Sandy Weill’s Advice to Aspiring Philanthropists
October 12, 2006 | Read Time: 1 minute
“Picking one’s spots in the philanthropic world should be a personal matter; however, I’d recommend
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some principles for how business leaders might become engaged.
“First, it’s important to make long-term commitments and accordingly select causes where one’s passion will last.
“Second, one should look for organizations that can benefit from one’s business expertise or relationships. Business executives typically excel at setting a vision and getting others to follow; therefore, institutions that are open to change in direction may be particularly fertile ground for involvement.
“Third, the person that runs the organization should be one that inspires confidence and who is open to strong cooperative partnerships with active board members.
“Finally, I believe it’s essential to concentrate one’s efforts on a manageable set of activities in order to maximize impact. Many people make the mistake of spreading themselves too thinly in their philanthropic or civic involvements — usually, both they and their chosen institutions suffer as a result.”
— From The Real Deal: My Life in Business and Philanthropy, by Sandy Weill and Judah S. Kraushaar. Copyright 2006 by Sanford I. Weill. Reprinted by permission of Warner Business Books (New York). All rights reserved.
