What You Can Learn From Successful Marijuana Companies
Since Washington and Colorado legalized the recreational use of marijuana in 2012; there has been an immense growth in the sector. Several states have legalized marijuana for medical and recreational use with 64% of Americans supporting this move.
This a new industry has created many job opportunities right from the cannabis dispensaries to the oil distilling and industry consulting. As an upcoming entrepreneur looking to venture into this industry, there are many lessons that you can learn from successful marijuana companies before you can make a move.
Government Changes Can Make or Destroy an Industry
Governments have a role in creating an enabling regulatory environment for organizations. The national and local; governments set the criteria for opening and operating businesses in the various industries. As a result, a single regulatory change can significantly affect how businesses operate.
Marijuana has always been an illegal drug in the US, despite research proving the medicinal benefits of the drug, lawmakers were not convinced about passing laws to make it legal.
You will be amazed by the fact that since the legalization of marijuana in Colorado in 2012, its sales have topped $ 1 billion. The the lesson you are learning here is the need to assess the regulatory environment. Once you have the information; you can make sound business decisions.
Dress the Part
Often, the word dealer evokes images of a shady-looking person with dreadlocks, ripped jeans, baggy t-shirts, and sneakers.
What many people miss to understand is the fact that successful marijuana companies are owned by entrepreneurs who are smartly dressed. 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.
It is no brainer; quality products sell fast. There is still a lot of stigma on the cannabis users so you could assume that most buyers don’t really bother to inspect the quality of the product before they can buy.
This is a wrong assumption as most successful marijuana companies cultivate or sell high-grade cannabis and cannabis products.
As an upcoming cannabis entrepreneur, there are many opportunities to invest in. You could choose to grow the plant, be a licensed distributor, begin a delivery service or trade edibles like weed cakes and weed sauce.
Regardless of what you want to do, you must not take the shortcuts by selling cheap, low-quality products for quick profit. You will only be tarnishing your name, and in no time you will be out of business. Be sure to offer high-quality products that will keep your customers happy and coming back.
Even if you specialize in digital service like LeafBuyer which allows consumers to find the nearest cannabis dispensaries, you must provide great customer experience.