strategy Archives - RuhaniRabin.com

The Essentials of Starting Your Solar Energy Business (Cost-Effectively)

November 3, 2020

The world is turning to more sustainable energy sources at a faster pace, thus making solar energy startups an even more appealing prospect for future business owners, especially the ones with a love for all things green. Merely decades ago, the production, installation, and maintenance of solar panels were far more expensive and virtually impossible to implement by regular households or even smaller businesses. Nowadays, not only are we speeding toward far more practical, simpler options, but they are getting more affordable by the minute.

If you are looking to start your own company in this realm, as much as the demand is getting higher, there are still certain aspects of this industry that are very specific and need your attention before you kick-start your business. Let’s take a look at a few vital steps you’ll need to take before you can launch your solar-energy business, and go over the best ways to keep it as cost-effective as possible!

5 Best Ways Startups Can Reduce Promotion Costs

August 17, 2020

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.

How to Retain Employees from Quitting After Merger or Acquisition

June 26, 2020

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.