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Watch This Video Before Starting Your CBD Business Plan PDF!

Checklist for Starting a CBD Business: Essential Ingredients for Success

If you are thinking about going into business, it is imperative that you watch this video first! it will take you by the hand and walk you through each and every phase of starting a business. It features all the essential aspects you must consider BEFORE you start a CBD business. This will allow you to predict problems before they happen and keep you from losing your shirt on dog business ideas. Ignore it at your own peril!

For more insightful videos visit our Small Business and Management Skills YouTube Chanel.

Here’s Your Free CBD Business Plan DOC

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Free Book for You: How to Start a Business from Scratch (PDF)

A Step by Step Guide to Starting a Small Business
This is a practical manual in a PDF format, that will walk you step by step through all the essential phases of starting your CBD business. The book is packed with guides, worksheets and checklists. These strategies are absolutely crucial to your business' success yet are simple and easy to apply.

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https://www.bizmove.com/free-pdf-download/how-to-start-a-business.pdf

Coaching Your Staff

For the owner-manager, delegation does not end with good control. It involves coaching as well, because management ability is not acquired automatically. You have to teach it.

Just as important, you have to keep your managers informed just as you would be if you were doing their jobs. Part of your job is to see that they get the facts they need for making their decisions.

You should be certain that you convey your thinking when you coach your assistants. Sometimes words can be inconsistent with your thoughts. Ask questions to make sure the listener understands your meanings. In other words, delegation can only be effective when you have good communications.

And above all, listen. Many owner-managers get so involved in what they are saying or are going to say next, that they do not listen to the other person. In coaching a person so he or she can improve, it is important to tell why you give the instruction. When a person knows the reason, he or she is better able to supervise.

Allow Staff to Work

Sometimes you find yourself involved in many operational details even though you do everything that is necessary for delegating responsibility. In spite of defining authority, delegating to competent persons, spelling out the delegation, keeping control, and coaching, you are still burdened with detailed work. Why? Usually, you have failed to do one vital things. You have refused to stand back and let the wheels turn.

If you are to make delegation work, you must allow your managers freedom to do things their way. You and the company are in trouble if you try to measure your assistants by whether or not they do a particular task exactly as you would do it. They should be judged by their results - not their methods.

No two persons react exactly the same in every situation. Be prepared to see some action taken differently from the way in which you would do it even though your policies are well defined. Of course, if an assistant strays too far from policy, you need to bring him or her back into line. You cannot afford second-guessing.

You should also keep in mind that when an owner-manager second-guesses assistants, you risk destroying their self-confidence. If the assistant does not run his or her department to your satisfaction and if his or her department to your satisfaction and if his or her shortcomings cannot be overcome, then replace that person. But when results prove his or her effectiveness, it is good practice to avoid picking at each move he or she makes.

Effective Supervisory Practices

If an employee's job satisfies his or her needs, the employee re­sponds more favorably to the job. This may happen, for example, when an employee is given the responsibility for managing the office on his or her own, and is recognized for doing it well. Or it may occur when a sales representative is assigned full responsibility for developing new business as well as maintaining existing customers in a territory and is recognized for the accom­plishment. Such employees tend to take their responsibilities seriously, act positively for the firm, and are absent from work only rarely.

The key point is that when a job satisfies needs, the employee may bring greater commitment to the job. Some needs common to all individuals are basics like food, shelter, and security for the future. Normally a fair wage level and a feeling of security that the job will continue, tend to satisfy these needs. Such needs, however, can be satisfied in most jobs today, and they do not alone evoke heavy commitment by employees to your firm.

Other needs must also be satisfied. Most of these are related to:

a. The firm's personnel practices such as complaint handling or vacation scheduling

b. Working conditions

c. Supervisory practices such as discipline, or the way instructions are given, and

d. Total compensation, including benefits practices.

If what the firm provides in any of these aspects is seen by the employees as much poorer than what other firms in the area provide, dissatisfactions will result.  On the other hand, improvements above an acceptable level generally do not bring about greater employee commitment in the long run.

For example, total disregard for employee complaints (personnel practices) can lead to serious problems for the firm.  When em­ployee complaints are handled well, serious problems tend to be precluded from developing but there is no major gain in deep em­ployee commitment to the job.

What then does bring about a serious commitment to the job and firm?

There are five factors that generally cause a deep commitment to job performance for most employees. These are:

1. The work itself - to what extent does the employee see the work as meaningful and worthwhile?

2. Achievement - how much opportunity is there for the employee to accomplish tasks that are seen as a reasonable challenge?

3. Responsibility - to what extent does the employee have assignment and the authority necessary to take care of a significant function of the organization?

4. Recognition - to what extent is the employee aware of how highly other people value the contributions made by the employee?

5. Advancement - how much opportunity is there for the employee to assume greater responsibilities in the firm?

These five factors tend to satisfy certain critical needs of in­dividuals:

One need is the feeling of being accepted as part of the firm's work-team.

Another need is for feeling important - that the employee's strengths, capabilities and contributions are known and valued highly.

A third need is for the chance to continue to grow and be­come a more fully functioning person.

If the kinds of needs just described are met by paying attention to the five factors previously listed, an owner/manager will have taken significant steps toward gaining the full commitment of employees to job performance. To do this, several practical strategies can be used, such as:

Establishing confidence and trust with your employees through open communication and the development of sensitivity to employee needs

Allowing employees participation in decision-making which directly affects them

Helping employees to set their own work methods and work goals, as much as possible

Praising and rewarding good work as clearly and promptly as inadequate performance is mentioned

Restructuring jobs to be challenging and interesting by giving increased responsibilities and independence to those who want it, and who can handle it

 

 

As Soon as You have Determined what Kind of business you want to Begin and The investment requirements, you are ready to decide on
a location. The amount of competitive companies already in the area should affect your choice of location. Many regions are
overloaded with service stations or particular types of restaurants. Check on the number of your kind of company from Census
figures, the yellow pages, or by personally checking out the place.

Factors Aside from the Possible market, availability of employees And number of aggressive companies have to be considered in
selecting a location. For example, how adequate are utilities - sewer, water, electricity, gas? Parking facilities? Fire and fire
protection? What about housing and environmental things such as colleges, cultural and community actions for workers? What is the
average price of this location in rents and taxes? Assess on zoning regulations. Assess the business of the neighborhood
business-people, the aggressiveness of civic organizations. In short, what's the city soul? Such factors should give you a clue to
the city or city's future.

Chambers of Commerce and nearby universities usually have created or Are familiar with local surveys that may provide answers to
these questions and the a number of other questions that will happen to you.

Next you have to decide in what part of city to locate. If the city is Very little and you're establishing service or retail
business, there'll probably be little option. Just one shopping area is present. Cities have outlying shopping facilities along
with the central dining area, and stores spring up along principal thoroughfares and neighborhood streets.

Consider the shopping centre. It's different from other locations. The shopping center building is pre-planned as a merchandising
unit. The website has been deliberately selected by a programmer. On-site parking is a frequent feature. Clients may drive in,
park and do their buying in relative safety and speed. Some centers provide weather protection. Such amenities make the shopping
centre a valuable location.

There are also some limitations you should know about. As a tenant, You become a part of a merchant group and must pay your pro
rata share of their budget. You must keep shop hours, light your windows, and place your signs based on established rules. Many
communities have restrictions on evidence and the center management may have additional limitations. What's more, if you are
thinking about a shopping center for your first store you could have an additional problem. Developers and owners of shopping
centers look for successful retailers.

The kind and Wide Range of merchandise that you carry helps determine the Type of purchasing place you choose. By way of example,
clothing shops, jewelry stores and department stores are more likely to be more prosperous in shopping districts. On the flip
side, grocery stores, drug stores, filling stations, and bakeries usually do better on principal thoroughfares and local streets
beyond the shopping districts. Some sorts of shops customarily pay a low rent per square foot, while others cover a high rent. At
the"low" class are furniture, grocery and hardware stores. At the"large" are cigar, medication, women's furnishings, and
department stores. There's no hard and fast rule, however it is helpful to see in what type of place a store like yours most often
appears to flourish.

After determining an area ideal for your type of business, Obtain as many details as possible about it. Examine the competition.
How many similar companies are located nearby? What does their sales volume seem to be? If you are establishing a shop or service
transaction, how far do people come to exchange in the area? Are the traffic patterns favorable? If most of your customers will be
local inhabitants, study the population trends of the area. Is population increasing, stationary or decreasing? Are the people
native-born, mixed or mostly foreign? Are fresh cultural groups coming in? Are they mostly laborers, clerks, executives or retired
men? Are they all ages or principally retired, middle aged, or young? Judge purchasing power by checking average house rental,
typical property taxation, number of telephones, number of cars and, even if the figure can be obtained, per capita income. Larger
shopping facilities have this sort of information available, and will ensure it is available to serious potential tenants.

Zoning ordinances, parking availability, transport facilities And natural obstacles - such as bridges and hills - are important
considerations in locating any sorts of company. Possible sources for this information are Chambers of Commerce, trade
associations, real estate businesses, local newspapers, banks, city officials, neighborhood retailers and personal observation. If
the Bureau of the Census has developed census tract information to the specific area in which you are interested you'll find this
especially valuable. A census tract is a small, permanently established, geographical place within a big city and its environs.
The Census Bureau provides population and housing characteristics for each tract. This information could be valuable in measuring
your marketplace or service potential.

Choosing the actual site in a area might well be taking what you May get. Very few buildings or plants will be suitable and in
precisely the exact same time, accessible. If you do have an option, be sure to consider the chances carefully.

For a manufacturing plant, think about the condition and suitability Of the building, transport, parking facilities, and also the
type of lease. For A store or service establishment, assess on the nearest competition, traffic Flow, parking facilities, road
location, physical aspects of the construction, Kind of rental and cost, and the speed, cost and quality of transportation. Also
Investigate the history of the site. Find answers to these questions as: Has the Building remained vacant for any length of time?
Why? Have various types of Stores occupied it for brief periods? It may have proved unprofitable for them. Websites on which many
businesses have failed should be avoided. Vacant buildings Don't attract traffic and are usually regarded as poor neighbors,
therefore check on nearby unoccupied buildings.

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