The CBD industry is growing competitive against other CBD products. Here are some reasons why many CBD companies fail in this competitive market.
1. They Aren’t Committed to Their Business
Whether you’re selling CBD or another product, you need to be all-in on your business. There’s being committed, and then there’s being 100% fully committed. You can’t throw your arms up in the air when you face struggles.
2. They’re Spending Time on the Wrong Things
Many business owners are busy, but not spending their time on anything that’s making them money. Ninety percent of your time should be spent marketing your business, not fulfilling orders. Many business owners try to save money on help, but they’re hurting their business’ growth over these small savings.
3. They’ve Overly Anal
There’s one company that has made countless refinements to their labels over a year. While little things matter, sometimes you can’t overanalyze everything. Refine once you’re life.
4. They’re Penny-Conscious and Dollar-Foolish
Pretend you want to make $100,000 per year working 40 hours per week. Then, your hourly rate will be $48 per hour. If you don’t spend your time doing things that will make you $48 per hour, you will never reach that annual goal.
5. They Have No Sense of Urgency
You should feel urgent about everything that comes up. Get in the game and hit the ground running with this growing industry.
6. They Don’t Educate Themselves
Many business owners are aware of the benefits of CBD. Stop educating yourself on CBD and learn about being a business owner. Educate yourself on business aspects like marketing and finances.
7. They Build Websites That Don’t Build Trust
We make an opinion of a website in less than 2/100th of a second. If a website looks low budget with stock photography, a customer might not be able to decipher what the website is selling. Don’t build the site yourself unless you have an eye for design. Leave the website design to a professional.
8. They Don’t Understand Marketing
If you don’t have a good understanding of marketing, you’re going to stall. Either hire experts or educate yourself. Look at other businesses and follow their lead.
9. They Have No Marketing Budget
Many people spend a lot of money on products and leave nothing behind for marketing. Then, they’re stuck with products they can’t sell. Spend half the amount on product and more on spreading the word about your brand.
10. They Don’t Select a Niche
You can’t target everybody. Build rapport with people by connecting with them. Learn who your audience is. Choose and market products that they want. Don’t get caught up in trying to make everyone happy. Make your niche audience happy.
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About Joy Organics
Joy Organics was created with a clear initiative: to develop Premium THC-Free Broad Spectrum CBD Products through innovation and excellence, with service to match. Joy Organics is the world’s premier line of family-friendly CBD products. We aim to take charge of the CBD industry with radical transparency and the highest quality hemp oil products.
Our wholesale program is designed to allow retail businesses, healthcare professionals and independent entrepreneurs to capitalize on the rapidly growing CBD market by offering the Joy Organics line CBD Products. Our Private Label CBD Partnership Program allows you to build a loyal customer base under your own private label.
We want to not only provide the highest quality CBD products on the market and also to give you all the information we have so you are educated and knowledgeable.
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