With the continued rise of the cannabis industry, many business owners still second guess the reliability as well as the viability in that area. Among the doubters and non-believers comes a few people who, despite the rumor of uncertainties, still chose to venture into the business world of marijuana. In turn, their “canna-business” has been soaring ever since.
If you aspire to start a cannabis business, the best thing to do first is knowing the basics, and what’s more important than seeds? If you don’t know where to get quality seeds, visit Weekend Gardener to get more information. You can also learn about the techniques that can aid in the marijuana business.
Karson Humiston, the founder, and CEO at Vangst Talent Network
Vangst Talent Network is known as one of the top recruiting marijuana resources. Humiston decided to start on the company last 2015 immediately after she attended a trade show dedicated to marijuana. Seeing the need for different employees in the cannabis industry opened her eyes to the possibility of starting her own cannabis company. As of now, Karson manages a total of 31 employees and helps almost more than hundreds of customers. Also, she is helping thousands to find a suitable job in the industry, making it her primary purpose in life.
Here are a few tips that Karson Humiston wishes to let aspiring cannabis business owners know:
- Choose to focus on what you want. Diving into the marijuana industry can make you end up with numerous opportunities than you can handle. So, it is best if you know what you wish to do instead of attempting to try every opportunity you get. If you focus more on one thing, there is a bigger chance of attaining success in that particular field.
- Be mindful of the people you hire. Make sure you hire people who take their ideas and make them into a reality. It won’t be enough to have ideas alone because success means having the guts to execute a plan or purpose properly.
- Try everything if you can. Humiston adds this tip, especially for those who are still trying to find their purpose in life. If there is a chance that you can try different activities and work in various fields, do it. The experience can help you find your passion.
Jonathan Barlow, Senior Partner at Cannabis Practice Group
Cannabis Practice Group (CPG) is based in Detroit and is currently a consulting firm for the marijuana industry. Last 2017, the group had a 60% success rate in leading Detroit to choose and opt for the MMFLA known as Michigan’s Medical Marijuana Facilities and Licensing Act.
Jonathan believes in the power of cannabis, which is why he chose to work in the industry. He says that this generation can help the low-class population gain economic access through the cannabis business. Also, Barlow sees the potential of using medical marijuana in different healing and treatment processes.
Barlow further explains that diving into the cannabis business shows a lot of potential for helping those in need. Marijuana taxes can reach up to $40 million or more, which can help fund public schools. He also takes pride in being able to help small business owners as well as provide them with adequate training, give them a big chance at legal representation, and many more.
Although he grew up in an environment with the wrong information about cannabis and its benefits, Jonathan Barlow wishes to impart the following tips now that he’s mindful and informed regarding the industry:
- Discipline yourself and follow the rules. If you want to start a business, make sure you comply with all the requirements such as regulatory, taxes, and other necessities. Discipline should be the number one trait you have if you want the business to thrive in the industry.
- Be mindful of your finances for the capital, or choose to welcome investors instead. Typically, the minimum amount needed for starting a business ranges from $750,000 up to $12.5 million. This price range includes the papers required for licensing, seller’s permits, the tech needed to grow the plants, staffing fees, and many more.
- Spread correct information among communities. Since Barlow did not have the privilege of being taught about cannabis advantages, he advises that as early as now, aspiring business owners should start incorporating seminars or community programs that aim to educate the people regarding the marijuana business itself plus the benefits.
- Don’t be too eager to follow the latest trends. Jonathan stresses that following what’s new and famous doesn’t always guarantee success. Similar to what Karson Humiston advised, Barlow, says that finding an area of expertise to focus on can help the business thrive and become successful.
- Learn from experienced business owners. Stay humble and grounded because no one starts at the top. Take tips from different mentors and experienced cannabis sellers and learn the basics.
Overall, starting a business can be one of the most challenging things to do, let alone do it in an industry that’s new and fertile. But based on the stories mentioned earlier of successful entrepreneurs, choosing to start a “canna-business” can make way for new opportunities as well as helping numerous people along the way.