should you start a for-profit or nonprofit company if you really want to
nonprofit company if you really want to
nonprofit company if you really want to help people if you really want to have a
help people if you really want to have a
help people if you really want to have a big impact and reach a ton of people for
big impact and reach a ton of people for
big impact and reach a ton of people for the better then in my opinion the best
the better then in my opinion the best
the better then in my opinion the best way to do it is to have a for-profit
way to do it is to have a for-profit
way to do it is to have a for-profit company that gives back to the community
company that gives back to the community
company that gives back to the community I got a great question from a reader
I got a great question from a reader
I got a great question from a reader Greg who he wants to start up a business
Greg who he wants to start up a business
Greg who he wants to start up a business he wants to help nursing homes and
he wants to help nursing homes and
he wants to help nursing homes and artists and he wants to start the
artists and he wants to start the
artists and he wants to start the business around that that can give back
business around that that can give back
business around that that can give back and he’s not sure if it should be a
and he’s not sure if it should be a
and he’s not sure if it should be a for-profit or nonprofit business here’s
for-profit or nonprofit business here’s
for-profit or nonprofit business here’s the thing okay if you are just doing a
the thing okay if you are just doing a
the thing okay if you are just doing a nonprofit if it’s just you if you’re
nonprofit if it’s just you if you’re
nonprofit if it’s just you if you’re trying to raise money through donations
trying to raise money through donations
trying to raise money through donations you’re always gonna be limited if you
you’re always gonna be limited if you
you’re always gonna be limited if you are out just volunteering for a company
are out just volunteering for a company
are out just volunteering for a company you can have an impact and that might be
you can have an impact and that might be
you can have an impact and that might be a really meaningful contribution and you
a really meaningful contribution and you
a really meaningful contribution and you are giving your time to something but if
are giving your time to something but if
are giving your time to something but if you really want to have a big impact if
you really want to have a big impact if
you really want to have a big impact if you want to help more than a few people
you want to help more than a few people
you want to help more than a few people then the best way to do it is to build a
then the best way to do it is to build a
then the best way to do it is to build a highly profitable business and invest
highly profitable business and invest
highly profitable business and invest the money that you make back into the
the money that you make back into the
the money that you make back into the causes that you support here’s an
causes that you support here’s an
causes that you support here’s an example of a friend of mine he runs a
example of a friend of mine he runs a
example of a friend of mine he runs a design shop and he’ll help create great
design shop and he’ll help create great
design shop and he’ll help create great products for companies and one of the
products for companies and one of the
products for companies and one of the challenges he had when he was starting
challenges he had when he was starting
challenges he had when he was starting up was I love working with with these
up was I love working with with these
up was I love working with with these nonprofits with these charities because
nonprofits with these charities because
nonprofits with these charities because I love that they’re all about I love
I love that they’re all about I love
I love that they’re all about I love their cause but if I do that I’m not
their cause but if I do that I’m not
their cause but if I do that I’m not making money right I either do it at a
making money right I either do it at a
making money right I either do it at a loss I do it for free I do it at cost
loss I do it for free I do it at cost
loss I do it for free I do it at cost I’m not making money so his opportunity
I’m not making money so his opportunity
I’m not making money so his opportunity here is either do I go and basically
here is either do I go and basically
here is either do I go and basically just work with these nonprofits and give
just work with these nonprofits and give
just work with these nonprofits and give them my services and I love doing that
them my services and I love doing that
them my services and I love doing that work and this may be personally
work and this may be personally
work and this may be personally fulfilling but he’s always going to be
fulfilling but he’s always going to be
fulfilling but he’s always going to be limited by how much time he has he’s
limited by how much time he has he’s
limited by how much time he has he’s never gonna be able to grow and scale
never gonna be able to grow and scale
never gonna be able to grow and scale and build a team because he’s not making
and build a team because he’s not making
and build a team because he’s not making money
money
money whereas if he were to go out and build a
whereas if he were to go out and build a
whereas if he were to go out and build a design shop that is for profit that is
design shop that is for profit that is
design shop that is for profit that is doing work for companies who pay him who
doing work for companies who pay him who
doing work for companies who pay him who baked him what he’s worth that he has
baked him what he’s worth that he has
baked him what he’s worth that he has mad skills and then
mad skills and then
mad skills and then donate 10% of his time 20% of its time
donate 10% of his time 20% of its time
donate 10% of his time 20% of its time whatever it is back to helping those
whatever it is back to helping those
whatever it is back to helping those causes then in the longer run he’ll have
causes then in the longer run he’ll have
causes then in the longer run he’ll have much more impact because it’s not just
much more impact because it’s not just
much more impact because it’s not just gonna be him and his time it can be his
gonna be him and his time it can be his
gonna be him and his time it can be his team where if you’re just volunteering
team where if you’re just volunteering
team where if you’re just volunteering if you’re just donating your time your
if you’re just donating your time your
if you’re just donating your time your your belief in a cause you just invest
your belief in a cause you just invest
your belief in a cause you just invest in your time into something you’re
in your time into something you’re
in your time into something you’re building a non-profit then it’s gonna be
building a non-profit then it’s gonna be
building a non-profit then it’s gonna be so limited he could be 100 percent of
so limited he could be 100 percent of
so limited he could be 100 percent of your time but it’s harder to build up a
your time but it’s harder to build up a
your time but it’s harder to build up a team around you whereas if you’re a
team around you whereas if you’re a
team around you whereas if you’re a for-profit company you’re making lots of
for-profit company you’re making lots of
for-profit company you’re making lots of money you bring on our team so you’re a
money you bring on our team so you’re a
money you bring on our team so you’re a 10 person company a 20-person company if
10 person company a 20-person company if
10 person company a 20-person company if everybody’s giving 20 percent of their
everybody’s giving 20 percent of their
everybody’s giving 20 percent of their time to this cause with tons of
time to this cause with tons of
time to this cause with tons of different skill sets you’re gonna have a
different skill sets you’re gonna have a
different skill sets you’re gonna have a much greater impact so that’s my
much greater impact so that’s my
much greater impact so that’s my challenge to you how much of an impact
challenge to you how much of an impact
challenge to you how much of an impact you want to have and really the decision
you want to have and really the decision
you want to have and really the decision you have to make is the first option you
you have to make is the first option you
you have to make is the first option you can get personally involved and it will
can get personally involved and it will
can get personally involved and it will be very personally fulfilling for you
be very personally fulfilling for you
be very personally fulfilling for you because it’s your time but you’re not
because it’s your time but you’re not
because it’s your time but you’re not gonna make a lot of money doing it if
gonna make a lot of money doing it if
gonna make a lot of money doing it if anything but you’re giving everything
anything but you’re giving everything
anything but you’re giving everything you got to it whereas the other one
you got to it whereas the other one
you got to it whereas the other one you’re not given as much time to it but
you’re not given as much time to it but
you’re not given as much time to it but you’re having a bigger impact because
you’re having a bigger impact because
you’re having a bigger impact because you have a business that can support the
you have a business that can support the
you have a business that can support the cause that you belong to I’m a big
cause that you belong to I’m a big
cause that you belong to I’m a big believer that entrepreneurs need to give
believer that entrepreneurs need to give
believer that entrepreneurs need to give back to their community if it’s through
back to their community if it’s through
back to their community if it’s through sponsorships if it’s through you know
sponsorships if it’s through you know
sponsorships if it’s through you know dollars if it’s through time if it’s
dollars if it’s through time if it’s
dollars if it’s through time if it’s through mentoring whatever it is
through mentoring whatever it is
through mentoring whatever it is something that you proudly believe in
something that you proudly believe in
something that you proudly believe in make that part of your business bring
make that part of your business bring
make that part of your business bring that into what you do as a company but
that into what you do as a company but
that into what you do as a company but then it’s still a for-profit business
then it’s still a for-profit business
then it’s still a for-profit business and the bigger that I can grow my
and the bigger that I can grow my
and the bigger that I can grow my business the bigger that you can grow
business the bigger that you can grow
business the bigger that you can grow your business the greater positive
your business the greater positive
your business the greater positive impact you can have in your community
impact you can have in your community
impact you can have in your community and afford to give more dollars and
and afford to give more dollars and
and afford to give more dollars and resources and time of yourself and your
resources and time of yourself and your
resources and time of yourself and your team to support the cause that you
team to support the cause that you
team to support the cause that you believe in so if I was ever given the
believe in so if I was ever given the
believe in so if I was ever given the option I would always pick go for-profit
option I would always pick go for-profit
option I would always pick go for-profit have a huge impact change the world and
have a huge impact change the world and
have a huge impact change the world and believe those are watching like the
believe those are watching like the
believe those are watching like the video please give it a thumbs up below
video please give it a thumbs up below
video please give it a thumbs up below it always makes want to do more for you
it always makes want to do more for you
it always makes want to do more for you and let me know what you think leave a
and let me know what you think leave a
and let me know what you think leave a comment underneath you like this video
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