I owe you a blog post, so here it is

Old fashioned typewriter

These last couple of weeks have been really crazy-hectic. Thinking about the competition from other shops, the challenges of banking and insurance, building a website. Purchasing products, finding customers. Lions, and tigers, and bears … oh, my.


Big challenges

Customers and making sales, or lack of either, right now is my biggest challenge and biggest fear. I have invested time and money into this endeavor and what if no one comes to the party? When I first decided to try this, I thought it would be easy to sell CBD online, but if you want to do it right there is a lot to think about.

Online shopper with a credit card

Build a website

OK, I work in the tech industry. I use websites and shop on Amazon all the time. I think I know what goes into building a good website. Good tools are available for the do-it-your-selfer, but nothing beats an experienced web designer. So many things to think about. The ambiance, if you will, sets the stage for your product and is an extension of yourself. Set up a shopping cart. Loading products. Writing product descriptions. Writing blog posts; original content is the life blood, but researching and writing takes time too. You do what you can and the rest can come later. You have to be OK with less than perfect.

Methods of consumer interaction

The competition

The competition right now is stiff. My competitors are big box stores that buy bulk and sell cheap. They are the mom and pop shops that decided CBD was an easy way to make big money fast. I made my first CBD purchase at the local florist shop, makes sense in a weird kind of way. They are a plethora of online shops, just like me that are trying to stand out from the crowd to make that sale.

Minions wrestling; the competition

Other challenges

Entrepreneurs have to find a supplier with a superior quality product, especially if we want to use them in the future to create private label products. We have to get the product at a price that allows us to make some money and pay the bills

and the potential of being shut down if we make a mis-statement about the efficacy of the product we sell. We cannot, for example, make any specific health claims about CBD. If we do, it could mean a letter from the FDA.

We have to find banks and credit card processors in an environment, that because of questions about the legality of CBD, are hesitant to do business with us. Price-gouging is common among the processors that will work with us because they know they can get away with it. We don’t have a choice but to work with them.

No price-gouging symbol

Ditto with insurance providers. You need liability insurance to protect yourself in case someone is injured by your product, but premiums are three times higher than are paid by other businesses. Everyone wants their piece of the pie. That’s the American way, right?


Just keep moving forward

I’ve gone too far to turn back now. I just received my insurance quote, so I guess I need to break from this to go read that. I saw a pretty large number in the email, and it scared me a bit. It’s 10 car payments worth of insurance premiums. I guess I’ll need to keep my day job for a bit longer.

My next post will be more than a stream of consciousness, maybe some healthful living tips for you!!!

Are you starting a CBD or other online business? How is it going for you? I would love to hear from you and how you met your challenges.

Namaste


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