my business. Cause even when we start small, we can really change the world, one baby step at a time.
On today’s episode you’ll learn:
- How I treat my business like a non-profit by giving back to my team
- Steps that you can take to give back now!
- What we do to allow our employees to give back to their communities
- Why you have to solidify your business before taking these actions
- Ways to build your prices to allow your profit margins the room to give back
With grit + gratitude,
Lisé
