The Cannabis industry has seen a boom in business consulting, which provides entrepreneurs with many options to grow their businesses. There are not all options that are good for your business. The industry is thriving and has attracted some unqualified consultants who are eager to make quick green. There are many consultants. These consultants could be owners of highly successful marijuana businesses or someone who just took a week-long course about segments of the industry.
There are many reliable, fair, and experienced cannabis consultant‘s out there. It just takes some effort to find them. Even those with little experience in Cannabis can use their business knowledge to benefit the Marijuana market. Despite this, the pool is just as large as it is deep.
1. Request A List Of Previous Clienteles
Ask your consultant about past client relationships before you sign on. It is a good idea to look into the history of any potential consultant before you sign on. Asking for a list of clients in person will show your potential consultant you have the knowledge and experience to help you make an informed decision.
This is similar to a prospective employer calling references from a resume. Although this may seem like a simple step, many business owners neglect it because they are too busy or trying to find the best deal.
2. Think About Your Specific Needs
Many business owners look for the best consulting firms. A company that claims it is a one-stop shop for cultivation and dispensary needs may appear to have “got it going on.” However, they might be lacking in knowledge in other areas. Consider what you are looking for and find a niche market consultant to help you determine it.
3. Sure You Are Important
Existing consultants are turning to them as they seek new business opportunities, as more states have legalized Marijuana online. Online Marijuana Design hopes that the entire country will soon be able to participate in the Marijuana revolution. It is important to have a good relationship with your consultant.
This can make a huge difference in the success of your business. This is like any other relationship you might have. If someone is too busy to meet you, they probably don’t value you as much. It doesn’t have to be a deal-breaker. Some veteran consultants have satellite offices in other states. However, a good consultant must be willing to spend time with you.
4. Don’t Accept To Part With Equity Just Because It Sounds Easier
Consultants are increasingly asking for equity or partial ownership within their company. Although it might seem like the easiest form of “payment”, there are many red flags. First, if the consultant is part-owner of multiple companies similar to yours, there will be a conflict of interest situation. You don’t want to be concerned about whether your consultant may harm you or benefit another competitor.
There is always the possibility that these ownership stakes could violate local ownership laws. Finally, it is important to follow the traditional payment-for-service standard so that your consultant doesn’t interfere with business areas he/she might not be familiar with.
5. Ask Your Competition Questions
It is almost inevitable that a consultant has not worked with at least one competitor in the past. While experience is important, you don’t want someone who doesn’t have to keep up with the government restrictions regarding the number of business licenses. Although it can be difficult to find a consultant that isn’t working with competitors, it is possible. This will eliminate potential conflicts of interest as discussed above and prevent the distribution of proprietary information.