In the business world, many practices can help your business grow. One of them is when you help other companies to find its success, this is a win-win situation, and there is much proof of it. Today we will explain how this is one of the best practices in business and some examples. Keep reading to find out more!
Read: Unconventional business ideas: succeed by thinking differently
Best practices in business: companies that help others
Every company wants to proceed with the best practices in their areas, but sometimes some techniques help in different ways and bring the brand’s right image. One of those is helping other companies. We live in challenging times, so this is the best moment to find the best example of help among companies and humanity. Some sectors are suffering more because of the pandemic, businesses led by women and people of color know the confinement struggles for their brands, but other companies have stepped up and shown a helping hand to them. Check out their stories:
Black Innovation Alliance
BIA was born out of the cancellation of an industry conference of Black business leaders, all thanks to the covid-19 pandemic. Still, instead of fulfilling the confinement dedicating efforts to their businesses, these leaders decided to take advantage of digital tools and launching the Alliance, focusing on helping fellow owners and leaders cultivating Black entrepreneurs, innovators, and creatives. They decided to face the pandemic as a time of opportunity and showcase the works, creation, and efforts of businesses led by people of color through their Innovator Support Organizations (ISOs).
EnrichHer
This funding and networking platform was founded by Dr. Roshawnna Novellus, a Black Innovation Alliance ISO. But it’s focusing on businesses led by women, especially Black women. For this, Dr. Novellus decided to launch EnrichHer’s new program: All Rise Factory, a program for funders who want to support women that have been in the business for at least a year. She also likes to remember that there are many ways to help small businesses and companies purchase or even share their products and services on any social media platform. «Whatever you choose, it is important to remember that success is greater when we support each other,» Novellus said.
My Pet Child
John Cho is the founder of an exciting platform named My Pet Child. With the quarantine due to the covid-19 pandemic, many families decided to bring home a new four-legged member. But with the economic problems, some of those families are starting to realize how expensive it can be to have a pet. John saw a business opportunity thanks to his digital marketing background, and that was how My Pet Child was born. Now it’s a community where vet clinics, rescue organizations, pet food stores, and other pet-related businesses come together to help family and pet owners in the middle of these challenging times. “…This is a once-in-a-century opportunity to not only make a profit but make a difference,» said John, who is expanding My Pet Child to reach rural areas and help more pets and families to keep them.
PTPioneer
Another industry that is struggling in the middle of this pandemic is the Fitness Industry. Many of these training is done in person, while in a Gym, or with a personal trainer. But due to quarantine, those places must remain close, and their trainers had to stay at home. So Tayler Read saw an opportunity not just to start a business but also to help their fellow trainers and gyms to continue their services and programs using online platforms. PTPioneer focuses on teaching its clients to take their fitness programs into the digital world and catch clients there as an alternative to face this crisis. «In this time when we’re all scrambling to get by personally and in business, don’t stretch yourself too thin by trying to perfect a new skill or strategy,» Read said.
Team Building
This business started way before the covid-19, but after the quarantine’s start, their revenues dropped to dangerous levels, so its CEO Michael Alexis decided to change some things and took the digital world offering the same services platforms such as Zoom. Their services are aimed at companies that want to work on their employees’ team-building, but their programs need an update and new strategies to offer them online, and that was precisely what they did.
After one of their first virtual events, the reception and feedback were incredible, and they feel motivated to work on that: «That one piece of feedback helped us realize that this isn’t just providing fun or opportunity for bonding; it’s helping people feel normal in a period that deeply needs it,» said Alexis. After several events, their revenues started to become even more significant as before, which allowed them to rehire old employees and look for new ones. But they also have unique programs that help nonprofits and educational organizations with subsidized services and help small companies sharing their knowledge in team-building with dozens of free virtual activities.
Why these practices in business are convenient
There are many reasons why these practices are the best for any business or entrepreneur. We are going to talk about some of them:
- It’s the right thing to do, and as a business owner that helps others, you will feel right about that. And why not this can go beyond helping other companies in your sector, what about your community or supporting a good cause; all these can lead to a right image that trusts us will help with brand reputation.
- It can educate and empower because it’s not only about the economic aspect. It’s more about giving them the tools and the knowledge to help them succeed with anything they want to do in their businesses, especially for some minority-like companies led by women, immigrants, and Black people.
- It will have an impact, and this can last forever. When you touch so many people’s lives, this will keep with them for many years, and knowledge is the power that can lead them to beautiful things in years to come.
- It’s a win-win situation. Both parties or anyone involved will receive good results. Take, for example, My Pet Child. They are not only helping pet families, but also they are giving a free advertisements for pet-related businesses around the country.
So helping other companies, whether small or startups is one of the best practices in business. There are many benefits for everybody, so lookup for the ones you want to help, or if you’re looking for help, check out organizations close to your area. Keep in touch with the Magazine to know more about those practices.
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