Have you always wondered how to overcome objectives in business? Whether you are running a profitable marketing company or a cannabis retailer many businesses face the same types of objectives from, staying profitable, reducing costs, staying ahead of your competition and so much more. Being a small business entrepreneur provides new challenges every day. Take a look around the emerging cannabis industry, and it is clear they are facing the same growing pains and challenges that only the most well-run businesses are surviving. Join Harry and Dan as they discuss some of the objections and obstacles some of your clients may be facing and how you can assist them in overcoming them.
When entering an emerging vertical it is often more difficult than it first appears. Many companies underestimate vendor relations, building clientele, marketing, and basic vertical information. With the cannabis vertical emerging in more and more states the RSPA has started a cannabis community meet up to help bridge some of the gaps people entering the vertical are feeling.
This group was built to help provide a platform to promote knowledge sharing and peer learning, as well as to build relationships and or partnerships within the vertical. Watch as Jim shares his knowledge on this emerging vertical and how you can get involved with the RSPA Cannabis Community Meetup.
As the market for Hemp and Cannabis is exploding there are more and more questions arising on how to stay in compliance with state and federal regulations. As many of you know, regulations differ between states and municipalities, however, there are certain guidelines that everyone has to follow. With the sheer number of regulations and requirements that businesses must follow it is more important than ever to educate yourself so you and your clients can stay in compliance with the current laws and regulations. Maintaining compliance and staying ahead of the curve may be difficult with the constant changes however, it is essential to preserving your reputation and your license to operate. To stay head of the curve you should not only design a compliance program (operations and workflow) that you follow, but also work on staying educated in areas such as HIPAA compliance (for medical marijuana), rules and regulations around storage of information (drivers licenses, social security), backup regulations, and reporting. Watch as Mike and Harry touch on some important compliance issues many businesses are facing.
RSPA has build a Cannabis Community that helps members meet, network and team to help providers foster business development, business insights, and share experiences. As the indusrty is growing each day and business needs are changing it is more important than ever to build relationships, and partnerships with like minded professions to help expand your offerings and services to businesses. RSPA has done a fantastic job of fostering these relations and building a great community of members. Watch and learn more about the importance of community groups and partnerships.
With record wildfires on the West Coast causing significant set backs to outdoor growth, many harvesters are facing challenges with their crops. These challenges range from the health and safety of employees, loss of light to the plant from smoke, potential toxins in the plants, and so much more. Major concerns about what the smoke contains, including heavy metals or other toxins can cause buds to get tainted by airborne toxins like pesticides, ash, fire retardant, building materials, and more. When these toxins enter the plant and the plant is sent to testing, testing results are showing arsenic making the plant unusable and potentially harmful for consumers. With so many growers facing these problems many are seeking out other alternatives such as indoor grow operations, opening huge opportunities for technology, HVAC systems, and more. Watch as Luis and Harry chat about the opportunities the fires are causing.
With medical and recreational cannabis expected to reach into the billions by 2023, and the ever changing landscape unique risks for cannabis businesses are popping up every day. With many businesses just starting out and finances being stretched thin, business insurance can fill in the gaps to make sure both your personal assets and your business assets are fully protected from unexpected disasters. Although cannabis is not legal in all states there are still many insurance companies who insure all aspects of the industry including cultivation, production, dispensing and sales of cannabis. Scott joins 420MSP to discuss different insurance options and tips for looking for insurance.
In states where marijuana has been legalized, marijuana tax revenue is often channeled toward education in the form of funds. Although, most states have allocated tax revenue from cannabis to education, Colorado has taken this to the next level. In Colorado tax revenue collected from the sales of cannabis is deposited into two different funds, the Building Excellent Schools Today Fund (BEST), and the Marijuana tax revenue cash fund. The BEST fund is to be used to renew or replace deteriorating public schools and has been approved to receive the first $40 million in excise tax revenue from cannabis. In 20-21 the BEST funds were awarded to 36 projects with a total construction cost of $234,957,051. Watch Harry and Blake as they chat about cannabis taxes.
With the Cannabis industry being relatively new, and changing daily it is not surprising that many sales associates don’t know a lot about the products they are selling. Many dispensaries spend months building their inventory and bringing in a ton of different products which they are excited to share with employees and customers, however, retail associates are falling short in providing customers the most accurate information about the products they are selling. With many uneducated associates businesses are struggling to build trust and connections with customers that can endure beyond a single purchase. Ryan Porter CEO of Toptender has developed a training and education platform built to engage the cannabis industry. Watch as Ryan shows Harry the ins and outs of the platform.
There are many different ways to grow marijuana in a variety of environments. Louisiana is a great example of this as it has a vast range of terrains from bayous and brackish water to hilly terrain with lakes and rivers, and even some valleys and flatlands. With all of these different environments, Louisiana is testing out growing different strains in different areas, and what grows best. With these different environments there will be a lot of trial and error, however, growing marijuana in Louisiana will still requires a lot knowledge of different methods as well as a properly planned growing setup. Watch as Harry and Chuck explore environmental effects in grows.
Canada hit the two year mark of the government regulating recreational cannabis, with many highs and lows over the years. Although, Canada has hit the two year mark customers are still getting their cannabis from the black market. In recent surveys it was predicted that only 21% of cannabis is purchased legally, showing Canada still has a lot of ground to cover. Watch as we go over the highs and lows of the past two years, and how the US can learn from Canada.
With the pandemic in full force digital transformation (the process of using technology to make day to day business processes easier, faster, and more profitable) is becoming more and more prevalent in the cannabis industry. With so many changes being thrust on to companies not only with changing technology, but also with restrictions from the pandemic, it is more important now than ever for businesses to engage in digital transformation, as customers expect their experience with businesses to be seamless with at least as much technology as they have in their personal lives. Watch as Harry and Josh chat about what digital transformations are the most important, and how you can easily implement them into your clients businesses.
With voting right around the corner many New Jersey residents are wondering if the bill will pass to legalize marijuana? If approved it is estimated that the recreational marijuana industry would reach between $850 to $950 million in sales by the year 2024 because of the dense populations, as well as being bordered by states that have not legalized marijuana, New York and Pennsylvania. Although, recent polling indicates that the proposal has strong support among New Jersey voters, we will have to see what the final verdict is. Join Harry, Tara and Assemblyman Joe Danielsen as they talk about how the bill was created, and what we can expect to see in the future.