Lessons Learned from Years with Resources
What You Can Learn From Successful Marijuana Companies
Since the legalization of recreational use of marijuana in the states of Colorado and Washington in 2012, the industry has grown immensely. Several states have legalized the drug for medical and recreational use and this move has been supported by 64% of Americans.
The new industry has created different business opportunities including cannabis dispensaries to cannabis oil distilling and industry consulting. As an aspiring entrepreneur, there are many things that you can learn from successful marijuana companies before you make a move.
Legal Changes Can Build or Destroy an Industry
Governments have a role in creating an enabling regulatory environment for organizations. It is the work of the federal and local governments to set up the regulations for opening and running businesses. As a result, a single regulatory change can significantly affect how businesses operate.
Marijuana has been an illegal drug in the USA, and despite research proving the medicinal benefits of the drug, lawmakers were not, until recently interested in passing laws to make it legal.
IN 2012, Colorado legalized marijuana, and since that time, marijuana sales have topped to$ 1 billion. The lesson here is that it is important for you to analyze the regulatory environment. With all the information you need, you can make sound business decisions.
Dress the Part
The mention of weed dealer evokes visual images of a shady-looking person with an afro, baggy t-shirts, ripped jeans and sneakers.
What people miss out is the fact that successful marijuana businesses are operated by entrepreneurs who wear the part. They put on expensive suits and turn up for meetings and trade shows ready to exchange business cards.
For you to succeed in this filed, you must shed off the weed dealer stereotypes, dress up like you are looking to score serious deals. This way your brand will easily attract the modern pot consumers who prefer shopping brands that reflect their style.
Quality products will always sell quickly. Even with it being legal, the stigma on cannabis users is still evident thus you could assume that most consumers will not really bother to inspect the product quality before they can buy it.
This is a wrong assumption as the most successful marijuana companies are those that cultivate or sell cannabis products that are of high quality.
As an upcoming marijuana entrepreneur, there are several opportunities that you could invest in. You have an option of growing the plant, be a licensed distributor, start a delivery service and trade in edibles like weed sauce and weed cakes.
Regardless of what you want to do, you must not take the shortcuts by selling cheap, low-quality products for quick profit. By so doing you will tarnish your name and in no time you will be out of business. Focus on offering high-quality products that will satisfy your customers and keep them returning.
Even when offering digital service like LeafBuyer which helps consumers identify the nearest cannabis dispensaries, be sure to provide great consumer experience.