Business & charity: 'Smart' combo

The desire to give back, to create value beyond the balance sheet and income statement, has long been a goal of thoughtful business people across the generations. The charitable efforts of Bill Gates for example are well known today as were those of Steel Magnate Andrew Carnegie in his time. As our culture grows in wealth and knowledge, the desire to give back and make a difference of some kind – beyond traditional giving directly to various causes has spawned new and innovative ways of creating sustainable value.

Food banks, United way, and many others have succeeded all the while needing to continuously look for donations, such as holding regular fundraising drives to keep their operations going. The trouble with these funding models of charitable efforts is that they require continuous energy to keep the organization going, asking for a lot, typically from a small group of dedicated volunteers, creating fundraising events, pleas for donations etc.

Over the last generation or so, some new ways to create charitable value have emerged. Habitat for Humanity is one that works quite well. The Habitat Restores do a great job of generating cash needed to fund the start up of a house building program for those who can prove both need and a willingness to assist in the build itself and pay interest free for the house cost itself, less the labour volunteered. This is a somewhat more sustainable model, creating charitable value without the continuous need to lean on a small group of dedicated volunteers to seek funds and donations.

Toms Shoes, among my favorite, is at the forefront of another sustainable social business model, often referred to as the “one for one” model. If you buy a pair of shoes from this company, they will donate one free pair of shoes to someone in a part of the world where shoes are not taken for granted. No donations, no volunteers, and yet a great social and charitable outcome is achieved.

Photo: Contributed

Similarly, here in Kelowna, another version of a sustainable charitable business model has arrived in the form of a new Social Buying enterprise named Smart Betty.

They have a great tag line, “Smart daily deals that give” making it clear up front that they intend to set aside 10% of their revenues for local Charities. The daily deals also focus fully on local deals from local enterprises. Here in Kelowna, Smart Betty has partnered with United Way Central & South Okanagan Similkameen, Canadian Cancer Society,
Kelowna's Gospel Mission, the Society for Community Living, Big Brothers Big Sisters, Bumbershoot Childrens Theatre,
and our newest partner, Crime Stoppers Central Okanagan as well as several others.

When Bruce Maki, owner of Smart Betty here in Kelowna, first heard of the model, he was all in. The business model struck a cord with him as a mid career business man, he had been giving a lot of thought to how his work life could do more for the greater community, while utilizing his many business talents.

“I have found my voice as a professional and a business owner” said Mr. Maki. When asked about his reasons for starting such a business. The passion that he exudes when speaking about the potential to generate sustainable value in Kelowna for both the customers of Smart Betty and the Charitable groups he has partnered with is an inspiration that I hope will be infectious with many others in business here in Kelowna and across the Okanagan Valley.

This article is written by or on behalf of an outsourced columnist and does not necessarily reflect the views of Castanet.