Here comes the next wave of wide-eyed individuals looking to enter the cannabis space. I recently returned from two conferences, MJBIZCON and NECANN. Both conferences provided opportunities to reconnect with individuals in the space and see growth over the last 18 months. A common theme I saw at both conferences was the eager, wide-eyed individuals looking to migrate their experiences and backgrounds into the cannabis space. The cannabis industry is like alcohol or tobacco thus allowing for a seamless transition they asked? Sorry guys, not quite. While true in theory, cannabis always operates differently. While it’s impossible to share how and why cannabis operates different there is a major recommendation that can be helpful when learning about the differences. With early decisions crucial to the success of opportunities, this piece of advice may help other new entrants in the market.
Partners make all the difference. Trusted experienced resources can help you foresee obstacles and navigate the tricky and expensive waters that is cannabis. As a service provider in the space for ~3 years, which by no means is a great length, I’ve been fortunate to be a part of multiple A Note to the Eager Entrants Post Cannabis Conferences conversations. These experiences have allowed me to see catastrophic mistakes by taking short cuts early in the growth of their business. Partners or resources where you can lean on experienced individuals make all the difference in the world. We highly recommend when building out your business, use a mentor or advisor with industry experience as a sounding board for the numerous challenges.
The second recommendation is to be willing to learn and be a sponge. It’s challenging to pick apart the complexities of the various industry sectors. The challenges are endless, some minor but others massive and difficult to navigate. Leaning on experienced resources and recognizing the value they bring to the table can make all the difference, while navigating these new, untapped opportunities. The year of the east coast is almost here and with it we will continue to welcome new individuals into the space. We wish you all the best and encourage you to push the limits of what you can accomplish and lean on those who have the scars of experience.
There’s tremendous opportunity for all, and as the saying goes, “rising tide lifts all ships.”
Editors’ Note: This is an excerpt from our Monthly Playbook. If you would like to read the full monthly playbook and join the thousands of others you can sign up below.
