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When it comes down to any business, revenue is what matters. Without it, what’s the point of starting up at all? Of course, building a business is hard enough, but building revenue? That takes some serious consideration and practice no matter the industry. In the business of hemp processing, building revenue is equally critical to success. But, in such a competitive, growing industry, how do you ensure building revenue in your business? At extraktLAB, Dr. Jon and Randall Thompson know a thing or two about building revenue in the hemp processing industry. In fact, they each have five critical steps to ensure a profitable business is possible. Randall’s top five steps are to: 1. Clearly identify your ideal client/customer, 2. Being the authority, 3. Inviting your client behind the scene, 4. Expanding the definition of a “customer,” and 5. Work really, REALLy hard. You'll have to listen to or watch the episode to learn Dr. Jon’s top five. In this episode of extrakTALKS, Dr. Jon and Randall Thompson discuss the ins and outs of building revenue in your CBD and hemp processing business. Listen in to hear Dr. Jon's and Randall's top 5 secrets to building a profitable business and get the answers you need to create a successful hemp and botanical extraction company from the start to finish. To be eligible for a FREE giveaway please Share this video, like, comment and subscribe! For a FREE 20 min CBD Jam Session: https://extraktlab.com/jamsession Watch as Dr. Jon gives a Live Tour of 5 Ton/Day Hemp Processing Facility: https://extraktlab.com/live-tour Here is a link to a FREE Advanced guide to extraction: https://extraktlab.com/advanced-extra... Have a recommendation for a future episode? Leave a suggestion in a comment below! Timestamps: 00:00 Intro 00:49 Introductions 01:30 Housekeeping 06:00 Next weeks topic 07:51 Business Revenue 09:13 Who is Randall Thompson? 10:32 Bootstrappers 13:05 Randall's Top 5 13:12 #1 Clearly Identify your ideal client/customer 13:25 #2 Be their authority 13:47 #3 Invite them behind the scenes 14:06 #4 Expand your definition of who your customer is. 14:33 #5 Work really, really hard! 15:24 Jon's Top 5 15:35 #1 Find a hunter/gatherer 16:45 #2 Offer something of value 17:56 #3 Influencer outreach is paramount 18:46 #4 Start an Instagram war 19:35 #5 Give blood early and often 20:26 Who's List is better? 20:30 Who's your customer? 22:05 Core Capabilities 23:11 Choose your focus 24:13 Authority and value 25:34 Become the expert 28:11 How do i find more customers? 33:22 Use Influencers 35:06 Find experts 36:09 SEO & Ad words 36:59 your next hire 37:40 Passive employees and corporate America 38:45 Should I hire mercenaries? 39:23 Who should I hire? 40:24 Build Relationships and give value 42:03 Solve your customers problems 44:33 What do your customers care about? 45:25 How big is the industry? 47:00 Do we direct compete? 50:11 Thoughts on split contracts? 51:35 Blood, Sweat, and Tears 55:39 Questions? 56:00 Closing Comments