Ask any entrepreneur what characteristics are needed to be successful and you’re likely to get a variety of answers. We checked the SBA.gov website for its perspective on what’s needed to be a successful business owner. The list includes being comfortable with risk, being independent, being persuasive, having the ability to negotiate, being creative, and having support from others. Take this a step further and you’ll find that any business also requires planning, financing and training.
But, what does it take to start and run a cannabusiness? In addition to the above characteristics, opening a medical marijuana dispensary or any cannabusiness requires a thorough understanding of a number of areas including:
- Legal – Federal law governing medical cannabis and medical cannabis is different from state law, and each state has different regulations. Knowing the laws related to distribution, cultivation, possession, and consumption for adults and medical patients is very important for the cannabusiness entrepreneur.
- Politics and History – Important political and historical cannabis events have contributed to the fabric which is the cannabis industry today. Understanding them and the current court cases and legislative decisions that impact you as a cannabis business owner are invaluable.
- Legal Rights and Responsibilities – Working with cannabis, whether for medical or adult purposes, comes with important responsibilities as well as civic rights. Do you know who qualifies for medicinal marijuana? Or, how a patient becomes qualified? What are your rights should your business be visited by police? Knowing your legal rights and responsibilities will better ensure your business will be successful.
- Cannabis Horticulture – Growing marijuana requires meticulous attention to watering, lighting, ventilation, cycles and more. Even if your cannabusiness isn’t specifically growing marijuana, understanding how growers breed plants and produce a harvest has value in your understanding of the industry.
- Methods of Ingestion – Smoking cannabis is not the only way to ingest it, especially for patients seeking the healing benefits of marijuana. In fact, cooking, extracts, vaporizing and topical applications are other common methods of ingestion.
- The Science of Cannabis – Marijuana is controversial because of the many different opinions about how it affects the human body. What do you know? Can you back up what you know with scientific evidence?
- Economics and Advocacy – As a cannabusiness owner, you are likely to become part of the ongoing conversation about the regulation and commercial cultivation of medicinal and adult use marijuana. How well do you understand the macroeconomic aspects of past, current and future cannabis regulations and markets?
Want To Learn More?
Join OU at Indo Expo in Denver November 14-16.
On Friday and Saturday, November 14 and 15, OU will present the Classic Basic Seminar from 10:00 am to 5:30 pm each day. This class teaches students the basics of owning a cannabis business including the politics, history, and science of cannabis as well as methods of ingestion, horticulture, and federal and state laws and responsibilities. OU’s Budtending Seminar, which instructs participants in the areas of patient relations, budtending, procurement and allocation, and the medical and adult regulations of Colorado’s dispensing law, will be held November 16 from 10:00 am to 1:30 pm.
Certifications are available for the Classic Basic Seminar and the combination of the Classic Basic Seminar and the Bud-Tending Seminar. Cost for the Classic Basic Seminar is $495; cost for both the Classic Basic Seminar and the Bud-Tending Seminar is $595 and includes admission into the Expo and Job Fair on Sunday. An early bird discount is available by enrolling one week before class start.
OU is also sponsoring a Public Job Fair open to the public on Sunday, November 16, from 10:00 am to 6:00 pm. Participants must be 21 years old or older; cost to participate is $20 at the door.
Not Available For the Indo Expo in Denver?
Join OU’s faculty for our seminars at the OU campus in Oakland, California. Visit the OU website for more information.