Setting Your Cannabusiness Apart
November 09, 2017
Setting your Cannabusiness Apart
The floodgates are going to open once California shifts to a for-profit model in 2018. How are you going to distinguish your product and/or service in the market?
One thing’s for sure: You have to develop a quality product that delivers a quality experience. You don’t want to be “that guy” that races to market only to deliver a sub-par product. But, even once your product is perfected, you’re probably going to be one company out of thousands that offer a similar product. So, I’ll ask again, how are you going to distinguish your product and/or service in the market?
The answer? Branding.
YOUR COMPANY IS A MEDIA COMPANY
If you’re not already following Gary Vaynerchuk, you need to start. He’s everywhere on the internet and has multiple audiobooks on iBooks that are worth their weight in gold. Books worth looking into include: “The Thank You Economy,” “Crush it! Why NOW is the Time to Cash in on your Passion,” as well as “#ASKGARYVEE: One Entrepreneur’s Take on Leadership, Social Media, & Self Awareness.”
The point Mr. Vaynerchuk repeatedly makes is this:
No matter what type of business you are in, you need to look at yourself as a media company. You need to establish a presence online. You need to establish a brand.
SO, HOW DO YOU GO ABOUT ESTABLISHING AND PROTECTING YOUR BRAND?
1. Establish an Online Presence. Establish your Brand.
I am writing this content right now to establish myself as an authority in the cannabis industry. I regularly produce free content to do this. You need to do the same with your cannabusiness. Deliver value to people, and business will follow. Shoot a YouTube video series, offer free seminars about your products at your retail location; there is unlimited universe of marijuana content that is yet to be created. The more you create, the more your customers will buy in.
In order to deliver value, though, you need a platform. That’s where an optimized website and persistent social media presence comes in. Given the value cannabis customers place on actually seeing the product before buying it, Instagram and Pinterest seem like great places to start. Aside from just posting pictures of your products, also start thinking of content related to your product that will provide value to your customer base.
If you have the expertise or time to do code a website and optimize your content, more power to you. Otherwise, invest the money in someone that does. It doesn’t matter how good your product is if no one knows about it!
2. Protect your Intellectual Property
The law is a bit shaky when it comes to intellectual property (Trademark, Patent, and Copyright) because it is traditionally governed by Federal Law. But, pay attention to AB 64. Long story short, AB 64 is California’s answer to providing Marijuana businesses with trademark protection on a state-level, at least. Trademarking a product or business name is yet another step towards cementing your brand in the market.
3. Ensure Strict Compliance with State and Local Law
IF YOU GET SHUT DOWN, YOU CAN’T SELL YOUR PRODUCT. PERIOD. Consult with a cannabis attorney who is familiar with California law, as well as the law of the town/county you’re looking to open up shop in.
If you have any questions about establishing your brand (and protecting it) feel free to shoot me a DM on Instagram or Facebook. I’m also available by email at RyanKocotLaw@gmail.com and phone at 916-572-6445. Happy Branding!