Top 10 Tips for Building a Generous Business

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More and more business owners are being influenced by the generosity message. There is a grow­ing need for practical insight on how to create a generous business. If you’re considering making the move, here are “Top 10 Tips” to help to jump-start your thinking:

#1. Make Sure the Business is Strong and Respected

You can’t have a successful giving program without profits. Taking care of your customers and providing great service and products is im­perative if you want your customers to support you in this endeavor.

#2. Lead by Example

Make a personal commitment of your own time, talents, and money. Don’t ask your staff to do something you aren’t willing to do yourself.

#3. Include Stewardship in Your Mission and Vision Statement

Make your goals more powerful and meaning­ful by going beyond just being number one in your market.

#4. Set Giving and Relationship Goals

You may want your initial goal to be ambitious and fun (e.g. percentage of profits, total dollars, involvement, alliances built, vol­unteer hours). You use business metrics, so why not use giving metrics? Measure results, not just dollars.

#5. Empower Your Staff and Their Families

A “generous business” starts with the owner and leadership team but cannot be accomplished without broad staff involvement. True transfor­mation happens as your whole staff and their families become owners and shapers of the vision.

#6. Be Creative, Take Risks

Get creative, when it comes to giving programs, and add them progressively as the giving cul­ture grows and skills are developed. Support new ventures and passionate people.

#7. Develop Guidelines for Focused Areas of Giving

Be careful about where money goes because your reputation goes with it. Draw boundaries that you and your staff can live with.

#8. Recognize That It’s Not About the Money

It’s about building relationships and changing the hearts of your staff, your change partners, and the lives of people you are reaching.

#9. Learn from Mistakes

Don’t be afraid to experiment and change. Find what works for you. Use mistakes in grants or programs as opportunities to learn.

#10. Celebrate Giving Successes

Develop programs to recognize the impact of your company and staff. Bring out the joy for everyone!

We’ve helped a few business successfully implement “generosity” into their business plan and corporate culture. We’d love to help you and your business too.

[Material for this post taken from an article by the National Christian Foundation.]

Listen First, Comment Later

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When new information is introduced at the start of a meeting and opinions are held until the end, groups make smarter choices.

What could be worse than a business meeting where participants ignore the right information and make the wrong decision? Recent research reveals a simple way to reduce the chances of this unfortunate outcome. Several studies have shown that when groups fail to arrive at decisions, it’s often because they devote too much time to finding common ground rather than weighing the pros and cons of what each person is saying. Building on that notion, this paper finds that meetings are especially ineffective when attendees begin by disclosing which way they are leaning; upon voicing an opinion about a decision, people are more likely to ignore information that others introduce, even if it could potentially change their opinion or contribute to a better decision.

The authors simulated a meeting environment by inviting participants to play the role of a member of an airline hiring committee that was choosing a single pilot from among four candidates. In one set of experiments, the subjects received individual pamphlets containing partial and different information about each of the candidates. They were then split into groups. In some groups, members immediately told each other their selection; in others, they kept their choices to themselves. The groups were then handed complete dossiers on the pilot candidates, at which point it became obvious who the best person for the job was. Despite this, people in the groups that had initially shared their preferences based on the incomplete data mainly stuck to their original choices and remembered little about the information presented at their meetings, suggesting they had failed to pay much attention to details introduced after they voiced their opinions. By contrast, the groups that had been closemouthed about their favorite candidates more readily identified the best person for the job.

According to the authors, 90 percent of group discussions begin with the members disclosing their pre-meeting biases. Considering the results of their research, the authors advise managers to reduce the number of distractions that may impede group members from processing new information and to ask participants to hold their opinions until the end of a meeting.

Bottom Line: Individuals fail to process information introduced by others during meetings after their own preferences have been voiced, which hinders optimal decision making.  

Author Profile: Matt Palmquist was a founding staff writer and is currently a contributing editor at Miller-McCune magazine. Formerly, he was an award-winning feature writer for the San Francisco–based SF Weekly. // Original Material::Title: Knowing Others’ Preferences Degrades the Quality of Group Decisions (Subscription or fee required.); Authors: Andreas Mojzisch and Stefan Schulz-Hardt (both affiliated with Georg-August-University); Publisher: Journal of Personality and Social Psychology, vol. 98, no.5; Date Published: May 2010