Partnering with a celebrity is helpful, but no longer enough, as Cannabis industry shows signs of accelerating maturity.

Excitement is in the air as several eastern states embrace legalized cannabis.  Celebrities from across the entertainment spectrum have signed on as pitch-men and in some cases owners or partial owners as the competition heats up for licensing opportunities.

 

But caution flags are emerging from more established markets- billion dollar caution flags.  Both Oregon and Canada have experienced dramatic oversupply, resulting in shakeouts, falling prices, layoffs and very large losses for some early entrants.

 

So as we celebrate another 420 holiday, let’s keep our eyes properly focused on the business prize.

 

 See: After ‘Green Rush,’ Canada’s Legal Pot Suppliers Are       Stumbling https://nyti.ms/3amuzLj

 See: Oregon Marijuana Surplus a Cautionary Tale for Other States

https://www.pewtrusts.org/en/research-and-analysis/blogs/stateline/2019/07/11/oregon-marijuana-surplus-a-cautionary-tale-for-other-states

 

What these articles describe is simply classic business evolution that, in the case of a hyped, attractive industry, repeats itself again and again.

 

And it points to the need for competent, innovative management, in addition to partnerships with celebrity entertainers and politicians.  And this is where the Mid Atlantic Growers Association sets itself apart.

 

Trained at Harvard, McKinsey and a number of blue chip corporations, including AT&T, Aetna and General Electric, the Mid Atlantic Growers Association’s founding member will implement, as one of MAGA’s core objectives, a “curriculum” of business excellence which will be provided to our members free of charge, as a benefit of membership.

 

And we will sponsor educational webinars, seminars and events aimed at ensuring that our members are successful in the industry.

 

So simply partnering with a celebrity is not enough.  And when everyone partners with a celebrity, it no longer sets you apart at all. 

 

Cannabis entrepreneurs should also pursue Excellence in Business Knowledge in order to navigate the challenging, but potentially lucrative times ahead.

 

The Mid Atlantic Growers Association.  Pursuing Excellence in Business.


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