California’s legal cannabis industry is an aspiring entrepreneur’s wet dream. A popular commodity that has been illegal for almost a century is back on the legal market, innumerable business models are being created, and opportunities to get into the industry are ripe.
That’s the exciting part.
I’ve been told that anywhere from seven to nine out of every ten start-up businesses will fail in the first five years. This includes the cannabis industry.
A dismal fact, unfortunately, but an objective one.
Now, living in a realistic world, entrepreneurs must think to themselves, “what will prevent my business from being one of the almost 75% of businesses that fail?”
In my experience reporting on, working for, and interacting with a variety of cannabis businesses, I would say the answer to that question lies in the product, business model and people. When these factors are exceptional, I believe that businesses will defy the overwhelming odds of failing.
Though I can’t really tell you how to sell the best product or create the best business model, I can tell you where to find the best people: industry events.
Whether you want a job, have an idea, have an industry-leading company, or you’re an investor looking to work with a start-up, events that bring people together in the cannabis industry are a great way to surround yourself with the people that will create and help your success.
Now for the kicker — SCCBIG events provide a community atmosphere and bring together people from all ends of the industry. At the first event I attended, an edible company had a free-sample table set up in between a security company, a lighting company, and a CBD bar.
At that event, I met someone who gave me my first job in the cannabis industry. It’s as simple as that.