Jamaica has asked its central bank to find a solution to banking issues that are tripping up development of the country’s medical cannabis industry. Daryl Vaz, minister without portfolio in the Ministry of Economic Growth and Job Creation, said the government considers medical cannabis a potential catalyst for the country’s struggling economy, the Jamaica Observer reported.
“The whole issue of banking arrangements, formal banking arrangements, has to be addressed,” he said. Vaz said MMJ companies are excluded from the formal banking sector because of existing laws and banking regulations.
He made the comments at the launch of Kronic Relief Jamaica, a new medical marijuana company that received seven licenses from the Cannabis Licensing Authority.
Henry Lowe, a scientist and cannabis researcher, warned that Jamaica was in danger of “missing a great opportunity” presented by cannabis.
1. Morning Routine
Remember this: whatever you do in the morning, is going to have an impact on the overall quality of the rest of your day. For example, waking up and feeling regretful of last nights events is not going to help you at all. Instead, waking up and feeling happy to be alive is going to give you the right energy boost to start the day right.
My routine consists of meditation, healthy breakfast, exercise, and work!
2. Meaningful Work
You’ve been there, stuck doing work that is neither getting you anyway, neither is it in any way fulfilling. I’ve learned that working on what I love (like the CodeCondo project) is the same as never getting tired of what you do. By engaging in a meaningful project (if only for 49% of the time) you’re giving yourself the space you need to regenerate, learn, and help others. I love to write, but I also love to build something. I pick whichever feels right at the time, and stick to it.
3. Analyze Data
As an entrepreneur, you’re constantly exposed to new data, to new cool things being built. If you’re anything like me – stuck in the loop of continuous evolution of the web as we know it – then you know how difficult it can get to try and understand many things at once. Both – data mining & data analysis can be very helpful towards your specific goals and needs.
4. Constant Flow on Social Media
In the end, everything that you’ve done as a business person is going to come down to how many people have you helped, and what kind of value have those people gotten out of you.
Nurturing relationships with your customers is a crucial part of growing a successful business. In this age of automation and innovation, caring for your customers has never been more important. — Brian Honigman
I recommend using something like BufferApp, very handy tool and comes to about ten dollars each month if you want to keep unlimited stock of social posts to send out. Or, you feel you won’t have time to fill those gaps up? Buffer offers specific post suggestions that refresh on daily basis.
5. Screw Clutter!
Technically, you should only be reading and analyzing content when you’ve got the appropriate amount of time to do it at your disposal. Scrambling together some pieces of content over the course of your day – well, it isn’t really learning, or reading for that matter. It’s clutter. It’s distraction, and disadvantage.
You’re a business person, an entrepreneur – people expect you to be sharp, so try and find ways to minimize that clutter in your life. You won’t believe how big of an impact can a clean (over dirty) desk make towards the amount of work you do, or even your overall mood levels.
6. Try a Cafe
I’ve found that spicing things up in my schedule can have a really positive effect. In fact, a few months ago – I specifically began some mini-research on which are the best places in my town to go and work at in the early morning hours. I had to take many things into consideration, but I later learned that the quality of coffee is far more important than the amount of space you’ve got to sit on.
Here is a list of twenty good reasons and advantages of working from a cafe!
Try to visit a Cafe for the next week or so. You can use it to write down your goals for the day, answer your emails from the last day, as well as to catch up on the latest news in your industry. Plus, in the early hours – most cafes will be dead up until 10:30am.
7. Know Your Priorities
Look, if you don’t know what your priorities are, why are you even trying to be an entrepreneur? I’ll usually stick with two major projects at any given time, trying to take on the 3rd one is only going to cause confusion, and unnecessary headache. But, even with two projects that are active full-time; I’ll try and map my priorities accordingly.
You never know who you might have to hire, or what you may need to change and adjust on your product, but you should always know what your priorities are at any given moment. Is it building the customer base? Is it about building better relationships with current clients? Whatever it is, know it.
8. Make Lists About Lists!
You see, in the worst case scenario – you’d only be making lists, which is totally sufficient to aid you with invaluable experience. Making lists has proved to be one of the best ways of coming up with new business ideas, ironing out ‘mind bugs’, and also for learning more about my experience so-far in the field of business.
9. Reward Yourself
Listen, if you – for a second – think that all you have to do is work hard and make money, then boy – you’ve been hanging out with the wrong people! Of course, it’s not healthy to just spend, but neither is it healthy to just work!
When you’re working hard at something–like a diet or a budget–it’s okay to reward yourself for hitting a milestone. The ideal reward, however, is one that doesn’t set back your progress. — Lifehacker
Always give yourself time for downtime. Go places, spend those few extra dollars. Feel financially free, feel empowered by your success, and everything else that is coming your way. I had to poke myself really hard to accept the fact that it’s okay to reward yourself!
10. Nine-to-Five: Forget It!
Right, for my last entrepreneur hack today – I’d like to suggest that you quit the 9-5 working schedule, and find something that really resonates with you, and your values. I found that giving up on a set working schedule has given me the freedom to make better decisions, and perhaps even has taught me to appreciate opportunities more.
In the past, I’d signup for everything that came my way, now – I feel that I can analyze something, before agreeing to the final decision. Yeah, whatever work schedule you choose to work with – acknowledge that you’re moving forward, and if you’re not – make the necessary adjustments.
Before you go looking for investors and funding, you need to make sure your startup’s business plan is rock solid. Here are some tips to help you develop an outstanding business plan for your early-stage business.
Your business plan is going to be the first thing that potential investors look at when you solicit them for money or if they are looking for another business to add to their portfolio. Therefore, your business plan is going to be one of your biggest keys to success as a startup. There are going to be a few key things that investors look for in a business plan and you must address them in order to have a winning plan; the following are five things that you definitely need to include on your business plan in order to make it a winning one.
How large is your market? Is it growing? Is your market filled with repeat customers? Are there emerging opportunities within that market? Is that market under threat from anything? By addressing these questions in your business plan, you will not only give yourself and investors an idea of what you are looking at for future sustainability and growth, things that will be key in your business’s success.
Size Up Your Competition
Instead of ignoring your competition in your business plan, address them. Include the things that your competitors have to their advantage in your business plan, and state how you are different or how you have an edge over these already-established businesses. This will show your investors that you have a realistic head on your shoulders and are able to look at the big picture; both good signs of success for a business.
At the end of the day, people are investing in your business in order to make money. Having three year minimum projections will show your investors how much your business stands to make versus how much it stands to lose, and will put your investors’ minds at ease about the risk that they are taking in investing in you. These projections will look especially tantalizing if you include market analytics that are well founded and come from good sources.
Cash Flow Statements
Even if you are just starting your business, if you are already gaining cash flow, you should state it on the business plan that you are offering to investors, and tie them into your projections of cash flow. Any sort of positive cash flow is going to be attractive to your investors and will draw them in more than almost anything else on your business plan since these statements have already happened and are not based on abstract statistics of years past or years to come.
Give An Executive Summary Of Your Business
Even though this should go at the forefront of your business plan, it was left for last on this list to make sure that all of the other elements of a good business plan went into your executive summary. These are synonymous with abstracts in a scientific study; they are to give your investors an idea of who you are and what you aim to do, with results included. This should be short, sweet, and to the point, but should be polished and include enough detail to tantalize them enough to read further.
Watch all videos on Steven Conville’s YouTube Channel!