Maximum Yield Cannabis USA April/May 2018 | Page 45

Major business points to consider before entering the cannabis market as a business owner include: • Business Planning: There are many online tools, both paid and free, to help you create a solid business plan. This step is important not only to help attract investors but to provide a foundation of what you want to achieve and how you plan on achieving it. • Compliance: Our industry is now fraught with more governmental oversight than possibly any other industry in the country. Maintaining compliance with laws and regulations at all levels of government, not only now but as they evolve in the future, is crucial to success in the industry. • Financial: Do you have funding secured for your business? Have you detailed out the required start-up capital and an operational budget to help you survive the initial months before revenue? Having a solid financial plan is necessary for any start-up in any industry and we are no different. myhydrolife.com “ 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.” grow. heal. learn. enjoy. 45