Has anyone ever launched a startup and gave away a percentage of profits to charity from the get-go? Or introduced it further down the line?
I'm seriously considering doing this but would like some feedback from others if possible who have been there and done it.
My new brand/company is going to be my life's work. Something that becomes greater than me. Something that still survives when i'm long gone. I also want to use this brand as a platform to give to something back to people less fortunate in the world. And when i say "people" i mean children.
I'm considering giving away 10% of profit from my company from the start for 2 reasons:
1. I want to use this as a USP compared to my competitors.
2. I strongly believe that life as an adult can be hard enough so Children should be allowed to be children. I would like to give terminally ill children the chance to fulfil their dreams, visit locations (disney world) or help make whatever time they have left as best it can be. This also ties in with my brand which is in Travel.
Has anyone got any thoughts on the good/bad points of this idea? My Wife thinks it's a ridiculous idea and i should concentrate on generating profits first and giving back later. I think by doing this it will actually increase sales and i can also offset a percentage of the donation towards the tax liability.
I'm seriously considering doing this but would like some feedback from others if possible who have been there and done it.
My new brand/company is going to be my life's work. Something that becomes greater than me. Something that still survives when i'm long gone. I also want to use this brand as a platform to give to something back to people less fortunate in the world. And when i say "people" i mean children.
I'm considering giving away 10% of profit from my company from the start for 2 reasons:
1. I want to use this as a USP compared to my competitors.
2. I strongly believe that life as an adult can be hard enough so Children should be allowed to be children. I would like to give terminally ill children the chance to fulfil their dreams, visit locations (disney world) or help make whatever time they have left as best it can be. This also ties in with my brand which is in Travel.
Has anyone got any thoughts on the good/bad points of this idea? My Wife thinks it's a ridiculous idea and i should concentrate on generating profits first and giving back later. I think by doing this it will actually increase sales and i can also offset a percentage of the donation towards the tax liability.
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