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Giving Is Not subtracting
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Overview Transcript Case Study Video
Paul Smith.
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Paul Smith gives hundreds of guitars made by his company, Paul Reed Smith Guitars, away to high schools in Maryland.
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Be Generous

Small business owners are among the most generous people on earth.

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Key Ideas of this episode
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1. Win A Contest
2. Advocate For Others
3. Make A Product That Makes A Difference
4. Capitalize On What You Know
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5. Be Generous
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6. Access Free Help
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7. Talk To Experts
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8. Get The Cash You Need
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Paul Smith, founder of PRS (Paul Reed Smith) Guitars, counts among friends most of the leading guitar players in the world today (how about Carlos Santana for a start?). As you can see from his quick smile, Paul is a lovely human being. He is also very, very generous and this not atypical for small business owners.

National Federation of Independent Business research tells us that small business owners are among the most generous, most religious, and the wealthiest segment of our population.

Many of the business owners we have profiled have been very generous with their local PBS-member station. Small business owners are forever giving things for the annual auctions. Some have served on the board of directors. They are the leaders within their trade associations, within their local Chamber of Commerce, Rotary Club, Lions, Kiwanis, Big Brother / Big Sister, and on and on.

Topic for Discussion: How can we make money if we give everything away for free?

Answer: Good question! There are hundreds of churches and other non-profit organizations that raise money or collect goods and then give them to people in need.

Marc Katz, owner of Katz Deli in Austin, Texas told us he has learned in life that when he gives, it comes back to him. The people or the charity he gives to end up circling back to do business with him. Sometimes, someone connected to someone Marc donated to comes to him to do business.

Marc also said he is a big plagiarizer. This means he steals ideas and he doesn't steal ideas from small business, he steals them from big business. His lifetime guarantee idea came from the idea of the "Good Housekeeping Seal of Approval." His strong commitment to charities comes from studying big foundations.

He reminds us that people who run big businesses are, "not stupid." Big businesses establish foundations and other programs to assist those in need because it always pays to be nice. Other business owners we know who subscribe to this strategy talk about it as the way they launched themselves in business.

Topic for discussion: Why is volunteering to work with a non-profit organization good for the soul and also such a good marketing technique?

Answer: Albert Black is founder of On Target Supplies and Logistics. His passion is community service and by accident he found this to be his best marketing strategy. Albert gives of himself because he loves people and love life. Yet, when you want to sell something, it is difficult to know who actually has the checkbook! When you work on a good cause, you will meet people who will often tell you who they know and who might possibly be your next customers.

Albert worked with the Chamber of Commerce and when he received an award for service, John Castle was present at the event. Today, John Castle is on Albert's board. John also leads EDS, one of the country's largest companies, and as you might guess, EDS is now one of Albert's customers, too.

You think about it: What have you given in the past? What can you give? What should you give?

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