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. If you are an aspiring entrepreneur looking to venture into this industry; there are numerous things that you can learn from successful marijuana companies before you can take the move.
Legal Changes Can Build or Destroy an Industry
The government plays a major role in enabling a regulatory environment for businesses. 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.
Over the years, marijuana has been labeled as an illegal drug in the USA, and it is not until recently that lawmakers legalized it despite research showing its medicinal benefits.
In 2012, Colorado legalized marijuana, and since then the sales have topped $ 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.
Be Smartly Dressed
In most cases, the mention of a weed dealer creates a visual image of a shady-looking person often dressed in baggy t-shirts, ripped jeans, sneakers, and dreadlocks.
Successful marijuana companies are operated by entrepreneurs who dress the part. They put on expensive suits and turn up for meetings and trade shows ready to exchange business cards.
If you want to succeed in this industry; you must abandon the weed dealer stereotypes and dress up like you are anticipating to score big deals. This way your brand will easily attract the modern pot consumers who prefer shopping brands that reflect their style.
Consider the Product Quality
It is no secret; quality products fly off the shelves. 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 aspiring marijuana entrepreneur, you have several investment opportunities. 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.
No matter what you want to do, do not try to take shortcuts by selling cheap, low-quality products to get quick profit. If you take that route, you will end up tarnishing your name, and with no time you will be closed down. 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.
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