Forbes recently published an article by Michael Mayes, CEO of Quantum 9 Cannabis Consulting. Mayes took the opportunity to write about cannabis business best practices. It has been a dream for Mayes to offer Forbes cannabis business advice to entrepreneurs.
Mayes recounts the proud moment:
“It is super challenging to get an article published in Forbes. I can’t tell you how many ideas I have pitched and full articles I have written that they didn’t pick up. Over the last few weeks, I feel like I have something to say, passionately. It is with great honor I had my second article published with Forbes only two weeks apart. This article focuses on the upside of down.”
In the Forbes article, Mayes gives cannabis business owners three steps to take during trying times. The coronavirus has made business difficult for everyone. Mayes wrote his article in hopes that it could give cannabis business owners some hope.
Step 1: Refining Your Cannabis Business Policy
Slowing down doesn’t mean stopping, it means finetuning
Mayes doesn’t see the virus as a means of stopping his cannabis consulting business. Rather, he sees it as an opportunity to work out the kinks, so to speak. For example, a slowed business may give business owners more time to assess current processes. This means finding out where there may be problems in everyday business functioning and having time to address those issues.
Mayes makes the point that the slowing business due to the virus is a great chance for optimization. Mayes encourages cannabis business owners to document specific tasks for each employee. Furthermore, Mayes notes how important it is to see how you can improve those tasks to enhance the business experience for clients.
Another tip Mayes had for increasing optimization was creating manuals and accountability charts. Visual charts and manuals are helpful tools for employees to refer to when business picks back up again. In this way, a boss is able to provide their employees with everything they need so they can optimize their business functions in the future.
Step 2: Taking Online Classes
Use the extra time you have to learn new skills to apply to your business
Knowledge is power, and Michael Mayes knows this all too well. When business feels slow, taking an online class is a great way to improve or brush up on your skills. It’s also a great time to consider your employees and the skills they bring to the table.
Do you have an employee with great skills that simply need fine-tuning? Now is the best time to give that employee the opportunity to do so via an online class. Online classes tend to be fairly affordable and can be done on your or your employees’ schedule. Most importantly, the benefits of taking an online class could be the change your cannabis business needed.
Step 3: Refreshing Your Brand
Take the extra time to invest in improved marketing materials for your business
Marketing is one of the most important aspects of modern-day business. Mayes did some searching in his cannabis consulting company. He asked himself how updated his resources are, how he could update things that were outdated, and what merchandise his budget may allow at the time. In other words, internal analysis is key for optimization across the board.
Think about what you may need to update moving forward. Are your business cards out of date? Does your website or Instagram need sprucing up? Would you like to try a new marketing campaign? Now may just be the time to do those things!
Lastly, Michael notes that it is not easy to respond to a crisis. The coronavirus has been an unprecedented event, and many employers are finding these times to be extremely difficult. It is important to remember that all bad things come to an end. There’s always a light at the end of the tunnel!
Related to Forbes Cannabis Business Advice:
Forbes Council: Cannabis Consultant
Great information! Would love to see this plan implemented into many different types of businesses!
Thank you! We have applied this plan internally at Quantum 9, and encourage others to do the same.