I highly suggest getting a Cannabis mentor as you learn more, network and start your business getting paid for consulting with Hemp or CBD manufacturing companies. Assuming you’ve already implemented all the steps on getting in the Cannabis market I go over on the ebook, then these 3 steps are your next actions to getting in the Cannabis industry.
Please master the ebook steps before moving forward.
Attending Masterminds & Networking
Depending on your personality, you can feel excited or intimidated on the subject of networking with other people in the Cannabis Market.
You can do what newbies do when they get started and learn the hard way or take the shortcut I give you here and get a head start towards your Hemp business.
This step on attending masterminds and networking is what I will be going over the most.
Ready, set, action!
Attending networking and mastermind events relating to the Cannabis and Hemp industry will vary in the area you’re at geographically.
Attending Hemp industry events with complete strangers about a common interest most likely will be intimidating, especially the first 2 times; Once you attend a few more events, it will become easier.
To me when networking or attending a mastermind, I do what I can to position myself as an authority figure so people come to me rather than me chasing people to talk about my Hemp business.
I will be going over some ways you can grow your Cannabis network and relationships in the Cannabis Industry and CBD manufacturing companies.
I will explain the power of positioning for your Cannabis business or brand.
You might be asking:
“How can I position myself so people ask me about my Hemp business?”
Assuming you are then here is your answer, this, by the way, applies to anything in general especially business psychology; The answer is Positioning 80/20.
What does this mean?
Well, there are barriers to entry and you want to be 20% towards the highest level of people in the Cannabis market, let me explain…
How will I be able to do Cannabis consulting for a business in the industry or Hemp CBD manufacturing facility?
Like I mentioned in the ebook, working inside a Cannabis or Hemp startup and seeing the day to day operation is a great way to get quick experience and be part of an already running business; This gives you a head start since startups usually operate small at the same time build your Cannabis network.
A Hemp CBD manufacturing facility that’s starting up would be a perfect opportunity to learn about the Hemp and Cannabis business and industry which can lead to your consulting business in the future, always build your Cannabis network.
Let’s say you live in a state with low population and you’re looking to network in person, well you might need to visit or move to a state where you can find successful Hemp business owners or relate Cannabis business entrepreneurs you seek to learn from; This will take research from you depending what side of the industry you seek to pursue, once you got the location then you want to research what networking and masterminds are the best in the area and who attends and also what are the events these Hemp business moguls attend so you can start attending.
Social media helps a lot when doing research on events to attend rather than going in person.
Invest in ya selfs
Another barrier to entry are costs; Sometimes the best events are Free yet most times they’re not.
Don’t be afraid to invest in yourself or your network.
If you need to start by attending free networking events or Hemp business tradeshows then do so and practice networking; You can still apply the 80/20 rule at free events and be effective…
The simplest way to put it is spending your time and efforts networking and adding value to the top 20% of people in the event with influence and authority, these are the people that everyone wants to talk to and know, some call them the “movers and shakers”; These people with influence don’t necessarily have to be the most paid, they just attract people to them naturally, this can also include people with large social media following for the Hemp or Cannabis industry; The more value you can give that influential person (within reason) the more you can stand out to them so it’s easier to approach them with your Hemp business, value can include time, money, services, connecting-networks, shout-outs, intern etc.
Give, give, give, then ask
Here’s the thing, don’t expect an instant payout by doing this technique because the payout will most likely come because of association; You see this goes back to positioning, now that you have relationships with people that have influence and authority you are looked at with more authority.
In the Cannabis or Hemp business world, this alone makes you stand out of the crowd, most people in the Cannabis market tend to be shady so it’s important to come out authentically.
Building professional relationships with top Hemp industry leaders will give you massive credibility and authority, I find creating content for social media with influential figures also drastically increases engagement on social media and increases your credibility; You see it’s not enough saying you’re legit but posting a pic with a known Cannabis mentor conveys you are, it’s important to be legit and authentic otherwise you will get a bad rep in the Cannabis market… authenticity goes a long way especially as a Cannabis or Hemp CBD manufacturing business.
Who can you add Value to & Learn from?
Seek events with Top Hemp Industry Leaders and do your research on the speakers you want to learn from or network with.
It is important to apply the mastery rule here and focus on attending the best of the best events and have a list with who you’d like to network with; Doing this will prevent distractions your way.
Before attending any networking or mastermind events, check online what people are saying; You can do this by searching the name of the event on Google, Facebook and Instagram, then read what people’s feedback.
Doing this will save you lots of time and headaches, remember the goal is to associate with the top and give them value; Doing just this can get you your next Cannabis mentor.
The top 5%
The real leaders in the Cannabis Industry don’t typically attend most events, instead, they only attend the ones where they get the most value from or events where their company is being represented such as tradeshows.
If you manage to get into exclusive events where Cannabis business moguls attend, then you automatically separate yourself from all the industry noise.
Building your positioning in the Cannabis industry just like the ebook talks about, opens the opportunity of getting invited to these exclusive masterminds.
Your Cannabis business network also helps as your more likely to get invited.
You can also search on Eventbrite or Meetup for local Cannabis Industry events and attend paid events; Doing this helps increase your Cannabis market networks, just make sure you do your research on who will be attending the event and who you’d like to network with.
The goal is to create authentic relationships which you can learn from and grow with; You can add value to them and ask if they would know the best Cannabis industry masterminds to learn and network with, this will open up your network as you start meeting more Cannabis market leaders.
If by this time you are not part of a valuable mastermind, then you can create your own and invite the people you’ve been meeting.
Having a Cannabis mentor is crucial if you’re new to the industry; Also working inside a company like a Hemp CBD manufacturing company.
Consulting with Startups
Getting a position in the Cannabis industry just like I talk about in the ebook can be the perfect school for you.
It doesn’t matter if it’s an internship or a job, you can learn by being a part of a team in the Cannabis industry.
With sufficient industry background, you can then help other newer companies going through similar hiccups succeed consulting; I experienced this while working in the industry and seeing various merchant shut business accounts overnight and the business was not able to access their money.
I was able to advice newer companies to diversify and have clear communications with their banks and merchants so that they don’t get shut down; Giving this advice made me more valuable to the company I consulted because I just saved them time and money if they take my advice as a Cannabis mentor.
Reach out to your network
If for some reason you get someone asking or requesting info on something in the market that you don’t know, then this is where your Cannabis network can be extremely useful.
If for example, you find 2 people in demand for each other, then you can connect them and you can also charge them a service fee for connecting them; Having the right Cannabis network and doing these market connections is a business in itself.
Another way of monetizing your consulting clients in your Cannabis business is by having 3-5 monthly questions for you and you answer them within that month as detailed as possible; This will also include you reaching out to your Cannabis mentor about topics you’re unsure of, this way you learn it and summarize it to your consulting clients.
Also with your already established Cannabis network, you can be of more value to companies that hire you and your network by referring each other business.
This will make you more influential and others will then want to add value to you as you grow your Hemp business and network.
The easiest way to do this is to grow a larger Hemp industry Instagram or social media page and give free shoutouts to people you want to network with and have a valuable product or message that you believe has value.
Ever thought of having your own product line for your Hemp business?
Or maybe develop a product for another Cannabis business and collect royalties from their sales?
Well, these both and more are very doable and yes it will take work.
The easiest way to create your own product would be by creating a white-label agreement with your supplier; Basically what this allows you to do is sell the exact same product your supplier sells with your label.
To white-label, it’s best to already have a client base ready to buy and also have liquid funds to buy bulk, usually, while-labels come with a high monthly minimum purchase agreement, always consult with an experienced Cannabis mentor for industry pricing.
The very basic
Let’s say you know a Hemp CBD manufacturing company that has large distribution channels that want to get into the vitamin niche.
Let’s also say you also know a vitamin manufacturer that has interest in creating a Hemp CBD white-label.
This means that your vitamin connection is willing to create his line of products with Hemp CBD and put the Hemp CBD manufacture’s label on it.
Since the CBD Hemp manufacturing business already has distribution channels, this becomes a “Plug-and-Play”.
Once they put the product together, then it will be available for sale to existing distribution channels.
A similar example of this can be seen with large retail stores such as Walmart having their line of chocolates or sugar; Walmart obviously does not manufacture these goods, they “white-label” them.
The industry is full of 3rd party white-label products available for retail sales, a true Cannabis mentor can tell which products seem the same.
Consulting with other companies that are manufacturing or others in Cannabis business is something that will come naturally the more one gets involved in the industry.
The value of connecting people
In the example above, I go over how 2 companies you network and connect can create a whole new product; Well if you connected the dots then don’t you think you should get paid?
I believe you should, especially if you’re adding value to the Hemp industry.
Let’s go over some ways you can get paid and create your position within the Cannabis market.
Introducing the parties in charge to create or launch a product is extremely valuable and can get you paid; Payment for introducing a Cannabis business with another business and generating product sales is a must since the companies would expand their business.
A great opportunity if you’re knowledgeable about the industry is to offer businesses that want to get in the industry a partnership where you serve as the Cannabis mentor to the business.
Brokering the deal
You can make your money as a broker agreement deal where you can charge money to connect businesses in your network of connections or even create your own intellectual property behind the products.
The best way I can describe how intellectual property will work would be in the formula of the product; Let’s say you have a chemist friend in the Hemp industry and together you guys create the most effective CBD oil formula, now you can patten the formula and offer other Hemp CBD manufacturing companies a plug and play solution where they can have your formulated oil with their label; You would own the intellectual rights so you can collect monthly royalties on all the sales of the Hemp business you work with.
This example is very brief and there is depth for such a deal to be successful but this is a perfect example how you can create products using an experienced Cannabis mentor and finding distribution channels by offering it to a company in a white-label deal while you owning the intellectual rights behind the product.
Like I mentioned at the beginning of this post, it’s important to create positioning and network in the industry and stay up to date with the Cannabis market, especially when consulting.
The content I post here as your Cannabis mentor works when you apply the concepts by taking actions and exploring it in your Cannabis business.
By you becoming a leader you help us all in the industry it doesn’t matter if you’re a CBD Hemp manufacturing channel or an Instagram page with news, all these efforts add up in the bigger picture of the industry.