Blog

How to Determine Key Sectors for Your Business

Published

4 years ago

April 20, 2020

There’s no doubt that the coronavirus outbreak has already had a dramatic impact on the economy in the UK (and indeed across the globe), with the nation’s GDP expected to fall by a staggering 35% during the second quarter of 2020 alone.

With consumer confidence and spending also plummeting, businesses are expected to lay off a further two million employees nationwide in the coming weeks, exacerbating the economic decline and creating a long way back for afflicted firms.

To minimise the impact of such economic ruin, it’s imperative that companies are able to determine critical success factors and ensuring these are met in the short and medium-term. But what is a critical success factor, and how can you identify those that are most relevant to you?

What is a Critical Success Factor?

In simple terms, a critical success factor (which may be abbreviated to CSF in some instances) is a high-level goal or strategic objective that’s central to a company’s success.

As you can imagine, the nature of critical success factors varies from one industry to another, although there are universal examples such as financial prudence, product development and long-term cost management.

Such factors will not only help to distinguish successful from failing businesses, but they will also have a direct impact on profitability and a company’s true growth potential within a specified time period.

How to Determine Critical Success Factors

1. Create a Collaborative Approach When Tacking CSFs

Before you do anything else, it’s important to knit together a skilled and team that will be focused on CSFs.

This should involve both high-level executives and regular employees, with a view to providing strong and guided leadership that remains focused on achieving the core objective.

A collaborative approach is definitely recommended here, particularly as many CSFs are relatively complex and can be difficult to achieve over time. At the same time, there may be a number of different elements to high-level CSFs, so they’d be impossible to achieve without the input of executives and teamwork between different departments.

2. Engage Employees by Asking for Their Feedback

When achieving CSFs, it’s easy to overlook the hard work of employees and the key roles that they play in driving attainment.

This can create a degree of apathy amongst entry-level and less senior colleagues, which can in turn impact negatively on morale and drive a decline in productivity.

To avoid this issue, we’d recommend that you engage your employees and ask for their own CSFs and the best methods in which to achieve them.

Not only will this create a higher level of engagement and boost the quality of collaboration, but it also has the potential to improve operational processes over time.

3. Make Sure That You Have the Right Funding

Most commercial objectives require cash to fully realise, but the way in which you source investment and secure funding has a huge impact on the attainment of CSFs.

More specifically, it’s important to optimise capital while minimising debt, which is a delicate balance to strike in any business climate.

One great idea is to create a single-strategy portfolio that’s highly focused and overseen by experienced fund managers.

This has the potential to deliver sizeable, long-term gains, which is central to the sustainable success of any venture.

Blog

6 Reasons to Try Cannabis Edibles

Published

9 months ago

February 21, 2023

Jimmy Lerner

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.