Why Entrepreneurs Should Make Charity a Habit Most of us underestimate the importance of charity in our lives.
By Siddharth Rajsekar •
Opinions expressed by Entrepreneur contributors are their own.
According to Newton's third law, for every action, there is an equal and opposite reaction. I cannot help but think about the similarity this law holds to the concept of karma. Karma, a Sanskrit word meaning action or deed, states that an individual's intent and actions (cause) influence the future of that individual (effect). This concept, though originating from Hindu scripts, is accepted worldwide.
Like many others, I truly believe in this theory. All our actions and thoughts emit positive or negative energy in the universe, and these energies are in due time thrown back at us.
Why should one do charity?
Some of the most successful people are also the most charitable ones. On a moral level, a business or working professional should always give some amount of their earnings to charity.
Charity should be a regular practice to uplift society and to unlock one's higher self. Money symbolizes energy and value exchange. In order to receive, we have to give, therefore the flow of money should be constant and pure.
As one continues charity, you will notice a shift in internal energy and your business. It shifts you from a desperate state of mind to a contributive one.
Before making charity a habit, here are four criteria that will help you ensure you're giving to the right organizations.
Related: How to Truly Make an Impact When Giving Back
Personal Connection
Try to pick a charity where you might have a personal connection. This will help you oversee where your money is going and will be easy to verify whenever need be.
Credibility
Check if the organization is credible. Scrutinize beforehand and only donate to a trusted body.
Impact
Always stay updated on the visible impact your charity is creating. You should ask for data, pictures, progress reports and so on.
Related: Want Your Charitable Donation to Actually Help Someone? 4 Questions to Ask Before You Give
Select a charity with genuine managers
Connect with truthful charity managers and make sure they are doing it for the service and not the money.
How much should the charity amount be?
Ideally 10% or more of your income after paying taxes is the amount you should aim at giving for charity. One should give to charity monthly and like all other accounts, document these transactions. Doing charity also has certain tax benefits.
You can also provide value in other forms apart from money. For instance, I give free digital marketing advice to the spiritual institution I believe in. I provide my knowledge, which then works as the value energy instead of monetary charity. Trusting the process of charity will not only uplift society but also bring you closer to your higher self. And the byproduct of this will take your business and life sky-high.
My vision for my community is to make it one of the richest communities of givers. To make this world a better place we all need to work together and think bigger. Social changes and impacts do not take place themselves, they need to be set in motion.
