Strategic Philanthropy with Tom Matzen
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 , 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. Today’s episode is a little longer than normal, but it’s one you’ll want to come back to more than once. KEY POINTS: 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.