CHARITABLE PLANNING

Gillian Howell

When professional leadership , entrepreneurial skills and philanthropy intersect , it can accelerate progress that ’ s been stalled for decades .

Entrepreneurial philanthropy involves a leader identifying a problem or need and then using all of his or her skills and resources to fulfill the charitable mission .

ODAY ’ S GLOBAL CHALLENGES — FROM THE HUMANITARian crisis in Ukraine to Covid-19 — are leaving people everywhere with a sense of powerlessness . Among affluent clients , this pervasive frustration is prompting some to search for ways to engage in activities resulting in meaningful , enduring change .

Effecting real change takes more than good intentions . It requires vision and expertise , both of which are common attributes of accomplished business professionals . So if you have entrepreneurial , driven clients who really want to move the needle , encouraging them to do so through philanthropy can help them overcome the feeling of powerlessness many successful people have felt in the last two years .

Often , the same qualities that make many entrepreneurs successful in their professional lives can help them in their charitable endeavors . In fact , their natural resourcefulness might help them put a refreshing new spin on their good deeds and make greater positive impact .

In the professional world , many of the most exciting and profitable enterprises come from innovation . And philanthropy is like many industries — something ripe for disruption .

There ’ s no shortage of challenges to tackle , and while conventional methods of giving are still effective ( for example , soliciting grant applications from nonprofits and awarding funding to whomever writes the best proposal ), they can have limitations .

So we suggest that highly successful people think of this new part they can play as “ entrepreneurial philanthropy .” It ’ s an approach to solving social problems that will be especially rewarding for business leaders and change agents wanting to make a lasting impact in the world . If they have an impact , it helps them build a legacy for themselves , their families and their communities . It ’ s also an excellent means for younger professionals to hone their business and leadership skills .

In its simplest form , entrepreneurial philanthropy involves a leader identifying a problem or need and then using all of his or her skills and resources to fulfill the charitable mission .

6 Tips To Drive Change

Clients inspired by this notion can take six steps to get started . Think of it like a trip :

1 . Conduct a pre-trip inspection : Ask your clients this : What advantages and attributes do they have that could make them successful social innovators ? How are they uniquely qualified to make a difference , and where can they do it ? Many small donors with business know-how and professional connections are of-

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