Volunteerism does not factor in to everyone’s work/life equation. If you feel overburdened with your workload as it is, you probably can’t imagine setting aside time to volunteer.
But whether you are a rookie or a veteran financial advisor, having an active presence in the community you work in can have many benefits.
“Giving back to your community should be worked into your business,” says Jessica Kemp, president of Kemp Financial Group Inc. in Niagara Falls, Ont. “Sometimes, [volunteering] goes hand in hand with networking.”
Kemp, a former professional basketball player, volunteers as coach of a junior girls’ basketball team in her community. Kemp admits it’s easier for established advisors such as herself to fit volunteering into their schedule. But, she says, young advisors can learn to structure their time effectively and accommodate extracurricular activities as well.
Clients, she says, do take notice when advisors give back. And there are other benefits to volunteering. It allows you to distinguish yourself in your field and improves your profile in the community.
“We have so much competition. We all offer the same funds, the same product shelf,” says Kemp. “So, what sets us apart from everyone else?” A commitment to your community can be a strong differentiator.
Kemp offers the following tips on how to make volunteering a part of your schedule:
> Reflect on your motivations
There’s an element of self-interest at play when people volunteer — and it doesn’t necessarily hurt to acknowledge it. In fact, it’s crucial to be honest about what propels your interest.
For example, as much as you genuinely want to make a contribution, you may also derive satisfaction from staying involved in activities that you enjoy.
When the opportunity to coach came along for Kemp, she saw it as a way to encourage girls to pursue basketball. “I really enjoy being a role model for young women,” she says.
> Find the right fit
Participating in an activity you have little interest in could actually have a negative impact on your reputation, Kemp says. Your detachment may become transparent to others and they may question your motivations.
Identifying the right volunteering opportunity means understanding your strengths and values as an individual, and evaluating how they align with the community activity at hand.
And before signing on, determine how much commitment is required.
“I made sure the time commitment wouldn’t take away from my business,” says Kemp, who coaches two evenings per week and attends occasional tournaments.
> Don’t be afraid to say no
Community organizations and clients may approach you to make a monetary donation to a charity or to donate time to a cause. “As entrepreneurs, we often get asked to be involved in many things,” Kemp says.
Kemp considers requests for donations from clients based on the client’s level of involvement with her firm. In the case of requests for volunteer work, she considers whether it reflects her passion.
You shouldn’t feel compelled to fulfil every request. Gauge for yourself whether the activity makes sense for you. If you wish to turn down an opportunity, do so through a respectful, timely response.
Photo copyright: mangostock/123RF