How To Ethically GENERATE INCOME During Times Of Crisis
When a tragedy strikes–whether it be a hurricane, earthquake, overflow, terrorist assault, or some other devastating event–many businesses are wanting to volunteer and assist those in need. They want to help rebuild the broken homes and businesses, plus they often contribute the necessary materials and manpower to take action. Unfortunately, the resources that are earned on the volunteer and donation basis typically go out much sooner than expected.
A great exemplory case of this is exactly what happened in Port Charlotte, Florida after hurricane Charley. After the hurricane Initially, a lot of companies went to the certain area, donating services, products, and other things had a need to repair the city. The government also came in and paid many of the rebuild bills, even things not covered by FEMA normally. But then the money started to go out, and the majority of the volunteers went home.
The funny thing would be that the residents of Port Charlotte didn’t want the contractors to leave and could have paid the contractors their normal rate to stay and complete the catastrophe recovery efforts. However the contractors–those who were on the volunteer basis–felt guilty taking money from disaster victims there. Now, 2 yrs later, many Port Charlotte residents are seeking reputable contractors to help them still. It’s an unfortunate situation it doesn’t have to happen. Perhaps even more regarding is that we’re needs to visit a similar development in the individuals and companies that assist with disaster preparedness.
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Recently the Annals of Emergency Medicine, one of the biggest emergency medicine journals, published an editorial targeted specifically at colleges which were profiting from selling classes developed under grant dollars. That’s, they created catastrophe preparedness materials using federal grant money, and they made neighborhoods and clinics pay to get the course materials.
So does which means that it is possible to profit from a tragedy situation and not feel guilty? When it comes to profiting from disaster, most people think of price gouging or profiteering. Price gouging isn’t only immoral and unethical, however in every state and every territory, it is also illegal. It’s a criminal act where you’re taking advantage of individuals who have no choice but to pay. When hurricane Katrina strike New Orleans, we noticed examples of unscrupulous store owners offering generators (that normally retailed for a couple of hundred dollars) for just two and three thousand dollars.
All those people received prison time or fines, and their business license was revoked. Such people aren’t seeking to profit from disaster; they’re seeking to benefit from misery. There are three ethical ways to generate income after a disaster essentially. 1. Volunteer and Donation. In this scenario you volunteer your time and contribute your products. You cover all your own costs and accept nothing in exchange, apart from perhaps food and lodging.
In come back for your time and effort and materials, you get the warm fuzzy feeling to do something best for the community. You become a day to day hero. If you are visible during this time, additionally you get great promotion, which could lead to business down the road from those who keep in mind your good deed.
2. Discounted Services. This is the most typical scenario, and just as the name implies, this means that you offer your products and/or services to the community at a reduced rate. Those who choose to go this route figure out how low they can price something without the decision being a burden on the business. Realize, though, that nobody in the community requested the discount (although none of them will change the discount down either).
Often, the business owner gives the discount because he or she has some level of altruism. 3. A HIGH PRICE. In this scenario, you come into the grouped community and bet a fair market price for something or service, comparative to how many other companies would charge during non-disaster times approximately. And because it’s fair selling price, people are more than happy to pay it. This is moral and honest completely. Unfortunately, few businesses make the transition to full fare after getting started as a volunteer. But if you really want to grow your business and profit from disaster, this is actually the way to go. Just how will a business make the transition from a volunteer to a paid expert or service provider?
Be upfront. State how you will offer your products or services for free long. You’re already there, and now you’re making money. If they state “no,” then they’re taking responsibility because of their own recovery. At that point, you can go back home and tend to your business, understanding that you’ve done a good deed.