Written by: Richard Fitzpatrick
On the above bar graph, you’ll see a distinct pattern that suggests it typically takes two-and-a-half years for a state to get a regulated medical marijuana program operational. I share this research because I feel it is vital that such a possible time-line be understood by those considering becoming involved in this new regulated industry. Whether applying for a state license to grow plants, to produce products, to test, transport or sell medical marijuana – it is essential to recognize it is conceivable for there to be 18 months from start-up until the time when positive cash flow will begin to trickle in. This paradigm is also important to understand for the ancillary businesses and services that will be marketing to Michigan’s new $700 million a year medical marijuana industry.
If you are a business owner you have probably heard that blogging is important for your business, but have you ever stopped to think about how blogging could actually benefit your business? This is especially important for cannabis industry businesses. Most marketing efforts have to be done organically using content marketing because a lot of marijuana businesses aren't allowed to pay for Google Adwords. Here at Canna Media Works, we know that a blog is an essential marketing tool. The founder of New Marketing Labs Chris Brogan once said, "No matter what, the very first piece of social media real estate I'd start with is a blog," and there is a very good reason for that.