Answer, WAY TOO FUCKING MANY!! *(Slight Title change... "Near Impossible".)* - I do not want to mislead or misdirect anyone. From talking to a lot of people about starting a business in the marijuana industry, I hear a lot of the same frustrations or in my mind, I call them excuses. Whether it's the legalization aspect, the federal and state regulations, the capital needed, and even the excuse that "it's too late", I believe and have found that none of these "excuses" are legitimate if you are a truly innovative entrepreneur. Throughout my entire life, I have learned to adapt to change and overcome resistance, which I am sure everyone else has as well. So why do these excuses hold us back from taking what is ours? We are the reason why cannabis has been around for some many years, without the average pot smoker the plant would not be what it is today. We as a community, are the answer to so many of the problems we are facing in our world today, regarding marijuana in general. I believe one of the strongest political acts, pro-cannabis, is the act of starting a business in the marijuana industry. Business runs the world, this is something I truly believe. Think about it, where would we be if it wasn't for all the businesses around the world? It's a deep question to think about indeed. None off these issues should hold any of us back. I will debunk these myths real quick with only a brief description. I will leave the rest up to you. Excuse: "But it's illegal where I'm from." Myth debunked: High Times has been operating and flourishing for many years. They started many years prior to any legalization whatsoever. And that is just one example. There are many many more. Excuse: Federal and State Regulations. Myth debunked: First off companies are getting by in accordance to these restrictions everyday - so it's not impossible but it does take a lot of hard work and discipline on the companies part. That is just one aspect. Another aspect entirely is thinking way outside the box when it comes to this market. When it comes to dealing with product, yes, it's going to be difficult, but piggybacking off of the producers is the smartest way to go. Whether it's operating services or even developing an online business centered around the industry there are definitely ways of bypassing these restrictions, so there goes that myth. Excuse: "You need a lot of capital." Myth debunked: Now this myth can be debunked one of two ways. First way is doing your research, and "Wowing" potential marijuana investors/angel investors. Easier said then done I realize that but it's possible and it will take a lot of focused effort. The second way is a repeat, creating an online business centered around the market is honestly not that hard. There are a lot of tactical systems, models, and validation processes you should and need to go through in order to create a strong online business but if you are willing to seek out the answers to these questions the process is not as complicated as it might seem. Simple but not easy. - that is all I will say on this subject. Last but not least. Excuse: "But the market has passed me by, it's too big, I'm too late" Myth debunked: My God, this is just a sad state of being a fucking pussy, sorry, I'm just being real with you all. The market is just forming. It's not even fully legal yet, the baby was just born 4 1/2 months ago! What are you talking about "it's too late", wake up and realize the potential this industry holds...don't forget about the hemp market! These are just a few of the excuses I've seen and heard. The others are just way to ridiculous and honestly not even rational. But they are what they are, excuses. Though there are a lot of reasons why someone should not start a business in the cannabis market there are also a lot of reasons why one should. Thinking outside of the box in this market really isn't as difficult when one truly sits back and begins brainstorming and organizing their ideas in accordance with the skills they already possess. Finding your niche in this industry is going to be vital to your success. So start now and get in while the competition is at an all time low because the market will only grow in saturation in years to come. You can be an expert in today's society if you only know a little more about one topic then someone else. It is really that simple. We don't know it all but we all definitely know a little more then someone else in a specific topic. Do not, I repeat, do not sell yourself short! If you can truly begin to shape your mindset in this fashion, your potential for success is truly limitless. With all that said, I hate to say but I am only scratching the surface. I realize some, if not most, will disagree with me but that is OK. This post is not for you so click back and read something else. I don't want you here anyways. You will know if you are right for this thread and I encourage you to comment and share your insights, hopes and dreams, and fears and failures so that we can work together in overcoming the "resistance" and creating the futures we want and deserve. Feel free to PM me as well for future contact.
I had a cannabis bushiness over 30 years ago Now I'm in a legal state its wide open. Might be tough to compete with wal-mart. LOL
First off I'm hammerd I read most of it but yeah big business dosnt want to invest in something that's illegal at a federal leval. There is many successful business in states that have legalised but they for the most part are just small business
It's not impossible it's just very difficult these days what with the medicinal marijuana industry on the rise and what not. Anyone can run a business it just takes determination ,inspiration ,know how ,hard work ,long nights ,and time (oh and more than likely a business loan).
So true its literally the best, although 10-20 years ago may have been better since the companies today aren't really getting smaller. Better late the never right? Think of the baby boom after ww2, this is the start of the marijuana boom. Also I feel we should fight and try to keep marijuana out of the hands of big companies, although its going to happen and not necessarily a bad thing but we shouldn't be forced to only purchase from 'them'.
Im speaking from a business strategy and financial standpoint when I say this. The opportunity for market penetration on a large scale is practically non existent. The odds of marijuana becoming 100% legal, and by that I mean anyone can apply for a business license to grow, buy and/or distribute, is almost 0. The direction the movement is going, it's more than likely to resemble liquor laws right now. Small distributors can get a license for a hefty fee and have to abide by hella strict rules. Its 10x harder to get a license to manufacture and distribute liquor. Sure its POSSIBLE, but the moonshiners aren't going to compete with Bacardi. Second thing is funding. Return is all about risk, and with so much competition, risk of bankruptcy increases. This means banks willing to lend to farmers will require a substantial premium on the debt for cannabis manufacturing meaning it will cost growers a lot more money to produce inventory. You're also ignoring future climate changes. Right now California, where most of the country's weed is grown, is in a drought....imagine if a million people with a green fever decide to start cultivating on a large scale. I do feel however there's room to compete in markets that aren't solely focused on the raw materials of growing and distributing, but in the edibles, household products, and restaurants/clubs who cater to that market.
Would be nice but there is no fighting the big companies. Its going to happen :/ We won't have to forced to purchase from them though as long as we are able to grow our own.
Haha, first off I love the fact that you had to be hammered in order to read the post. I completely agree, until its fully legalized big business will be weary of jumping on the playing field which allows smaller business/along with entrepreneurs to take advantage of the potential of this market. Good words, you definitely know what you're talking about. Yes, along what "I railed hellen keller" said, now is the best time because you won't be up against big businesses. It's only going to get harder in the future in relationship to this market. Niche down or go home - thats a motto of mine. I definitely agree with you on what it will take to start a business. But I am not quite sure if I agree with the business loans. I do everything in my power not to go into debt. Debt can be a useful tool but if it can be avoided, it should. Read what I posted at the bottom and maybe what I just said will make more sense to you. Better late than never is right. We are a little behind but we haven't missed the train, it will take hard work, and focused dedication, while utilizing the right systems and strategies but it can be done easier than some make it out to be. I totally agree, if we are not careful this industry has the potential of falling in the hands of MAJOR CORPORATIONS, MEDICAL COMMUNITIES (PHARMACIES), and/or THE FEDERAL GOVERNMENT. You have your head on straight bud, its a scary thought if we don't act now! You're 100% right about everything you said. I did ignore future climate changes because I was ignoring the entire aspect of growing, selling, and working with product. Like you said in your last statement, there is definitely room to compete in the markets that aren't soley based on raw materials! Thats what I am trying to convey here. Thank you for validating my argument. It would be nice but that is business. The thing is we all have a prime opportunity to hop in this market before it gets to that stage. Isn't it rational to hop in the market now, test what works and what doesn't rather than compete with the major companies and corporations in the future? If we hop on this right now, they might not be as powerful in the future. You might find this interesting... In the article, I mentioned that by starting an online business centered around the industry, it may make it easier for one to bypass a lot of Federal and State regulations. I have some solid know-how in the realm of online business - so right now I am considering creating an online course centered around creating an online business in the marijuana industry. Teaching people how to come up with a profitable idea or product, doing the research and validating their idea, and then finding their customers/market that will actually pay for their product or service. Along with extensive sales tactics and customer conversion methods. I just don't want to go about creating the product if there is truly no demand. Is this a good topic? What are your ideas? Do you agree or disagree? Your insights are crucial, don't hold anything back.
Sorry snoopdog6502 I forgot to include you in my last comment. I think you might find it interesting. Lol, I like the fact that you said you had one 30 years ago! Whats holding you back right now from jumping back in?
The state, fuck those cock sucking bastards, no way will I give them one penny more then they get now. I hope an elephant with projectile diarrhea shits on the state DOR. Nobody is going to crawl up my ass and look around. The sheep will go to the state approved pot store, buy pot processed by the state approved processor and grown by the state approved pot farmer. Not one penny of mine will go to any of those involved. Ill stick with my little medical grow and the state can suck on my big fat cock.
I didn't say there wouldn't be ANY start up costs, but the costs would be inferior compared to starting an offline/brick and mortar business. And it depends on what exactly you are considering starting. PM me and share what you are thinking of. And I will see if I can add any clarification. Refer back to the top post that started this post. Maybe you shouldn't start off just selling tangible objects, maybe you should, but by testing and validating your idea, that is how you will begin to understand and realize if you should be creating a tangible product or not. Like I said if this still isn't clear to you, PM me I am free to answer any questions that I can.
The problem is its still a schedule 1 narcotic, meaning banks can not lend to ANYONE involved in illicit activities or can face DEA investigations etc for funding drug rings.
Wow, having my wake and bake as I read this and thought just how timely this post is. I offer a case study that I am closely watching. Family man, soon to turn 50 has thirty years engineering when he had an accident at work. A year of great pain and much oxy later, they operate. It goes well but it take hime two years and a lot more oxy before they tell him he won't improve anymore. He goes through a year of hell getting off the oxy and is told that shy of another powerful prescription drug, he should try medical marajuana. He does. Not able to go back to engineering and coming in contact with many others in the medicinal industry, he buys seeds, clones and supply's. He is now looking for land to buy to grow, legally, for this industry. In his further research, he find that there are cannabus investors lined up as we speak. Their are dispensary Employees running around with large amounts of cash because they can't bank. This mans wife, a strong objector to this until very recently, is a financial expert and suggest creating a coop for farmers and dispensaries. Quick research of the laws confirm the wife's prediction that it is 100% legal! but those with the professional know how are scared of the social stigma more then the law. On 4/20 , the first plants hit the ground and these folks, whom you would not have believed would get into this business, ARE prepping for large scale cultivation when/if it becomes legal beyond medicine. So growing and banking, these will lead to many more jobs and businesses. It's merely a matter of being prepared. Good thred, thanks. ( sorry, my spell check is not 420 friendly but maybe this audience won't notice😰) Sent from my iPad using Grasscity Forum