There is no truer truism than this truth: people invest in education during chaotic times and recessions. It’s a well-known economic counter cyclical motion. And that time has arrived again with the societal disruptions caused by the COVID-19 coronavirus pandemic. If you are reading this, you survived the 2008 financial market meltdown and you’ll survive this 2020 economic malady if you invest forward.
I just published a piece over on the SMB Nation site about how technology professionals can help people (again) over the next 36-months with the secure setup of remote worker offices such as the den at home. You can read about the HERE.
As you’ll see after reading my analysis – the best thing you can do right now is invest forward in the new cannabis technology opportunity as a 420MSP community member so you are both educated and have domain expertise to provide you a new income stream moving forward. Our two-day online cannabis technology conference (June 1-2) should be on your short list of investments you want to make in yourself – learn more HERE.
Cannabis is Countercyclical
In a recession, which I am forecasting to be steep and deep (but relatively short as an event recession versus the 2008 financial recession), there are sectors that do well. I’ve already mentioned the educational sector. Grocery stores and the food supply chain remain stable – which is a win (you still gotta eat 2,000+ calories a day in good times and bad). And pawn shops, gambling and liquor capitalize on human behaviors in different ways.
The cannabis opportunity will continue to grow unimpeded over the next decade and plow through short- and long-term recessions. Here is why. Short term, as covered by Ganjapreneur (“Dispensary Sales Surge Amid Social Distancing”), dispensary sales are surging for two reasons. There is the recreational component akin to purchasing liquor for relaxation. But more important is reason number two: medical use. Patients who use cannabis for pain relief, anxiety, appetite encouragement and nausea suppression view medical cannabis as akin to an organic pharmaceutical drug (where we’re also seeing prescription fulfillment surge too). That keeps the cannabis supply chain healthy and creates continued demand for technology solutions and services from Managed Services Providers (MSPs) and IT Professionals. That is a solid near-term opportunity for the 420MSP community member.
I remain extremely optimistic about the long-term opportunities for 420MSP community members. The slow and methodical rollout of cannabis the US means you haven’t missed out on the opportunity. And with the governmental focus on the COVID-19 (Coronavirus), the state-by-state rollout will become a slower roll, allowing more time for you the MSP and IT Pro to best position yourself for future profitably by providing solutions and services. This is a positive and not a negative.
If you want to lean forward into the COVID-19 chaos and the cannabis countercyclical opportunity as a technology professional, please see if our two-day online Cannabis Tech Conference (June 1-2) is for you. Discover more HERE.