Mission accomplished! You’ve got a Cannabis License! Now what? Whether your plans involve cultivation, processing, or retail, there’s still a lot to do before you can operate a successful licensed cannabis business. As you probably already know, the cannabis industry has a lot of complicated and strict regulations that can hold up progress. We know profitability is at the forefront of any business endeavor, but sustainability is crucial if you want to remain successful over time.
Here at XOverture, we’ve put together a list of the Top 5 “Must Dos” for launching a Licensed Cannabis Business:
Hire a Managed Service Provider with Cannabis Business Experience
Incorporating IT can be a daunting and complicated process. Hiring a managed IT security and service provider not only ensures that your tech solution is effective and up-to-date, but it also guarantees that your setup is compliant with state laws. Make it a priority to do your research and hire a comprehensive service provider that is highly experienced in developing IT solutions specifically for cannabis businesses. The last thing you want is to be fined or shut down due to noncompliance.
XOverture has helped develop, launch, and implement IT solutions for cannabis businesses throughout the U.S. and Canada.
Leave IT Management to Professionals
From sales software selection to security system setup, IT management can be a tedious and complex job. There are a lot of things to consider with a licensed cannabis business and you’ll want to consult a professional service that specializes in IT and security implementation and management. Each business has unique requirements and there is no “one-size-fits-all” solution.
Most states mandate that efficient CCTV systems be setup without any lags. This requires cameras, NVRs, and a data backup tools that may require several terabytes of storage per day. For the majority of people, implementing this type of security system is beyond their area of expertise. Companies like XOverture provide comprehensive solutions that can be tailored to your specific business needs.
Our managed IT services cover everything from security and compliance to data storage, rapid scaling, and demanding deadlines. We specialize in the development, launching, implementation, and management of customized IT solutions which are designed to take the tech-related stress off of your hands so you can focus on the million other things you’ve got going on.
We’ll leave the cannabis cultivation to you, but we suggest you leave IT to us.
Develop a Plan that can Scale-Up
As a licensed cannabis business owner, you should always be prepared for growth. Lucky for you, you’ve entered the market at a prime time. The cannabis industry is estimated to grow from $7.7 billion to $31.4 billion by 2021. Imagine what that could mean for profitability in the next two years if your business is prepared to expand and adapt quickly.
So how exactly do you set yourself up for success in this competitive market? From day one, you should implement a business plan that has the ability to scale up at a moment’s notice. This includes software, hardware, and everything else IT related. Of course, you don’t want to pay for more than you need and we understand that. But, how exactly do you plan for change that hasn’t happened yet?
You guessed it: A managed IT security and technology service.
A comprehensive service provider like XOverture can develop a personalized plan that fits your current business needs, but has the capability to seamlessly scale up when your business inevitably requires change. Because, let’s face it, cannabis is an ever-evolving and rapidly-growing industry. We can help you plan now for change later.
Invest in the Right Technology
We all know what it’s like to try and save money on something only to have it backfire and ultimately paying more in the end. Cutting corners never works out and, when it comes to technology, you definitely don’t want to compromise quality.
Investing in an all-inclusive tech solution is crucial and can save you from additional expenses and stress down the road. State regulations vary by state, but no matter where your cannabis business is located, you’ll undoubtedly be required to track everything from seed to sale. You’ll need to keep strict records and protect all data from corruption, theft, backup failure, and noncompliance. Data breaches happen regularly and the cannabis industry is becoming a larger target. Don’t risk a setback by incompetent technology or ineffective security.
Whether you have questions about replicating store designs, selecting CCTV cameras, or need information on POS systems, XOverture has the answers. We can provide the hardware and software to suit your personal licensed cannabis business. We believe you should never settle for less than the best and we’ll never try to sell you on stuff you don’t need.
Implement an Efficient Inventory Management System
No business wants to incur loss–especially from things that are easily avoidable. Missing stock is one of the top reasons businesses experience loss. Fortunately, it’s also one of the easiest to correct and manage. Tracking inventory doesn’t have to be complicated if you implement an efficient management system. This requires setting up a reliable software solution that tracks stock and supervises its delivery from manufacturer to warehouse to point of sale.
Don’t let your budget take a hit because of missing buds.
Read Also: Five Ultimate Benefits of Managed IT Services
XOverture: Your Licensed Cannabis Business IT Partner
Just as the quality of the cannabis you sell relies heavily on the planting of the initial seed, the success of your business is determined by how you cultivate it from day one. The fruit of your labor is dependent on the quality of the harvest.
The year 2019 is upon us and a well-articulated strategy with actionable items need to be clear for achieving the end goal: success! Organizations relying heavily on Information Technology need to think about agile solutions to drive their business. IT specialists have a mammoth task to keep up with the latest offerings that are being made available. With a plethora of latest applications, IT services, and policies available, it may be challenging to integrate new tools and services. However, the important services can never be underestimated. Let’s look at what businesses should do in 2019 to improve their IT.
2019 Business Resolutions for IT and Security.
The importance of data maintenance and security can never be overemphasized. Losing data is as good as losing business. Data backup has been a field with constant improvements and advancements. In 2018, we have come across many high-profile data breaches in major industries, including banking sectors, government organizations, and we also saw the resulting damage businesses have had to endure. As a result, even small to medium businesses have joined major organizations in taking backup and storage more seriously. Proactive IT specialists can plan on secured backup hardware and software to help safeguard the data integrity of an organization. • Backup! Then backup your backup • Use secure backup hardware and software
Millions of people used services in 2018 that experienced data breaches that revealed sensitive data and personal identifiers. Major organizations that suffered attacks this year included Facebook (social media), Saks Fifth Avenue (fashion industry), Sacramento Bee (news industry), which shows us that no industry is immune from cyber attacks. The list of cyber attacks in 2018 is a long one, and we have only mentioned a few of the major data breaches. What can you do differently in 2019 for your IT and security? Be proactive and never take any loophole for granted. Hackers are persistent and innovative in their approach and even big organizations are falling victims to even the most minor loophole or vulnerability. Companies should never take cybersecurity for granted. • Invest in cybersecurity • Keep your employees informed about best practices for cyber security • Don’t wait for an attack…prepare in advance • Make sure you have closed all the loopholes to your network
Scalability, reliability, and functionality are some of the deciding factors when doing cloud migration. There are several benefits in a cloud migration but there are risks as well. IT teams should have a complete overview on whether the benefits outweigh risks. For that, it is important to take several factors into consideration such as the nature of the business, the data being migrated, users, security restrictions, etc. For modern industries, cloud migration has become one of the most important strategic initiatives. • Create a proper plan for migration. Consider the benefits, the risks, and cost. • Migrate to the cloud and train the users on best practices to be efficient • Monitor your cloud use and identify ways to optimize your cloud usage.
Keep Up with the Pace: Educate yourself
Almost every industry is aligning their focus towards becoming technology reliant. To have a competitive edge, tech teams and managed IT service providers need to educate themselves with the latest technology and trends. Remember…businesses are looking for tools and services that make their work processes easier and more efficient. The information technology trends that you mastered a couple of years ago may have become redundant or outdated. Prepare in 2019…learn, learn, and keep learning modern and futuristic technology. When you educate yourself with the latest, you will be able to recommend the same to your customer and add value to the process. Keeping yourself and your employees educated on a consistent basis will help you keep a competitive edge, and IT businesses can stay relevant in providing top-notch IT solutions with education and training too.
Low priority for 2019
Next year is all about making the best use of the latest software, hardware, network, and security features. You may not know everything about the cloud, email migration, cybersecurity, or backups. However, experienced managed service providers should have the expertise to provide top-notch services in these domains. Spending time on R&D may only postpone strategic implementation of the most efficient software, applications or IT services for your organization. So rather than trying R&D on a crucial technology domain for your organization, it is best to delegate the task to experienced professionals. Outsource some of the IT tasks and services to Managed Service Providers so that you can spend more time focusing on keeping the organization up to date with the latest technology, or on your business’s core competencies. Spend time in understanding how a specific technology or service can help your organization function efficiently and partner with experienced MSPs to handle the technicalities.
XOverture is a technology firm providing strategic, secure, and scalable information technology services to a variety of industries. Our technical expertise, coupled with our suite of services, assists businesses in scaling up in their growth cycles by our unique blend of modern IT services, industry-specific expertise, and approaching client relationships as a strategic partnership. We have also led the conversation on data security and privacy in industries vulnerable to hackers seeking the highly confidential information that the industry generates and stores. IT services and developing security solutions for licensed cannabis businesses of all sizes, XOverture knows the ins and outs of everything required to develop, launch, implement, and manage a reliable, efficient, and compliant cannabis business. Our expert IT team works with you to develop a solution that fits your unique needs, can scale up quickly and seamlessly, and will keep your data secure.
Reach out and let us know how we can help. We’ve got you covered.