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Skill Building: Herbie Goes to See His Mentor, part 4

Business Cannabis Herbie Strategy

Skill Building: Herbie Goes to See His Mentor, part 4

“Now Herbie, you can’t just run off like that when things get overwhelming” chides the Mentor.  “If that’s what you plan to do, ditch the Vans and get some Nikes”. “Sorry” says a chastened Herbie. “I’m ready now”. “Industry Sectors” intones the Mentor.  “Tell me, who makes more money, a grower or a dispensary?  A testing lab or a warehouse?  Don’t answer, but that is what I mean by “sectors”.  All of those businesses are in the “cannabis industry”, yet they may face very different landscapes- the hills in my earlier examples.  Which part of the industry do you want...

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Skill Building: Herbie Goes to See His Mentor, part 3

Business Cannabis Herbie Strategy

Skill Building: Herbie Goes to See His Mentor, part 3

Herbie, still thinking about what kind of dog he might like, returns to his Mentor’s “lair”.  Having had a week to mellow out, the Mentor graciously welcomes Herbie back inside and gives Herbie permission to speak. “I’ve been studying the table you laid out”, says Herbie, “and I have a question”. “Yes?” intones the Mentor. What phase are we in, and how should I be “acting”? asks Herbie. “And that”, says the Mentor “is the key question.  It depends on where you are, what sector of the industry you are in, and when you plan to be in this industry,...

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Skill Building: Herbie Goes to See His Mentor, part 2

Business Cannabis Herbie Strategy

Skill Building: Herbie Goes to See His Mentor, part 2

The Market Evolution Landscape As promised, Herbie’s mentor returns with an overview of how he says industries frequently evolve.  To Herbie’s dismay, the visual of the landscape is not a beautiful vista with lakes and birds and flowers, but a hellscape of pits and valleys, a badlands of hostile terrain where entrepreneurs like Herbie enter and are never seen again. Market Evolution Landscape   TIME>>>>>>>>>>> “What’s up with the Mentor?”, Herbie thinks to himself. “Is this for real, or is the guy getting grumpy?”  “How do I make sense of this?” Asks Herbie?  “It is not the landscape itself”, replies...

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Skill Building. Herbie goes to see his mentor, part 1.

Business Cannabis Education Herbie Strategy

Skill Building.  Herbie goes to see his mentor, part 1.

What a month!  Herbie, having received a license to operate a cannabis dispensary, has opened his doors and is now in business!  With a sense of limitless optimism, Herbie comes to work each day with a sense of joy and purpose. But something is nagging at Herbie.  An avid reader, Herbie has been studying the industry for several months.  And he is reading more and more about problems in certain markets.  Big companies losing money in Canada.  Dispensaries closing in Washington State.  Yes, people actually losing money in the cannabis industry!  How could this even be possible? Herbie, with the...

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Big Alcohol and Big Tobacco are coming!

Business Cannabis Strategy

Big Alcohol and Big Tobacco are coming!

Legalized cannabis has arrived on the east coast, heralded by the recent passage in NY and NJ of recreational adult-use laws .  Virginia goes live on July 1.  But all is not so rosy, and anyone who thinks that the experience in Colorado, Washington State and California will repeat on the east coast is seriously mistaken. Simply stated, Big Tobacco, Big Alcohol and Big Agriculture, as well as the large corporations that succeeded out west, are all eyeing the eastern markets as they anticipate Federal level legalization.  This did not happen out west, and it fundamentally changes the game. This...

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