What technology do you need to start and grow a cannabis business?
It would be nice to have a cheat sheet to help you decide. Then you could just check off the boxes as you invest in the “right” technology, knowing it would last indefinitely.
Unfortunately, technology is constantly evolving. What worked a couple of years ago may put you at risk today.
The key behind “right” technology is the ability to segregate which can truly help your business operations from those deemed frivolous. Bright shiny object syndrome is easy to fall for, especially considering the latest technology promises. They make it seem like you can’t live without it. But if you’ve ever fallen for one, you know regret can follow almost instantly.
Choosing the right technology can help leverage your business and boost your ROI. Where do you start?
The right technology improves your existing business
Most of us invest in technology because something is lacking in our daily operations. We know there are faster/better/more productive ways of doing something. So we hunt for a solution.
Solutions come in all shapes and sizes. This is where it’s easy to be swayed by “shiny objects.” Never jump at the first solution you find. Look at several and weigh your options. Is it bigger than you need? Will it allow you to grow? Will you use all the features?
The right technology fulfills your business’s needs
Technology isn’t designed just to improve your business processes; it’s also there to meet your needs. Any new technology aims to provide you and your team with the tools to perform your jobs better.
Within a cannabis business, that can look like many things. It can provide the sales team with tablets to make them more efficient. It might be cloud-based resources to allow you to do your job from anywhere.
The right technology is often popular within your industry
This isn’t about following the “Joneses.” Instead, it means Cannabis IT Services in your industry. It’s about trusting partners who understand the cannabis business and know how to increase efficiency. It’s natural to want to blaze your own trail. But sometimes, the smart decision is to embrace what’s best within the industry.
The right technology improves your profitability
Nothing is worse than spending money blindly, only to discover it was a complete waste weeks or months later. Before you invest in expensive technology, it’s wise to perform a cost-benefit analysis to ensure the tech’s intended benefits correspond to its costs. Will it give you more time to spend on other things? Will it improve productivity? Will it lower other costs? The more you invest in technology, the more time you should spend looking at how it impacts your bottom line.
The right technology is easy to integrate
Technology should never disrupt your current operations. There will be a learning curve, but it should improve what you do in the end. Will it provide staff members with more flexibility? Will it give users a smoother experience? The right technology will never have usability issues and will make some of your processes a little easier.
The right technology must work into the foreseeable future
There will never be a “once and done” technology purchase. Technology is advancing rapidly, and will continue to do so well into the future. Upgrading is just a part of doing business, but that doesn’t mean you have to do so without looking into the future. Does it work with what you have now? Will upgrading be easy in the future? Question how far into the future this latest investment will last.
The right technology is protected with reliable security
Every advance you make should make your cannabis business safer and more reliable. If it leaves gaping holes, it only puts you at more risk. Your new technology should come with strict security practices. It should improve your vulnerabilities to hackers and other entities looking for ways in. Always go for certified and vetted technologies with security practices behind their brands and names.
For IT Strategy, Security and Compliance, or Help Desk Services, reach out to us at Cannabis Technology Partners 360-450-4759.