Posts

What Are The Benefits Of 3D Printing?

StrategyDriven Managing Your Business Article | What Are The Benefits Of 3D Printing?

These days, more businesses across a huge assortment of industries are embracing the process of 3D printing. This is because of the many different advantages that it possesses. With that being said, in this blog post, we are going to explore all of the benefits in further depth to help you get a better understanding.

3D printing is rapid

There is only one place to begin when it comes to the benefits that are associated with 3D printing, and this is the fact that it is rapid. Rapid prototyping provides you with the ability to design, test, and manufactured a customized part in a small amount of time. Plus, if required, you can modify the design without the speed of the manufacturing process being adversely impacted.

Great flexibility

Not only does 3D printing deliver rapid speed, but it is also incredibly flexible as well. You can create virtually anything with a 3D printer. On the flip side, if you were to use a traditional manufacturing process, every new part of every change within a part design would demand a new jig, die, mould, or tool to be manufactured for the creation of the new part.

Sustainability

In addition to the points so far, with 3D printing, you do not need to outsource as many parts for outsourcing. This means that the environmental impact is lower because fewer things are being sent around the world and there is not any requirement for an energy-consuming factory to be maintained.

Reduce risk

By switching to 3D printing, you are also going to be able to lower the risk involved with the manufacturing process as well. This is because product designers are going to be able to verify product prototypes before they begin making significant investments in manufacturing that can be disastrous.

High levels of quality

Aside from the benefits that have been discussed so far, you can also expect high levels of quality when it comes to 3D printing. Poor designs can arise through traditional approaches to manufacturing. However, the way that 3D printing works mean that the assembly is a step-by-step process, which ensures the design is improved and that you benefit from an exceptional level of quality.

You can reduce expenses with 3D printing

In addition to the suggestions that have been discussed so far, 3D printing is also great for those who are looking to lower their costs when it comes to production. 3D printing is deemed one of the most cost-efficient manufacturing options. Injection moulding and CNC machining, which are more traditional approaches, demand a big number of costly machines, and the labour expenses tend to be a lot higher as well. Therefore, you can expect to save a considerable amount of money by making the switch to 3D printing.

So there you have it: an insight into some of the different benefits that are associated with 3D printing. We hope that this has helped you to get a better understanding of why 3D printing is so beneficial and how you can make the most of it in your business.

How to Grow Your Dispensary Business

StrategyDriven Managing Your Business Article | How to Grow Your Dispensary BusinessYou are reading this article because you are probably intrigued about what a dispensary SOP is, or you are trying to find a way to improve your current model. The only thing that matters is that you are taking the necessary initiative to get things done and ensure the future success of your business needs. If you are a beginner who isn’t quite certain about the world of dispensary SOP’s, then it is best to start by establishing its meaning. A dispensary SOP is a shortened name for Dispensary Standard Operating Procedures PDF which is the most significant document that is unique to each business because it sets out specific outlines, procedures, and regulations particularly in the cannabis industry. Even though it can be a complex document to formulate, it is the most effective document that you need to ensure that your business’ resources are managed adequately.

What Is A SOP? 

A well-thought-out and professional dispensary SOP will benefit you with acquiring your license but it is the main building block towards your success in dispensary marketing. A strong dispensary marketing strategy will elevate your cannabis business and ensure that it ranks highly because the dispensary SOP provides a step by step manual that guarantees an understanding of the core areas of the business that require standard operating procedures. This is why it is important to establish a dispensary SOP that your employees and management can understand.

What To Cover 

When establishing a dispensary SOP for a cannabis business, you ought to have a detailed assessment of how your business will be able to cover these areas.

Security

The potential for theft and other related illegal activities is high when dealing with large amounts of money. The types of security measures need to be considered alongside the state requirements.

Quality Assurance

Your dispensary SOP needs to detail how it will maneuver environmental, sanitation, and inspection factors. Adequate testing has to be conducted by any of the licensed cannabis testing facilities.

Packaging and Labeling

States have different laws regulating how cannabis products should be packaged and labeled, particularly where products could be exposed to the youth. Safeguarding measures are necessary for children.

Inventory Control

This is also known as “track and trace” in some states. Strict inventory management is a necessity to outline the procedures of handling and storage.

Storage

It is generally separated into the storing of records and cannabis products. Licenses and any required documents need to be stored in a secure place that will enable authorities to see them when requested.

Cash Handling

This needs to be addressed to avoid any potential fraud allegations. Strict practices are necessary for a dispensary SOP.

Making Your Business Known

Once you have compiled an efficient dispensary SOP that covers every area of your business including your founding values, vision, and mission the next thing that you need to concern yourself with is to devise a quality and innovative dispensary marketing strategy. The industry is highly competitive and with more countries relaxing their strict laws around the sale and purchase of cannabis it will become more saturated. This is why it is important to come up with a dispensary marketing plan that can adapt to the current digital age. The advertising laws in this industry are still strict and it makes it a challenge to advertise cannabis freely. Moreover, cannabis is still classified as a Class 1 drug, as a result, dispensary marketing is a major challenge. If your adverts are not being removed from advertising channels, they are too costly for most businesses to afford. As a result of these problems, most businesses have opted to use practical and less costly methods to improve their dispensary marketing challenges – direct mail, mass SMS, and email. However, mass SMS seems to be the most effective option of these three methods of advertising.

Word of Advice 

If you still feel like you don’t quite understand how dispensary SOP documents work or feel as though you might struggle coming up with a unique dispensary marketing campaign, then you can enlist the services of a company that will assist you to come up with great ideas to improve your business to be world-class standard and compete with industry giants.

How to Prepare Your Business for International Expansion

StrategyDriven Managing Your Business Article | How to Prepare Your Business for International ExpansionInternational expansion can be a big step for any business, no matter its size. It can bring plenty of benefits to a company – a whole new array of potential customers and the opportunity to operate in a less saturated market. However, it does come with risks – expanding is expensive and you’ll be operating in unfamiliar territory. What can you do to prepare for international expansion?

Market Research

Before you begin to think about expanding overseas, you need to understand the new area, and who you’re selling to. Market research is a vital tool for success. You need to have a firm knowledge of the country’s culture, how your customers think, and if your brand would succeed there. To get a firm understanding of the region you’re aiming to expand in, you need to spend some time there. For example, if you’re hoping to operate in the States, you can stay in a serviced apartment in New York to help guide your research and develop your understanding of the market.

Understand Your Capabilities

You need to assess whether international expansion is the right step for your business at this current time. You need to ensure the company is strong and secure in its current market. Venturing abroad won’t help if the business is already struggling. How are your finances? Review your budget and make sure you can afford to invest in international expansion. Expanding your business should help its success, not further hinder its funds. You also need to assess your company’s infrastructure and whether it would work abroad.

Delivering Goods

When it comes to shipping packages you need to understand a variety of global regulations. These can differ from country to country, so you need to ensure your packages are labelled properly depending on when they’re being shipped. Plus, take into account shipping times as well. You want to ensure effective delivery service and customer satisfaction in whichever country you’re operating in. Research courier systems and see which ones could benefit your business the most.

Right Team

Take due diligence with selecting your team members. Whether you’re intending on opening an office abroad or hiring remote workers – spend plenty of time considering who is right for the role. Hiring within the international market comes with pros and cons. You have got access to people who know the culture but potentially lack experience and vice-versa. There is a solution to this. Research countries that have a lot of professionals within your line of work, then you can hire new staff with ease. Your team will have a drastic impact on future success so don’t rush your decisions.

International expansion offers incredible opportunities for a growing business, but it is not a decision that should be taken lightly. Do everything you can to ensure your company is prepared. Have you had any experience with international expansion in the past?

How Your Business Can Become Christmas-Proof

As we draw closer to the festive season, business owners need to be wary of the holiday rush. Just because the world has been in lockdown for so long, doesn’t mean that you can take your foot off the gas. All market indicators are showing that we will, in fact, see the same old surge around the festive season, despite most customers not shopping in-person. Online shopping dictates everything, and for the most part, has done so for the better part of a decade. But, with this comes new and old challenges, as every business needs to be sharp and ready in inventory management, sales, marketing, customer service, and invoices. This is how you can keep your business up and running, without backlogs and hiccups during the holiday rush.

StrategyDriven Managing Your Business Article | How Your Business Can Become Christmas-Proof

Conduct a health risk assessment

In a risk assessment, you’re not just calculating the health and safety risks, but also the threats to your business. Customers and staff are equally as important, don’t forget this! As the number of cases rises in the Coronavirus, the threat of spreading occurring in your business rises too. This is why whether you’re still working in the office or working from home, you should take the same precautions or have precautions in place. Here’s what you need to do safety-wise.

  • Determine whether any activities you have to do, could promote transmission? Do you work in the office alongside employees? How can everyone avoid getting the virus? Wear masks, have hand sanitizer bottles on the desks, and keep airflow strong in the office.
  • Your workers in warehouses and or production plants need to take similar precautions. They should also be wearing protective gloves if they can, and making sure that they are aware of tight spaces, gathering and a lack of airflow.
  • Determine how likely you can control a spread if it occurs. Do you have a track and trace system you can use? Can you give employees sick pay, to keep them at home? Can you ask them to work from home if they do strike positive for the virus?

Analyze the competition

Alongside your own desires as a business, you need to study and know your competition. For example, you should be keeping tabs on your rivals, seeing what kind of marketing ploys they have, what kind of sales, discounts and deals they are offering, as well as what kind of products they are going to be selling alongside yours. In the latter, you need to know the pricing, quality and branding efficacy, etc.

Some rivals will be pitching to your consumer base, comparing your prices and your products to their own, openly in ads. You must be wary of this. Many retail companies will literally show a product you sell and compare the price of the same or similar product they sell, in an ad. How do you fight back against this? You must be ready for your rivals to do this beforehand!

Increase your storage capacity

The only thing worse than being caught out by a rival, is catching yourself out. This occurs during the festive season more than any other time of year. Small businesses don’t plan ahead concerning their capacity for inventory management. What if you need to have a large storage capacity because sales are much higher than anticipated? You can carry on the Christmas rush over to New Year’s and beyond if you are wise.

That’s why you should consider building one of these custom industrial sheds. These metal structures can withstand any weather, they provide ample room for lots of stock storage, as well as being very easy and quick to erect. Such an industrial shed can be the perfect way to expand your business and reach. If you have export needs as well as domestic sales, but you need more storage space, this is the kind of affordable option entrepreneurs and small business owners should try.

Segment your base

Every single company in the world has a consumer base. These are people that love your brand, they keep coming back, they buy products you make and they will hold your brand in very high regard among your competitors. But you must know who they are, what kinds of individual groups there are and how to market to them.

Your base will have the following types of groups.

  • Veterans. These are consumers who have been with you for years and always check to see if you sell something they want, every other week or month.
  • Loyal consumers. These are people who will put you in their top 5 companies to buy from when they are looking for products in the categories you sell.
  • The new and enthused. The types of customers that have just found out about and are wondering what on earth took them so long. They will be excited to see what you have to offer as opposed to the companies they have always bought from.

Get ready for rules changes

We live in a Covid-19 world now, and the government can change the rules at any moment. Rather than wait for this to happen, you should have plans in place that give you leeway no matter what kind of changes occur.

This again, requires a risk assessment, because you need to know what your options are. Evaluate the following.

  • Tunnel sales. If your country goes into lockdown, can you still make export sales? Can you still make sales to other business clients?
  • Plan your most drastic sales and discount offers. If worst comes to worst and the market begins to freeze up again, consider what kind of sales you can offer to break even at the least and make a little profit at the most.
  • Work with governments. Engage with the representatives and respond to calls and emails. Accept invitations for consultancies and express your concerns to the elected officials.

The festive season is always a rush and hectic time for consumers as well as businesses. While you still have time, make as many positive changes as you can. With these measures, you should be able to proudly call your business Christmas-proof.

How To Choose The Perfect Outsourced Media Service Provider For Your Business

StrategyDriven Managing Your Business Article | How To Choose The Perfect Outsourced Media Service Provider For Your BusinessRunning a business comes with many pressing responsibilities, and if firms are not careful, they can get buried under them all before long.

It’s also a difficult economic landscape out there, as businesses find themselves short on time and options both. That’s why it’s important to work the right way, with strong B2B relationships and effective outsourcing strategies. That way, your company can devote its attention elsewhere, focusing on the core processes that jettison you forward into a prosperous future.

For example, a media service provider can have an enormous positive influence over your operations. But how do you choose the right one? You can find out for yourself below.

Outline Your Needs

In the interests of both time and efficiency, start by acutely defining exactly what you want, because only then can you choose the right media service provider to outsource to.

Avoid vague terms and generalisations, and where possible leave no room for interpretation. Do you want access to intricate user analytics? Maybe you want somebody to focus on the laborious tech and logistics side of things, while you focus on getting creative with your content? B2B relationships can’t thrive on guessing games and constant back and forth questioning to get from point A to point B, so it’s important to define the level of collaboration you expect.

Remember, the primary purpose of outsourcing in any area is to reduce costs and boost efficiency, and only with clear and concise communication is that possible. The media service provider must actually provide, and if multiple parties are having difficulty understanding one another, then multiple roadblocks will start getting in the way. Know where you stand, and then you’ll know who you need.

Expert Service

If you know exactly what you want, then it becomes much easier to identify who can give you the service you crave.

Employing the services of the best in the business is a sure-fire way to make some quick progress. For example, it’s well worth considering the OTT services of Red Bee Media. On their secure white label OTT platform, they enable you to monetize your content to the fullest, all while providing you access to in-depth customer data so that you can more sensitively tailor your service. It’s an intricate outsourcing service that explores every avenue possible, omitting no details. The more thorough the service, the better.

Running a business can be incredibly stressful, but with expert help comes peace of mind. Recognising your limitations is not admitting defeat, but instead a critical management strategy that will impact everything else positively. It’s best that everything runs at maximum efficiency with specialist help than at half capacity without, so seize the opportunity!

Recommendations, Awards, Reviews

Researching the reputation of an outsourced business isn’t a genius idea, but you need to know what to look for to do it properly.

For media service providers, look to see if they’re accredited with awards from prestigious tech bodies, or if they have a prolific portfolio of other clients. If in doubt, check their social media pages, and see what waves they’re making there. A positive work history is required for those you’re outsourcing to, so make sure you authenticate their services any way you can.

Referrals and recommendations will undoubtedly help you choose the perfect outsourced media service provider for your business. Confide in your network of contacts, and ask for a referral or opinion on the provider you’re considering. In the end, those who amass negative reputations don’t stick around for long in any industry, so you should devote a considerable amount to ensure you’re working with those of repute. That way, there’s no nasty surprises, and a trusting working relationship can be created straight away.