#5 Business 101 | Building Revenue

Summary

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 cannabis extraction company from the start to finish.

Transcript

Welcome to extrakTALKS with Dr. Jon podcast. Dr. Jon is CEO and president of extraktLAB and United Science, an industry leader in hemp, cannabis and the extraction industry. Listen closely as Dr. Jon talks about his experiences, CBD extraction methodology, and the ins and outs of owning your own business. Dr. Jon teaches you healthy business practices, how to increase your profits and steps to take your CBD company to a whole new level. Let’s dive in.

 

Randall Thompson  00:34

Hey, guys, how are you? Thank you for joining us today we’re going to be talking about business revenue. And man, we have had a giant opportunity with questions coming in rolling in. I’m really glad you’re here. Thank you for joining us. 

 

Dr. Jon  00:48

Yeah, thank you for all the questions. 

 

Randall Thompson  00:50

Dr. Jon, Randall is where we are, and I appreciate you being here. The last few weeks we’ve been having a blast 

 

Dr. Jon  00:56

Yeah 

 

Randall Thompson  00:57

So, thank you for watching. for inviting your friends, I mean, this is crazy how it’s been.

 

Dr. Jon  01:04

Yeah, we’ve had every everyone we put out here we have over 100 people subscribing, and that’s huge. So, it is really awesome. 

 

Randall Thompson  01:12

Yeah, I love it. And so, thank you because you guys are making this show happen. 

 

Dr. Jon  01:17

Yeah. 

 

Randall Thompson  01:17

And we enjoy this. A lot of you have asked, you know, how do I increase my business revenue? What do we do? So that’s what we’re going to be talking about today. But if you’re new here, thank you for being here for the first time. We’ve got several things. I’ve got lots of papers, so sorry, I’m rustling. Hey, guys, thanks for the shout outs. This is awesome. Appreciate you being here. A couple of things. If you’re new here and your screen freezes up. Maybe there’s an internet hiccup or something on your end. All you have to do is push the reconnect button at the top. It doesn’t disconnect you completely and bounce you out. You don’t have to re-engage. Just hit it and it will refresh your screen right on air. That’s why we like this platform to use, because you don’t have to bounce all the way out and then reconnect it. So that’s a little bit of housekeeping. Last week’s giveaway winner from Instagram. Kaz Hawrylak. All right. Good job Kaz. That’s awesome. What do we send him anyway? Did we send them a hat, did we send him a T shirt? But we all have T shirts. We guess we have swag. So…

 

Dr. Jon  02:22

We have closets full of swag they just piled up there.

 

Randall Thompson  02:26

Yes, we got the logo stuff. It’s cool stuff anyway. If you go on our social media, Facebook @extraktlab, Instagram is @extrakt_lab, LinkedIn @extraktlab, YouTube @extraktlab, subscribe to us. That would be great. Appreciate it. There’s a lot of new resources. Oh my gosh, you’re on fire.

 

Dr. Jon  02:50

Yeah!

 

Randall Thompson  02:51

You’re on fire!

 

Dr. Jon  02:52

 I’ve been writing and doing videos every day and it’s just a lot of fun. 

 

Randall Thompson  02:56

He sits here and you know with this and he just gives information like valuable mini course stuff education.

 

Dr. Jon  03:05

 Right.

 

Randall Thompson  03:05

 It’s insane!

 

Dr. Jon  03:06

Yeah. And I got new prop my tommy gun there in the back. So, I’m adding more props to the set.

 

Randall Thompson  03:13

We were in a meeting when it arrived. He was very, very excited just so you know. He, he played with that for a while. It’s fun. We have a lot of fun here. And I hope you guys are having fun. We just enjoy you being here. It’s a fun and safe place. Ask questions, introduce yourself would love to know where you are, who you are, whether you’re a farmer, producer an investor. Where are you? This is No Holds Barred Q&A. So, there is no question too small or too large for us. We’ve got the full gamut, you know, I can answer the simple stuff. He can answer the advanced stuff. 

 

Dr. Jon  03:48

Right. I think one of those things. We need to probably go back and circle back to some of the questions we missed. Because, you know, some of the earlier episodes that we did, we had, we had so many questions we didn’t even know have time to answer. Well, that is true. That’s one thing that we could probably do is go back. And of course, we’re also taking some of those and putting them onto our website in the form of FAQs. Some of them have become beginnings of blog articles. So, we’re just kind of using that your questions as a means to get out the right information and the right content for you guys, we can actually go back and look at some of those old old questions.

 

Randall Thompson  04:21

And I think that’s a great, great point. And if there are questions that we haven’t answered for you that you asked in the past, I apologize. Just keep send it in again, we’ll see it. And again, I apologize if we hadn’t answered it on air previously. So, we’ll get there. Simple or tough questions are good. Join the chat. So, click on the chat button, and let me know and Jason is good to have you here from Oregon hemp farmer from Oregon. Good for you. All right. That’s nice. Let’s Jonathan, John, we got your questions here. Yeah. Thanks for sending those in early. Appreciate that. Yeah, getting them in early helps us, you know, kind of frame it and get you queued up for these questions. Invite your friends. Bring them in. Bring, you know, invite your enemies! That that’s even more fun for a show! 

 

Dr. Jon  04:21

Yeah, absolutely! 

 

Randall Thompson  04:25

We had a couple weeks ago, the ethanol versus CO2 debate and that was that was we set records we we blew out. We got a lot of haters, for sure. Yes. Good. I think I think we blew up the internet on that one.

 

Dr. Jon  05:17

Yeah, we did. Well, one of the things is we just maxed out on what we could actually have on our channels so that we did expand that.

 

Randall Thompson  05:25

So yeah, we did. We shouldn’t have that issue any longer. We’ve got a lot of other resources online. And YouTube has some of these that are there like our live tour. Oh my gosh, the live tour that you conducted here. We have a five ton a day facility here that we do for processing, really cool stuff. And next week, by the way, we’ll talk about this, but next week, we’re gonna be talking about testing, and where you test and why you test and how you test.

 

Dr. Jon  05:51

Oh, that’s going to be a lot of fun. 

 

Randall Thompson  05:52

It’s going to be awesome. I’m not sure testing and fun is that can you say that?

 

Dr. Jon  05:56

Oh, wait, wait, wait a second. I am a tester. That’s what I do. 

 

Randall Thompson  05:59

He really is!

 

Dr. Jon  06:02

We’re going to be talking about analytical chemistry, and we’re gonna make it really accessible for you guys. So, we’re gonna talk about how that will affect your brand, your CBD brand.

Wiped Film Distillation Guide
Calculators


Advanced Extraction Guide


extraktLAB Live Tour

Learn More About Our Turnkey Manufacturing Solutions

Talk to our professionals about where you are and where you want to go. Doing it on your own can be overwhelming, but just remember that you are not alone. We are here to help.

Schedule Consultation

Meet Our CEO and Founder Dr. Jon Thompson, Ph.D

Dr. Jon Thompson

Dr. Thompson is a separations scientist, entrepreneur, and inventor. As a scientist, he has a strong technical background and industry experience in analytical instrumentation, in-vitro diagnostics, biotech, mining, and homeland security markets.

During his cannabis industry career, Dr. Thompson has earned a strong track record of winning and implementing medical cannabis licenses in well-regulated, medically-modeled states.

Dr. Thompson has assisted numerous companies to attain their goals in cannabis and hemp manufacturing, as well as market development, strategic marketing, and worldwide business-to-business alliance formation (including international markets).

Dr. Thompson has a track record of writing winning cannabis licenses and has implemented hundreds of start-up operations in Canada, Europe and throughout the US for various clients. Dr. Thompson received a Bachelor of Science degree in Biochemistry, Chemistry and a Doctor of Chemistry degree from the University of Minnesota.

Get in touch with our team to request a quote, learn more about our training or get help with your business plan

We are dedicated to providing you with the best advice, quality and service in the industry.