If you are trying to draw a list of all the possible events that could ruin a business – stop! You cannot possibly comprehend every bit of events that have the potential to ruin your business because such list would be innumerable, and sometimes those events you didn’t even envisage turn out to be the last straw that breaks the camel’s back for your business. However, that is not to say there are no common pitfalls that could lead your business to disaster. Many businesses collapse as a result common, preventable issues such as improper planning, unforeseen circumstances, and poor debt advice, to mention a few. This is why we’ve drawn a list of some common pitfalls that have the potential of ruining your business if allowed.
This is one of the most prevalent issues facing businesses globally. And it has been the undoing of so many businesses. Irrespective of whether you are a start-up or an on-going business, capital remains a fundamental element of any business, which means it could make or mar your brand. In order for your business to function well, you need capital, and a sufficient amount of it. It is even advisable to sometimes halt your business idea if you don’t have the right funding to sustain it yet. As part of your business planning, you should always have a clear insight to where your sponsorship and financing would come from. Sometimes, you might have to embrace debt funding in order to finance a new product or start a new project. There is nothing wrong in this as long as it would provide your business with the required amount of capital. And if peradventure you are unable to fulfill your debt repayment obligations, you can turn to an insolvency practitioner to help you with the best IVA.
POOR GROWTH SPEED
This is another common pitfall that has destabilized many businesses. As an entrepreneur, it is important for you to monitor and control your business growth speed, so that you don’t grow too fast when you don’t have the resources to sustain such growth, and vice versa. Growing too fast presents its own set of problems such as inability to meet demands, workers being overused, and resources being worn out, while growing too slow results in low sales, low returns, and poor ROI. Hence, you need to be sure your business is growing at a sustainable rate, and if not, you should employ the right strategies to either slow down the growth rate or raise it.
It is important for every business to understand the effect of having competitors around. This means making decisions, taking steps, and coming up with ideas that continually beat or match your competitors. As an entrepreneur, the biggest damage you can do to your business is to underestimate the power of competition. In this light, you need to keep a eye on the market, and be sure your competitors aren’t rolling you over with new pricing, new designs, and better offers. There are many strategies to deal with competitions and the onus is on you, as an entrepreneur, to find the right one for your business. Should your competitors reduce the prices of their goods, you can come up with improved products rather than lowering your prices too. This is a strategy to make the consumers appreciate what you are offering, so that they can see value in whatever they are paying for your products.
Intra-organizational conflict is the greatest weapon of destruction that could strike a business organization, which is why you need to ensure you deal with every forms of discordance within your business. Internal strife can tear a business department or the whole organization apart, if not handled with care and caution. As an entrepreneur, you need to ensure there is unity amongst your employees, and there are no signs of grudge or dissatisfactions within any group in your business. Many business owners act indifferently to conflicts within their organization with the belief that they are not concerned. However, what these types of entrepreneurs fail to understand is that a rift between two is a rift between all, and the disputes between few employees could escalate into more pronounced ones if not properly managed.
The last but not the least pitfall is the over-reliance of a business on one thing. Some businesses depend so much on a highly valuable customer, and a favorable environmental condition, while some depend on a very talented or experienced worker. It is utterly wrong for you, as an entrepreneur to base you business success on one thing or one singular factor because while a cherished customer could opt out, a favorable environmental condition could change too. By and large, you need to cut your business from over-relying on any factor, and you can do this by having some contingent plans to prepare your business for the worst case scenario.
6 Reasons to Try Cannabis Edibles
Are you looking for a reason to try cannabis edibles? If you’re wondering if there are benefits to edibles that you can’t get with other forms of cannabis, the answer is yes. Here are some of the best reasons to try cannabis edibles.
- Some edibles are boosted
When you smoke cannabis flower, you’re only getting cannabis. That’s not a bad thing, but there are brands that sell edibles that have been boosted with other ingredients. For instance, you’ve probably seen capsules with added herbs to help you sleep – the same is true for edibles.
One of the newer enhanced cannabis edibles are the Bits adaptogen-boosted edibles. These new cannabis edibles contain just 5mg of THC per Bit so you don’t overdo anything. Each flavor is packed with a unique blend of adaptogens like ashwagandha, reishi, elderflower, lemon balm, ginseng, guarana, and rose hip.
Why adaptogens? Adaptogens have been proven to have a positive impact on the central nervous system by decreasing sensitivity to stressors. In other words, adaptogens reduce stress and anxiety and contribute to an overall sense of wellbeing. When you consume cannabis edibles boosted by adaptogens, you’re going to feel more relaxed.
- Edibles provide precise and consistent dosing
One of the best reasons to try edibles is for precise and consistent dosing. When edibles are made, the cannabis is thoroughly and evenly mixed in, so each serving has the intended dosage when the final product is made. In addition, premium cannabis brands like Verano lab test each batch to ensure quality and consistency with all of their products, including cannabis edibles.
When you smoke flower, you won’t always get the same amount of THC. It’s nearly impossible to know how much THC or CBD you’re getting from smoking flower. Even when you smoke the same strain in the same amount, the THC and other cannabinoids are distributed unevenly throughout each bud.
If precise and consistent dosing is important to you, then edibles are going to be your favorite cannabis delivery method.
- Edibles are tasty
Edibles taste good, so why not try them? It’s just like eating a snack or a treat, but with a purpose. If you’ve avoided trying cannabis tinctures or oil because you don’t like the flavor, that’s understandable. Edibles are different because the taste of cannabis itself can be easily masked.
Brands go out of their way to come up with recipes that taste good because they know some people don’t like the strong flavor of cannabis. Edibles like brownies, cookies, and chocolate bars usually just taste like any other cookie, brownie, or chocolate bar. Premium cannabis brands will also use quality ingredients to produce the best cannabis-infused gummies, hard candies, and baked goods.
- Edibles are easy to carry
If you want to carry your cannabis around discreetly, that’s easiest with edibles. They usually come in smaller packages that you can fit into a pocket or bag, and edibles are easy to eat without anyone suspecting you’re consuming cannabis.
When carrying edibles, be smart about where you bring them. Make sure you know where you can and can’t have them. If you’re headed to the airport of a government building, for example, you’ll want to leave your edibles at home.
- The effects of edibles last for a long time
Smoking flower is great when you need relief quickly, but when you want the effects to last a long time, edibles are your best option. When you ingest cannabis, it takes longer for the effects to kick in, but those effects will last for a much longer time. You also don’t need to consume as much cannabis to get these long-lasting effects.
Everyone is different, and the timing depends on a multitude of factors like our metabolism and whether you’ve eaten or have an empty stomach. However, in general, it takes between 30 minutes and 4 hours to start feeling the effects of edibles. From there, the effects can last a few hours or even up to twelve hours. This is why many people take edibles before going to bed – getting that full impact while they sleep makes them wake up feeling incredibly rested.
- Edibles are a great alternative to smoking
Although smoking cannabis is probably the most popular consumption method, it’s not for everyone. Edibles won’t expose you to the potentially harmful effects of smoking. If you’ve been avoiding trying cannabis because you thought you had to smoke it, edibles are the perfect opportunity for you to try cannabis.
Already familiar with edibles? Try something new
If you’ve been consuming cannabis edibles for a while, maybe it’s time to try something new. If you’ve always been into baked goods, branch out and try some beverages, chocolate bars, or even an adaptogen-boosted cannabis gummy for example. There are plenty of edibles to choose from so you can be sure you’ll find something new that you can enjoy.
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