Maximum Yield Cannabis USA April/May 2018 | Page 44

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MAKING YOUR
ON THE
CANNABIS INDUSTRY
by Jay Frost | In the highly competitive
cannabis sphere, only businesses that have laid
the proper groundwork will succeed. Making
the right connections, navigating government
regulation, and having a vision are just part of
the game plan required to succeed.
A
re you looking to enter the rapidly expanding legal
cannabis industry? There are many ways to get involved
and share in the excitement: investing, employment, ancillary
services, and starting your own business, to name a few.
In this article, I will focus on those interested in starting their
own business. Whether you are just entering the market or
are an established industry expert with years of cultivation or
manufacturing experience, there are many things to consider
as you make your dreams become reality.
It is important for everyone to realize the huge shift in the
status quo as the market comes above board. Not only will
consumer demands continue to vary, but governmental
regulations and oversight will forever evolve and place the
ongoing burden on business owners to stay up to date. Such
factors introduce many new challenges outside of simply
making a great product or service and offering it for sale.
I routinely get asked what it takes to start a business in our
industry, so I will provide a high-level oversight of areas to
consider. I see two major areas to evaluate when looking to
become the boss: the business side and personal side. In this
article, I will provide a list of areas to consider before taking
the leap, and I will drill down in more detail in following
magazine issues. Remember, this and subsequent articles are
by no means an all-inclusive list. Instead, they are written to
help the thought process of entrepreneurs.
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