There has been an increase in the number of states that are legalizing recreational and medical marijuana. This has seen the unprecedented growth of a totally new industry with a lot of opportunities. If you’re thinking about opening up a marijuana dispensary, this post is for you. It should be noted that opening such a business is not a walk in the park. There will be a lot of hard work needed to get it off the ground. The whole process will need to be taken seriously if you’re to be successful. Here are some tips that will come in handy if you’re looking to open a marijuana dispensary.
There is a lot of hypocrisy that surrounds the use of marijuana and you might only come to realize the full extent when you start a business in the industry. What a lot of people don’t know is that alcohol is far worse and addictive than the use of marijuana. For you to be successful with a marijuana dispensary, you’ll also need to assess your commitment. Being Mike’s World Wide Inc. Distributor | Wholesaler is just one part of the puzzle. There are a lot of moving parts that you’ll need to figure out even before the business can become operational. You’re likely to get burnt out if you’re starting the business solely for financial reasons. It could take a while before you start seeing any gains and there should be a motivating reason for getting in the business.
Just as with any other business, doing research is imperative. A good example is with payments for your marijuana dispensary business. Not a lot of processors will be willing to provide their services for such a business even in states where the use of recreational marijuana has been legalized. You’ll also need to study the legalization requirements in your state and what is expected of such a business. The last thing you’d want to do is to run into trouble with the law when operating a marijuana dispensary. Since there are a lot of rules to adhere to, it is recommended that you’re getting a lawyer as you could be walking on a thin line.
Finding a Rental Property
You need to get a property that is compliant with state laws. Depending on where you live, there are strict compliance requirements that will need to be met. The dispensary should not be near a church, school, or residential area. These laws are ever-changing and it is vital that you’re up to date with the requirements in your state. You’ll also need to be upfront with the landlord about your plans with the property because not all of them will allow a tenant to open a marijuana dispensary.
Have a Business Plan
The medical marijuana industry has become saturated in a short period of time. In order to stand out, it is important that you’re doing things professionally. A good business plan will separate you from the competition. You need to have a thorough understanding of what you’re getting yourself into.
The business plan should highlight how you’ll be getting the capital. This perhaps the biggest hurdle you’ll have to overcome before starting the business. The many barriers to entry mean that you’ll need a lot more money before the business can be operational. The fact there is a lot more competition doesn’t make it any better. Marijuana is still illegal at the federal level and it will be impossible to get a bank loan to finance the business.
When you open a marijuana dispensary, you’ll not only be competing against other legitimate businesses but also those that are unlicensed. Law enforcement might not be too bothered about unlicensed operators, especially in states where the use of marijuana is legal. It can be difficult to compete against such providers who are available 24/7 and offer low prices because the quality of their products is not guaranteed.
The process to get licensed to operate a marijuana dispensary is one that is complex and expensive. You could spend up to $5000 in legal fees in order to get the operating license. In addition to getting the license, you’ll also need to figure out where you’ll be sourcing your products. There are different forms of marijuana that you can sell. All that is required is that the products are meeting the required safety standards. You can research wholesale medical marijuana providers to make your work easy.
How to Sell Yourself to Consumers
In past months, digital technology has been an increasingly important component of many businesses’ overall marketing plan. There is also a significant uptick in mobile app ads as a result of this recent trend.
Furthermore, mobile users account for a large amount of global internet traffic, and this number is only expected to rise. As customers increasingly use their mobile devices to communicate with their favorite brands, advertisers must monitor mobile marketing trends in order to stay current and competitive. Here’s how to use the app to market you to customers.
Clips from Apps
App clips are a popular mobile marketing method for increasing consumer retention. They are a significant component of today’s digital advertising and data collection practices.
Automation of Mobile Ads
Mobile ad automation has effectively increased revenues by reducing advertising spending, printing costs, and interference costs. There was a time where advertisements had to be managed every hour that they were on.
Advertisers can now conveniently scale their campaigns thanks to AI-enabled ad automation.
App add-ons are another great option to market yourself to customers with an app. For example a link that you can add to your social networking profile that would guide users to a content page that contains all of your other related material.
Content for Mobile Devices
Given the popularity of sites like Twitter in the present youth culture, it’s a safe bet that businesses are producing more mobile content. Anticipate an uptick in content that is reliant on mobile devices.
This is highly likely that the amount of young people is growing into a large sector, and advertisers must communicate with them in places where they spend a lot of time.
Chatbots are more useful today since many people operate from home. Bots help users get rapid feedback by doing everything from making automated phone calls to answering questions on social networks and blogs.
On that note, additional apps will be developed to alert customers of the need to buy as well as to notify them about tempting discounts and promotions.
Platforms for E-Commerce
It is no longer a mystery that the pandemic has resulted in an increase in global e-commerce activity. Retail stores have been affected, with the majority of them turning to the internet to make ends meet. This will lead to more competition on the interactive side of the industry. You can connect with more customers online using ecommerce now.
Structured data can be used to monitor SEO in the future. Consider structured data fragments to be excellent investments for any who choose to appear on the first few pages of search engine results. Google Search is becoming more complex, and you’d need to keep up with studying the markup and ensuring that each page has detailed, structured material that informs the search rankings for any part of the article.
Voice Search on Mobile
The use of speech quest and voice management will be strengthened in the future. With many more home electronic devices, more people are still dependent on speech to navigate search results and responses.
The number will grow in the near future as more people buy these devices for their homes and continue to use them on their cell phones.
Although push reminders may be annoying when utilized incorrectly, more businesses are likely to integrate them into their communication strategies.
If more and more discussions take place online, especially on mobile devices, push notifications may provide timely updates and other content in addition to marketing information.
Mobile Content That Is Optimized
To attain conversions, mobile marketing, like every other form of marketing, requires interesting insight. You can’t sell to consumers unless you can encourage and motivate them to interact with your product.
Mobile marketers should focus on delivering higher-quality content, such as interactive alternatives. Customers of electronic devices are drawn in by creative ads.
A Guide to Affordable Short-term Disability Insurance
Living in this chaotic world requires a bit of attention to be safe. Insurance plays an important role in safeguarding our interests in bad times. Affordable short-term disability insurance policies are also one of that kind. Disability insurance is a type of insurance that offers financial assistance when you are no longer able to earn money. Usually, people are forced into such a situation when they have survived some accident or they are suffering from a disease. In both of those cases, people need more money than usual because they are living with an ongoing health issue.
And you already know that the medical expenses are quite high as compared to any other expense in our lives. Even if you have health insurance, you can’t get all the benefits when you are unable to pay the premiums. Being jobless with high medical expenses can make you unable to pay for your health insurance. All of these problems can be solved if you have disability insurance.
What is disability insurance?
Becoming aware of the problems that you may face in your life may put your mind in a state to find the solutions. Disability insurance is a solution to all these issues. It is an insurance policy that starts covering your income expenses when you become unable to work. And this single financial help is able to solve almost all of your problems related to financial shortage.
When you are in a situation like that because of some disease or injury, you need more money as compared to the normal times. With a proper insurance policy and a little bit of modification in your lifestyle, you can very easily make it through this situation.
But choosing the right insurance is not so easy task. As there is a large number of companies that are offering such plans, normal people are usually confused about which one to choose. In this article, we are going to give you some tips on choosing affordable short-term disability insurance. Here are some tips that you should follow in order to get the best one.
Tips on getting an affordable short-term disability insurance
No matter how many companies or any other confusing factors are there, if you stick to the list of your requirements, you can very easily end up getting the best disability insurance for you. Keeping these points in mind will help you achieve that.
Choose the company based on your profession
This is how you should start finding a company for your disability insurance. Every job has its risks and expenses. Finding the right policy requires you to consider this factor. You should look for a company that offers the best services for your profession.
Avoid adding too many riders
Riders are a type of add-ons that you can choose in order to get more benefits from the insurance. Several riders come without any cost while there are others that charge some money. When you add too many riders like that, you are simply increasing the money that will be paid in each premium. And this factor is enough to make your disability insurance hard to afford.
Try to get insurance with a long elimination period
This is another important thing to consider here. The elimination period is the amount of time you have to wait after being disabled in order to get the benefits. The insurance policies that come with a small elimination period are often costly. But those policies that offer longer elimination period come with lower premium rates. So, choosing the duration of elimination period in a wise manner is very important for getting affordable short-term disability insurance
Outsourced customer service team from A to Z
An outsourced customer service team is responsible for processing customers’ requests. We have described almost everything you should know about outsourced customer service and how it works in our alphabetical list.
A customer support agent is a critical person that provides communication between the customer and the company. Outsourced customer support agents should have enough information to handle all requests, transfer them to responsible team members when needed, etc. Also, customer support agents should be polite and calm even if the customer behaves differently.
The Brand is one of the main and most important things customer support works with. The way how customers treat the brand depends on the way customer support agents work.
Building strong communications is an essential skill of each customer support team. According to research, 90% of users highly appreciate a good customer service level and consider the provider of goods and services.
Sometimes call centers may experience so-called downtimes. It means that customers can’t reach the call center due to some technical or other problems. In this case, outsourced customer service should inform the company about occurred issues ASAP and solve them. When the connection works again, customer service agents have to call all the customers who tried to reach them during the downtime back.
An outsourced customer service team contacts different people every day. And without empathy, it would just not be possible. Search for customer agents ready to hear people who reach them, understand their problems, and try to solve them. Companies with engaged customer support teams may expect up to 140% better results than the competitors.
Frequently asked questions or FAQs are helpful not only for customers but for an outsourced customer support team. Good knowledge of crucial answers may increase a vital FCRR (First Contact Resolution Rate) index . It shows how many requests a customer support team resolves during a single conversation.
In companies that practice a creative approach, customer support is even more interesting. To motivate customer support agents to perform better, they offer different bonuses and marks. For example, a medal for the happiest customer or certificate to the most productive agent. When you choose an outsourced customer service team, ask whether they use gamification in their processes. If yes, this is a good sign.
The main advantage of collaboration with an outsourced customer support team is an opportunity to save money. You may be charged according to different systems and schedules. But it will be, with high possibility, a “pay for hours” approach.
A customer support team may work in-house or inside a particular company as a separate department. The company has to organize all processes, pay compensation, and check the results. An outsourced customer service team takes over these tasks and involves the company only when it comes to reports, issues, or exchanging information.
Sometimes customer support agents, as other technical specialists, use professional jargon in their conversations. But for customers such words are unacceptable. All information a customer support agent shares with a customer has to be clear and understandable.
A knowledge base is information that customer support agents should use in their work. It’s useful when a customer needs some specific or step-by-step guidance. If you collaborate with an outsourced customer support team, you should provide it with a detailed knowledge base regarding your product or service.
The company and supplier should discuss legal aspects of collaboration beforehand. Study the contract carefully and don’t hesitate to ask any questions. Clarify the possibility of the trial period, NDA (Non-disclosure agreement).
Outsourced customer support means receiving calls and responding to emails, messages, chats, etc. It’s called multi-channel support.
The effectiveness of customer support should be measured and estimated. That helps avoid severe mistakes and identify whether customers are satisfied with the service or not. It is essential in outsourced customer support when the client company can not influence all the processes. Check your Net Promoter Score (NPS) constantly. This index shows a general level of customers’ satisfaction and loyalty.
An outsourced customer support team gets a lot of calls and messages every day. It’s easy to get lost in the data. Not to lose anything crucial, customer support agents add all info in CRM and tickets. Open tickets mean that the customer’s problem is not yet solved and needs attention.
The main task of customer support is to respond to customers’ requests. So just wait until customers contact the agents. But during the last few years, it has become popular to use proactive customer support. That means that call center agents reach customers themselves and help them deal with problems even before they occur. It will surprise the customers but provide them with the feeling that the company cares about them.
Outsourced customer support needs quality assurance (QA). This process should be fulfilled by the provider of the customer support services. It includes checking the quality of work, responding speed, and other parameters.
One of the main reasons why companies outsource customer support is increasing revenue. And it works. Companies that actively implement customer support in their processes have 4-8% higher income than other businesses on the market.
Quality support is another reason why companies prefer to outsource these functionalities. A customer support department inside the company may be expensive and unproductive. A professional outsourced customer support team will, with high possibility, provide better results.
Telemarketing is one of the services offered by an outsourced customer support team. Customer support agents call potential customers and attract their attention to the products or services of the particular company.
User error is one of the top requests an outsourced customer service team has to deal with. The majority of these errors may be fixed easily with a couple of steps, and others need special attention.
A customer service team is the voice of the brand. It has to be friendly and polite. Customer support agents should communicate with customers in a business manner but use particular positive words that may help slow down the conversation when needed or avoid customers’ aggressive reactions.
A company website should include complete customer support contact information. It should be reachable and understandable. If you have multiple channels of support (calls, emails, chats, etc.), mention them on the website.
Customer support agents sometimes have to work in total stress due to a high amount of calls or other reasons. That’s why it’s necessary to rest after work, recharge the batteries and avoid burnout. Customer agents need a kind of zen for being positive and effective. That’s why their work is so important.
Kydrid Industries Changes Its Name To Avenue BPM
This statement is to address all of our clients, contractors and fellow Calgarians.
Ever since we originally started our garage door repair and overhead door tech company, our team has been proud to provide exceptional service to Calgary and its surrounding areas. In 2014, we started with a handful of staff who offered a few select services. After years of hard work and consistency we have since been able to grow our company to offer a full suite of services tailored towards the commercial property management industry.
As of March 2021, we have changed our name from Kydrid Industries to Avenue BPM. We feel this name embodies our company better. Our name change did not come easy but is a more accurate representation of the direction we are headed towards.
Our clients can rest assured knowing that the quality of our services will maintain its level of excellence. This change is only a name change and is a step forward into the future.
A Few Of The Key Services That We Offer
Avenue BPM provides a total of 9 services in Calgary. However we felt that it would be important to highlight three of our key services: overhead door maintenance, entry door maintenance and fences.
Over Head Door Maintenance
As one of our original services, we can guarantee that you will be taken care of and provided the highest level of service when you choose us for your overhead door maintenance. We have been providing outstanding service in this area for 7 years. Whether you need an installation, door replacement or door opener repair, our team has seen it all and is ready to help you.
Entry Door Maintenance
Entrance doors are areas of commercial buildings that generally take the most abuse. They are some of the most commonly used parts of a building so it will come as no surprise that without regular inspection they are subject to breaking. You can prevent an expensive replacement by ensuring you get regular inspections from our team at Avenue BPM.
Fences and Security Gates
Whether you need a fence for security or just as a border for your business or commercial area, we have you covered. Our team provides a wide array of chain link fences, fences with privacy gates and slats, powder coated fences and fences with additional security features as required.
Five Hedge Fund Industry Trends in 2021
We are off to an interesting year which will hopefully be much better and more stable for everyone than the last one. As we aim to rebuild what was lost and move forward in the year 2021, the important question is where the necessary funds will go to. Investment decisions will be as crucial for the markets as ever. Thus the key hedge fund industry trends will be closely watched by everyone in business and finance. Below is the forecast of which trends are going to continue strong in 2021 and shape the hedge fund industry for years to come.
Hedging the risks
The initial idea behind hedge funds is to design an investment strategy that would be virtually immune to losing money. This is done by combining long-term strategies with short selling ones, hedging the risks in a way that investors are supposed to come out on top regardless of the changes in market conditions.
However, unfortunately, it is not that simple. Hedge funds can still fail due to unforeseen circumstances and sometimes such failures are of staggering magnitude. And as the industries grow and global markets open up, there is an increasing variety of different events that might cause unforeseen fluctuations in the market.
Therefore, the forecasting abilities of investment analysts also need to be strengthened to catch up with the markets and reduce risks. This necessity is a strong driving force behind the trends in the hedge fund industry that currently dominate and will continue to rise.
Additionally, investment funds are generally always interested in technological innovation as this has been proven throughout the years to be one of the main forces generating advantages over the competition. Thus, hedge funds and financial firms will be looking into emerging possibilities to adapt and adopt new technologies for increased efficiency and better results.
Five trends to look out for in 2021
The year is now well on its way so we can identify the tendencies in the hedge fund industry that stand out. Most of the actions of investment firms come as no surprise as they go in the same direction where the industry has been moving for the better part of 21st century thus far.
Here are the five clear trends that will define 2021 for hedge funds and are likely to continue strong throughout the decade.
1) Alternative data. This is the trend that has pretty much defined this century and especially the last decade. There was a time when hedge funds have been using a rather limited amount and types of data that mostly came directly from industry sources. That time is gone and unlikely to ever return. Now financial firms utilize all kinds of data from alternative sources to enhance decision making. And as data-producing technology will rise with more and more sensors created every year, alternative data will remain a key trend in the industry.
2) Data-driven recruitment. Financial firms have been utilizing data-driven hiring strategies to increase hiring efficiency and quality of hires. Data-driven recruitment is set to rise in usage in hedge funds as it has shown favorable results thus far, proving to improve the hiring experience both for HR and the candidates.
3) Machine learning. Related to the above, machine learning is the key feature of artificial intelligence that hedge funds have been very interested in. And as the last year has shown significant improvements in the technology even to the point where black swan events are not as huge a problem as it used to be for AI, the ability of algorithms to learn on their will certainly be continuously utilized to build investment models and make predictions. Of course, this will reinforce the necessity of alternative data as algorithms are being trained through constant data analysis.
4) Environmental, social, and governance investing. Socially responsible investing is gaining momentum as it is clearer than ever that every investment choice also matters on a bigger level. Thus, hedge funds will continue to evaluate their investment strategies not only by direct returns but also by the long-term effects they have on the environment and society.
5) Automation of procedures. The drive towards automation is a general trend not only of this century but of the last one as well. However, now as AI is capable of doing more than before, it has become possible to automate a lot of daily procedures in the hedge fund, including some managerial tasks, directing how employees engage with the clients.
Summing up: investing and AI
As we can see, all the foreseeable trends point to the fact that AI and data analysis will, for a large part, define the investment industry in the future. This does not mean that there will be no place left for humans in hedge funds. Rather it means that their task s will be different and more connected to handling data and using AI. Therefore, cooperation between people and technology is something hedge fund managers will work on for years to come.
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