As the cannabis industry continues to experience a major boom, cannabis consulting has remained a significant concern. This is because entrepreneurs always seek options to grow their business and stay competitive. Therefore, there are various consulting options provided for such entrepreneurs – but they are not all beneficial. No doubt, the advances in the cannabis industry have similarly attracted both average and stupendously talented cannabis consultants.
There are cases of consultants who merely took a week-long course on the dynamics of the cannabis industry. At the same time, there are many experienced and grounded cannabis consultants out there.
Clearly, a high level of discretion and deliberate effort is required to find them out. This is why Matt Cook, a consultant and former director of Colorado’s Department of Revenue Enforcement Group, once said: “Consultants are a lot like growers – everyone you meet says he’s the best in the industry.”
So, here we have compiled ten things to consider before hiring a cannabis consultant.
1. How Much Do They Know
It is not uncommon to find persons who genuinely believe that they’re skilled in cannabis consulting and pose themselves as cannabis consultants. There are often persons who once worked in the cannabis industry or have worked with cannabis consultants such as engineers, architects, attorneys, cultivation consultants, and marketing consultants.
However, only a small percentage of these persons genuinely took their time to understand the dynamics of the cannabis industry thoroughly. Consequently, they are unable to provide cutting edge advice to their clients when approached as consultants.
To gauge the potential cannabis consultant’s degree of knowledge, you can ask them inevitable questions on topical issues in the cannabis industry. You may ask them to share their experience, success stories, and how they waded through daunting challenges. You may also look up their websites for reviews and testimonials and do due diligence by verifying them.
2. Their Clientele History
Your potential consultant’s past relationship allows you to measure the degree of their business competence and emotional intelligence. Just as how important a car’s history is, the history of a consultant’s clientele cannot be overemphasized. Asking for a physical list signals to your potential consultant that you know exactly what you want. It allows you to see their previous clients too.
This step is often considered too obvious or seemingly rude and is often neglected. Yet, this is a crucial step that should not be taken with a pinch of salt.
3.Do They Meet Your Specific Needs?
No doubt, we all want our businesses to be associated with big names. So, it feels like the natural thing to do when we approach a big shot consulting firm. However, the cannabis industry is so dynamic that consulting is required in specific fields as well from specialists.
This is why, for example, a one-stop-shop for both cultivation and dispensary needs may seem like they can handle it all. Meanwhile, they’re probably weak in marketing consulting, which is precisely what you require.
So, you also need to take your time to decide the specific area that requires consulting. Here, you can also consider the bills they put forward and whether you can afford it. This way, it becomes easier to spot a niche market consultant for that specific area and employ them conveniently.
4. Do They Have Any Vision For Your Business?
Beyond being knowledgeable and meeting your specific needs, a potential cannabis consultant must have an excellent vision for achieving your set goals, whether setting up a dispensary, manufacturing, and distribution business.
So, before you hire your next consultant, ask them possible solutions to your business goals. Let them note any pitfalls to avoid or recommend a solid strategy for achieving your goals. Weigh the likely outcomes of the solutions they provide. Overall, your consultant should be able to identify and walk you down a clear path. Obviously, you don’t want your time and money wasted.
5. Do They Consider your business important?
Since the introduction of their 2018 Farm Bill, advances have been made in the cannabis industry. As a result, several entrepreneurs are seeking to leverage the floodgates of immense opportunities locked up in the industry. This means that cannabis consultants would have several clients consulting with them. As a result, it is not uncommon to see many consulting firms operating in the virtual space.
However, the consultant/client relationship has such a tremendous impact on the overall success of the business. Hence, it is best to choose a consultant who can create time to meet in-person. Like any relationship in your life: when a person creates time for you, they probably consider you essential.
6. Ask About Your Competition
While finding an experienced consultant, you must also have in mind that such a consultant might be working with your competitor. It seems inevitable that a consultant has worked with a competitor at one point or the other. As such, while it can be a real struggle to find a consultant who is not working with any competitors, it is feasible.
This way, you eliminate any possible conflict of interest scenarios. What’s more, you prevent any proprietary information from being distributed.
7. Can they get things done?
There is no doubt that talk is cheap. Some cannabis consultants exude so much brilliance when talking about their success stories. But when all the chips are down, they score low on the execution of ideas. So, how do you determine if they can get things done?
First, before meeting the consultant, review their website, and other marketing materials. Pay attention to the information they provide in terms of relevance and specificity to your needs.
Secondly, look up their projects and confirm if they usually stop halfway or get to the finish line.
Thirdly, on your first meeting, observe how organized they are. Have they taken the time to learn about you? Are they prepared and speak specifically about how they will handle your project needs, or do they only answer questions with general ideas?
On a final note, hiring a cannabis consulting is as important as excelling in the industry itself. So, when you want to hire a consultant, the listed considerations should take priority.