The document summarizes Namaste Solar, a renewable energy company founded in Nepal in 2008. It discusses the company's founding by Black Jones, who had a vision of establishing a renewable energy firm. It then covers Namaste Solar building its team over several years, establishing an employee ownership model, and facing challenges around rapid growth that led to investment offers from outside firms. The document concludes by outlining Namaste Solar's deliberations over whether to remain fully employee-owned or pursue partial or full ownership by outside investors.

1. NAMASTÈ SOLAR
Team members – Sri Ganesh, Sangita, Vel Vikram, Gokul

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3. Introduction
 Year 2008.
 “Green renovation”
 Black Jones – vision ( Renewable energy company)
 Why Nepal…
 (Learned things right the first time)
 Namaste Solar.
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4. Opportunity …
 RES IN 2004
 Purchase of 10% supply of electricity by 2015 from
renewable energy.
 Jones-business planning ,Kennedy-technical design
& installation activities ,tuomey-marketing
 Decentralization, risk & rewards
 Incorporated in feb 2005
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5. BUILDING A TEAM
 Recruitment was a challenge.
 This business was growing.
 Very less experienced people.
 Cheaper one is to go and pirate employees from
other companies.
 (skill + philosophy)= good fit.
 Important thing – Long term commitment.
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6. Cntd.,
 Minimum 5 years for commitment towards job.
 “Amazing group of people”
 First 4 years – grew with 55 people with
extraordinary high retention…
 2008.. Kennedy left &
 Salary structured changed from 2 tier to 10 tier wage
scale.
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7. Employee ownership
 Critical part of vision is – a strategy for attraction and
retaining employees – commitment to employee
ownership.
 All employees have equal opportunities to buy
shares..
 Employees ho left need to sell back shares…
 Goal – to pay out departing stockholders quickly.
 2008 – 37 employees(22/3 rd of total) held equity in
the firm.
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8. Organizational mission values and culture..
 Mission.
 Benefits all stakeholders equally –
customers, employees, investors, communities and
the environment.
 Care for the
earth, customer, community, company, ourselves.
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9. BPM
 A Process called Big Picture Meetings
 Discussion of the issues facing by the company
 Expected to attend and encourage to participate
 Diverse Perspective will have better chance of
Optimal solution
 More People you bring in, the more creative you get.
 Companies strove for FOH
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10. From Consensus to Delegation
 Decision making was by Consensus.
 Consensus means everybody must give a thumps
up.
 Later changed the process to consent.
 Logo Decision without BPM review
 BPM continued to deal with some issues as a group.
It delegated others to specific teams or commitees.
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11. From Consensus to Delegation
 Governed by five-person board of director.
 Each year 3 directors were elected so board
turnover was rapid.
 All shareholders were eligible to vote for members of
the board
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12. Investment offers:
 By 2008, Namaste solar become the largest solar
electricity company in Colorado.
 Customer referrals and repeat customers.
 Target was to earn revenue of more than US$ 14
million.
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13. Cntd.,
 Company growing at a breakneck pace.
 Colorado ranked 4th in installed capacity.
 Competition from national and local firms.
 Venture capital and private equity firms acquired
stakes from competitors.
 Jones felt pressure.
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14. Cntd.,
 Jones getting telephone calls.
 “It was like, that’s 5 times what we were internally
valuing our company at.”
 Burnout and Overload.
 Wes’s departure.
 In mid 2008, 2 firms emerged as serious bidders.
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15. Sitting in the Crucible
 Three options were narrowed down.
 Path A- “ sell the whole kit and caboodle”
 Path B- Hybrid(partial ownership)
 Path C- 100 percent employee owned
 Path A and B would bring fresh infusion o capital
 “Investors would supply that”
 Big fish gobbling up the small fish
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16. Cntd.,
 For employees the matter was more personal:
- lots of money
- less stressful jobs
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17. Fears
 Loss of control
 Grant program would be stopped
 Loss of family feeling
 Lack of support for “holistic profit”
 No guarantee for path B
 Resistance to change
 Fox recalled, path C “too idealistic”
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18. Conclusion…
“ Let’s just sit in the crucible, sit in the fire a little bit
longer until we are able to make the right decision.”
“ we won’t look back and regret.”
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19. Questions….
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