The Business of Marijuana

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The Business of Marijuana

Marijuana investment is a topic that is captivating investors around the globe. People are unsure whether to invest in the Green Rush now or to wait until laws are more cemented. Those who really want to capitalize on this market, however, know that there are dangers and risks associated with any investment. If you wait too long you might miss your golden opportunity or, in this case, green opportunity to capitalize on one of the fastest growing industries since era. It is also a big concern of many that there is still technically a federal ban on cannabis even in the states that have legal marijuana industries. This is the same ban that has been preventing businesses operating in state legal marijuana industries from obtaining banking accounts within federally insured banking establishments like any other business can.


Owning a CannaBusiness is not all Tokes and Jokes

A marijuana business is not easy to own and maintain in the market today, though. There are many different variables that you must look at. There are many canna-businesses that can be owned and operated outside of legal marijuana states, however, they are harder to maintain as you can not do any local advertising and if your business is known it makes you more prone to having police interaction. Cannabusinesses operating in legal marijuana markets such as Colorado, Washington, or Oregon also face issues such as finding real estate companies that will lease to a marijuana business and establishing banking accounts for transactions due to the federal ban on cannabis. You also have to keep up with the ever-changing products, merchandise, and terminology. For success, it is also crucial that you provide a product or service that appeals to a particular niche in the cannabis industry or offers something that no one else does. These services range from a variety of things such as dispensaries, Bed and Breakfasts, restaurants, all the way to glass blowers, pouch makers, writers, actors, and many other fields one might not suspect.


Social Media is Powerful When Done Right

A successful cannabis business will require many different facets of the modern world in order to function at its most optimal performance. Being involved in the versatility of social media platforms such as Twitter, LinkedIn, Facebook, Google+, and others is vital. Maintaining a blog that has relevant cannabis news is also a very important step in making your presence known. People like to know the person on the other end of the internet is a real human being and not a robot. There are many different programs which offer to sell you followers, likes, and other social media advantages today. These programs, however, are not very beneficial as having a thousand likes does you no good if there is no response. All too often in the cannabis industry we see individuals with 50,000 followers who barely can get a post shared. It is much better to have a smaller following of 4,000-5,000 and have your posts actually engaged and shared dozens of times. There are many different tools and individuals out there that can help you with your cannabis business and guide you in the direction you wish to proceed in. Social media can be one of those tools but buying social media followings and interactions is not a tactical or smart way to do it.


Networking is a Great Tool

Be sure to stay informed in the industry by attending conventions and seminars that will help give you fresh ideas about your business. Attending business conferences and conventions surrounding cannabis will also allow you to do one of the most powerful things you can do in any industry, network with other professionals in the industry. Networking allows for new business relationships and ideas to be cultivated. They are also a great way to give a face to your company throughout the cannabis community and legal industries.


Opportunities for Everyone

There are opportunities abundant in the cannabis industry. From working with organizations fighting for legalization to trimming the buds from the latest harvest, there is something for everyone. If you are waiting to get in on the cannabis industry now's the time! For those who have always wanted to own their own business, the cannabis industry provides that opportunity. There are a vast variety of ancillary services needed from individuals with many different skills. For those who are not as ambitious and do not want to own their own business, there are also countless opportunities for employment within the industry. Some of the most common positions include bud trimmers, growers, and budtenders. If you have ever dreamed of doing what you love and loving what you do, now is the time to make that dream come true in the cannabusiness industry!

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