The market transition is expected as everything around us is constantly changing and frequently upgrading. How to adapt to the transition from the traditional market to the regulated cannabis business is a progression for growers and owners. Join Tony Frischknecht as he gives some extremely important information and strategies to guide you in this big move in the market. He shares some tips, which you can consider as a drill, to become the business entrepreneur that you are and to expand your network. So sit back and listen to this episode on how to get your business license and be taken seriously by authorities and investors for your cannabis business.
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Market Transition Tips From Traditional To Regulated Cannabis
How To Transition From Traditional Marijuana To The Real Business Of Cannabis
If you are reading, after January of 2021, we’ll create this as a timestamp of where we were at. I have seen things exploding in the cannabis industry. A lot of new businesses and people understanding that there is still so much opportunity. I want to let you guys know if you’re a new reader, checking my show out, and you’re interested in starting something in cannabis, please don’t waste your time. There are still plenty of open areas for the new entrepreneur but the big guys are gaining some speed and some strength. You want to keep that in mind.
They’re hard to keep up with their capital and large footprint that a lot of these multi-state operators are starting to create. I got some inputs from some of the audience out there. I want to throw a shout out to Matt Gillard. He is out of Massachusetts. I’ve interviewed him and his brother a couple of times and we talked about some ideas. This will be from some stuff that he and I discussed that we think there’s some value for some of the audience out there looking at the transition from traditional market, and regulated market. There’s a couple of things. I’m going to touch on three things here with you guys because they’re extremely important.
A lot of it so that people take you seriously. If you’re coming from the traditional marijuana market into the real business of cannabis, these are going to be things that will hinder your growth immensely or they can help you by relating to the city, state officials, all these people that you’re going to be coming into contact with. It means so much to the success of your business. That’s what it comes down to. These people are going to hold the keys to allow you to create a business to not only provide for your family but for all the people that you hire. It’s extremely important that you take this seriously. The first one I want to talk about is professionalism.
This may seem very simple to some of you. When I was transitioning, getting my feet wet, and working with some of the regulators and lawmakers, I didn’t put this together but simply having contact info organized and in place. Having your email address match your company name, having your phone number, and your business, a business card or electronic business card, whatever, you want to be able to hand these out when you’re networking, especially to the amount of people you’re going to be meeting and the regulators. You’re going to be dealing with these people, they need to get in touch with you, and know you’re a real business. Being professional and putting yourself out there and saying, “Here’s my card. I’ll send you my electronic card,” so people can get in touch with you.
That is the beginning of talking to these guys and knowing that they can reach out to you whenever they want or they can touch-base with you. I know it sounds simple. Why not a business card? However, there are a lot of people that are busy creating their business but this is a very simple thing. There are a lot of people out there, especially online nowadays, that can make it whip up a business card for you. It might cost you $100. It is not a big deal but you still need it. We are also dealing with the age of online.
Everybody is Zooming now. You want something digital that you can send out or at the very least on the bottom of your email, if you’re using Google or whatever service you’re using, you should be able to do a signature part and put your contact info. If people lose you, they can retrieve your email, go back, and find you. Professional appearance or personal appearance is number two. You don’t have to wear a suit and tie, I’m not asking you to do that, but I am asking you to think about who you’re going to be standing in front of on a daily basis.Look professional like you mean real business, and people are going to see that you're not just a pothead. Click To Tweet
You need to at least wear button up shirt and nice jeans that are not tattered, not frayed. When I started this, I wore flip-flops a lot of the time. I know there’s a lot of guys out there that do that too. If you’re going to do stuff like that, it’s okay. Take care of your parents especially like clipping your toenails, cleaning them, stuff like that. It seems silly and stupid but this is the things that traditional market was used to. Didn’t matter how you looked. Again, I’m not saying you have to be pristine and look like $1 million but you need to look respectful so people take you seriously. That’s all this is.
If you’ve got a beard, beards are fine. Make sure you have them trimmed, groomed, and look at the people that are surrounding you too especially if they’re your business partners. Make sure that they understand that, “We’re going to a city council meeting.” There’s going to be a lot of people in the newer markets that don’t want anything to do with cannabis. If you put yourself out there as a professional and you’re treating this seriously like a real business, people at these meetings are going to see that you’re not a pothead, scumbag, or whatever it is.
That’s why you’re putting out there. Some people, “That’s not who I am.” I understand that but you want people to see your business and who you are for what is in your mind, and not what you look like. It’s going to take them a second if you look clean and professional. They’re going to say, “Now, we can listen to this person.” This is something I learned back in sales a long time ago. You don’t want people to get that first impression of you as a bad one because it will carry with them longer. You want to make sure when you’re dealing with a lot of these officials that you look that way. You look presentable.
The other thing is knowing your business. I’ve had problems with this in the past too. It’s a problem for a lot of new entrepreneurs. “What are you doing? What’s your business?” “I grow a little bit over here and do that. I’ve got an edibles thing I got going over here.” That’s fine if you have all that stuff going on but if you’re a grower, then say I’m a grower. I’ve built my grow. I’ve got, for instance, 100 lights. I started with ten originally and now, I’ve got 100. People want a direct answer because they want to know what you are. As you grow further and you start evolving in the industry, what’s going to happen is you’re going to come across new opportunities.
These new opportunities will give you that latitude where you can say, “I’m a grower. We start with this dispensary here. Now, I also have ownership in edibles company over here. We’re taking a lot of our biomass and we’re selling it to our edibles company.” People get a feeling of what is it because what’s going to happen too is, you’re going to talk to investors. They’re going to want to know certain things too. If you don’t have a direct answer to them, they’re going to blow you off in the end. They’ll be like, “That guy doesn’t know what he’s doing.” Keep that in mind. You’re going to be dealing with regulators, inspectors like building inspectors, health inspectors, investors is another one, and other business owners.
These are four big ones that you’re going to be dealing with on a day-to-day basis. Of course, you’re going to do is city council regulatories but a lot of people will be working with groups to put that together. If you’re in the early stages in your area, wherever your locality is, city, state, or wherever you’re at, you’ll be a lot more hands-on. It’s very important to keep these little things in mind because you don’t want to be stereotyped as the stoner pothead guy. That’s not the point of this. The point is business entrepreneur.When people take you seriously, there will be more opportunities coming your way. Click To Tweet
You want to be looked at to that. I want to step back a couple minutes to where I was talking about the grower. Please don’t use the word master grower if you are a grower. That is such an overused term. It’s got a lot of negative connotations to it. There have been many people out there now that have hired master growers that have burned them. Say you’re a grower, give your experience time, and that’s enough. That’s plenty. If you’re coming at this from a retail angle, your retail sales background is huge. People are going to want to see that.
As a nutshell, why is this all important? It’s because all these people you’re going to be dealing with, as I said, on a daily basis, and what this comes down to is act as if you truly are a business owner. This is what you are doing. All these little pieces here that I shared with you, they are going to show that you’re serious. People will take you seriously. In turn, there are more opportunities are going to come your way. People are going to start understanding you, and then they’re going to say, “Tom, I like what you’re doing.” You’re going to start getting your name tossed around these larger circles. The ones that you’re not used to. One of the most important ones and I’m going to throw this out for the growers out there, is dealing with the police.
You don’t want to be the typical stereotype talking to the police, standing there, and showing them what people would say, “Look at all my pot.” You want to make sure that they look at you and say, “This guy is taking it seriously.” At the end of the day, they hold the key to the licensing. All of them do especially the local government. If you are not up to par on your business, what you do, and who you say you are, it’s going to show quickly. A bit of warning if you are involved in social media, so are the police. They can take and search you up really quick. If you have stuff out there or you’re putting stuff out online, make sure you start changing the narrative so that they understand that you’re a true business owner, you’re not doing this as a side business, and you’re not doing illegal stuff because they will find that out too.
I’m not saying that to scare you. What I’m telling you is I want you to succeed. This is what I try to share with you all and teach you is the success side of it. These are the little steps that need to be taken. I hope this has been a little bit helpful for you. For those of you that aren’t interested in building the side of the business or you’re not here, I apologize but this is stuff that we need to think about. If you’re working in the business, you can understand a little bit deeper about those guys that are transitioning from the traditional market into legal cannabis.
I want to thank you again for joining me at Plant Problems. I wouldn’t be here without you. If you have any subjects such as what Matt gave me, I would appreciate you sending me any info you have. Anything that you want to hear me talk about or go deeper into, I’m always open to that. You can reach out to me at PlantProblem.com and see all my episodes there. This is my 81st episode. I’ve got a lot of different episodes throughout cannabis. I asked you to come join it if you haven’t read my blog before this episode. If you have, I want to thank you so much for continually reading. I work hard to try to bring you stuff that is helpful for you at the end of the day. Thank you so much for reading. I’ll see you, guys, very soon. Bye.
- Matt Gillard – Previous episode