5 Best Ways Startups Can Reduce Promotion Costs

5 Best Ways Startups Can Reduce Promotion Costs

It takes a lot of effort and determination to launch your own startup and survive through the hardships of the initial stages of entrepreneurship. You need to cover your basic expenses in order to keep your business rolling, but on the other hand, you also need resources to promote and brand your product. Basically, you’re expected to spend 20-25% of your total budget on marketing during your first year, and this might be just enough for those who took a good bite of some kind of venture capital or were lucky enough to find an angel investor. But for bootstrappers with a very limited budget, this can leave their business with a fairly modest amount of money to spend on promotion. Here are some tips on how to make your marketing both efficient and affordable at the same time.

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How to Retain Employees from Quitting After Merger or Acquisition

How to Retain Employees from Quitting After Merger or Acquisition

As a business owner, going through a merger or acquisition (M&A) spells out a whole world of possibilities for your company. This exciting time can even spell the actualization of a goal in your long-term business plan. However, for your employees, the feeling may not translate in the same way.

It’s common for your team, especially if you’re the company being acquired, to feel insecurity and stress during this time. At this point, a lot is going through their minds. For one, there will be changes in their work environment, coupled with the need to adjust to new working conditions. 

There will undoubtedly be new policies and rules that they will have to follow, some of which may not be what they signed up for when they agreed to work for you, like salary adjustments or work time parameters.

There’s also having to endure two separate workplace cultures and being uncertain about the company’s future. These don’t sound enticing to a person who wants a stable livelihood to pay the bills and support his/her family. 

That said, it’s understandable why a lot would consider jumping ship before the M&A takes place. Unfortunately, this results in a loss of great talent—people who are integral to your company processes and growth.

Losing an employee hurts your business. It takes around one to two years for a new hire to match the productivity rate of an existing employee. Therefore, you need to come up with an employee retention program, so your team won’t flee during a delicate time in the company. Here are a few tips on how you can avoid them from quitting.

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7 Out-Of-The Box Strategies to Improve Your Business

7 Out-Of-The Box Strategies to Improve Your Business

Did you know the yellow arrow in the Amazon logo is more than just a decorative swoosh? It represents the message that the brand sells everything, from A to Z (the arrow connecting the two letters). To talk about another interesting fact, Baskin Robbins, in the year 2005, launched a new brand identity where the number “31” is created by the pink portion of the ice cream retailer’s two initials “B” and “R”. 

This is what creative ideas do to businesses.  They boost sales, enhance brand value, determine recall factors, and more. Now that you have launched a business successfully, you must be looking for ways to expand your customer base. 

Here are the seven best practices that will take your business to the epitome of success in terms of client acquisition, retention and ROI. 

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