I tell UCLA Anderson MBAs My Story (video)

The 32nd annual CREATE Conference at UCLA Anderson was one of the first business school events in the world to feature a cannabis panel. I had the pleasure of speaking on the mainstage with five different sides of the cannabis puzzle.

• Dr. Jeff Chen, director of the National Institute of Cannabis Endocannabinoid Research and Founder of the Cannabis Research Group at UCLA.

• Christian Groh (pronounced "grow" no kidding) COO of Privateer Holdings an investment fund with companies such as Leafly-which receives 11 million visitors a month, Tilray-a medical cannabis cultivator in Canada, and Marley Natural-the licensed Bob Marley cannabis brand. Christian comes from a traditional VC investment background at Silicon Valley Bank and brings the important private equity perspective to this conversation.

• Kenny Morrison, founder of VCC Brands, is a UCLA drop-out now invited back to the business school as a CEO. Kenny shared how his cannabis sales experience started in college and then matured into one of the largest edible brands in California & Washington recently. Kenny shared his perspective from the product, branding, and lobbying he leads.

• Jim Baudino, VP of Marketing at Merry Jane, is a UCLA Anderson graduate and 10 year veteran of Toyota. Jim talked about representing cannabis culture and SnoopDogg's cannabis company portfolio.

My Best Advice for Female Entrepreneurs

After crossing paths with thousands of female leaders, there were 3 things I learned. There were 3 things that made being a female leader fundamentally different and frankly I was going about leading the wrong way. I've kept this video private for a while because I had barely learned these lessons in time for this speech but this is the best advice I've ever given to female entrepreneurs.

Stoney Sunday with Coral Reefer & Jazmin Hupp

This was one of my favorite interviews on women and cannabis. Coral Reefer is the first female cannabis vlogger that I saw build an incredible community to support her. She has since transitioned back to civilian life but we had tons of fun with this Thanksgiving weekend broadcast in 2015. We go into depth on talking to your mom about marijuana. And yes you get to see me dab on camera :)

CannaInsider Interview with Jazmin Hupp

In true Cannabis social media fashion, the CannaInsider was banned from YouTube in the years since this podcast from 2015. The transcript still remains though! In it, I share all the information on why women will be successful at running cannabis businesses and how to get started.

Full Transcript

Matthew: Hi, I’m Matthew Kind. Every Monday and Wednesday look for a fresh episode where I’ll take you behind the scenes and interview the leaders of the rapidly evolving cannabis industry. Learn more at www.cannainsider.com. That’s www.cannainsider.com. Are you looking for a fulfilling and lucrative career in the cannabis industry? Visit www.cannainsider.com/careers. That’s www.cannainsider.com/careers.

Now here’s your program. Women Grow connects, educates and empowers cannabis industry leaders by creating community and events for aspiring and current business executives. I am pleased to welcome Jazmin Hupp, Co-Founder and Executive Director of Women Grow to CannaInsider today. Welcome Jazmin.

Jazmin: Thank you so much for having me.

Matthew: Sure. To give us a sense of geography where are you today?

Jazmin: I am mostly based out of a suitcase. Today I am in New York City. Women Grow was founded in Denver. The majority of our national staff are there, but I have bases in New York City and San Francisco, but I’m mostly on the road. We have chapters operating in 20 cities, and my goal is to visit every city at least once a year.

Matthew: Wow. For listeners that may not have heard of Women Grow in the past, can you just give us a high level overview of what it is?

Jazmin: Sure. Women Grow is a professional networking organization that supports female leaders in all segments of the cannabis industry. Our goal, as you said, is to connect, educate and empower women to lead America’s fastest growing industry. Our largest program is the signature networking events which our held on the first Thursday of every month in 20 cities across the country. We also hold cooperative events with the top conferences, host webinars, publish a lot of content. And on February 12th we recently brought together 76 women in cannabis in Washington, D.C. Then I flew to San Francisco, held an event for 200 entrepreneurs and investors called Creating Cannabis Products for Women featuring 6 of the top female cannabis business owners in the Bay Area. And then I went to the Emerald Triangle and met with women organizing in Humboldt. That’s a pretty typical month for me in Women Grow.

Matthew: Jazmin you’re so lazy. We’re going to have to talk to somebody about that.

Jazmin: Of course.

Matthew: Now I want to rewind a little bit. I want to talk about the, you know, making cannabis products more friendly to women, but I want to rewind a little bit to back in the very beginning with you and Jane. What was the impetus to start Women Grow? What was the conversation you were having with Jane, and how did women grow spark? What was the first spark where you said we got to do this?

Jazmin: Sure. And you’ve interviewed Jane before so I will have to reference your listeners to her edition to get her perspective on it because of course it’s a little different from mine. But Women Grow was announced at NCIA’s national conference last June by Jane, and I was sitting in the audience. Jane had organized the top women business owners in Colorado who wanted more women to join the industry but had run out of steam to do it in their spare time.

She had been producing events for international organizations like UNICEF and G Medical. I had launched six businesses before this and had about a decade of practice in branding and communications. And I had been working with an organization called Women 2.0 based in the Bay Area. And Women 2.0’s mission was to get an equal amount of venture capital funding for women in technology, and I had helped Women 2.0 from grow from the Bay Area to do events in 6 countries for about 100,000 entrepreneurs. But even after 9 years of Women 2.0 only about 4% to 6% of venture capital funding goes to women which severely limits the types of technology products we see on the market. The script for how technology funding worked had already been written and it wasn’t inclusive. Coincidentally Jane had fashioned the Women Grow launch after Women 2.0. So we decided it was meant to be and started collaborating right away.

Matthew: Great idea. Now there are a lot of different areas under the cannabis umbrella where women can get involved, but they may not be aware of all the different ways they can get involved in the cannabis industry. Could you name a few to help add some color around that?

Jazmin: Sure. Well your audience is probably a lot more sophisticated about the types of cannabis businesses out there because you’re interviewing all these great people. But a lot of people start out thinking that there’s only two jobs in cannabis. Either you’re producing cannabis products or you’re selling them. And the truth is that this is a multibillion dollar industry with dozens of different specialties.

Some of the areas that I don’t see a lot of competition in, but I think women are particularly great at are cloning banks, trim crew services, HR services, marketing and training. We have a webinar that should be available by the time this podcast is released. It goes into depth about all the different industry opportunities and how to decide which one might be right for you.

Matthew: Great point. We also interviewed one of the founding members of Women Grow from Cannabis Trainers, Maureen McNamara. And she’s an excellent trainer. So that’s to your point, you know, there is a lot of opportunities in training as the other aspects you mentioned. Now for women that are in states where cannabis is currently not legal, what should they do? Should they just wait or is there any opportunities to get started doing something now?

Jazmin: Yeah, you’ll notice that a lot of the successful business owners in cannabis actually came from the legalization movement. Working to legalize in your state will instantly connect you with other like minded people, educate you on all the issues and give you the confidence to move forward. Additionally having women help write this legislation make it more likely that the final results appeal to women who are often cited as the swing vote in legalization. And it helps make sure that the final results are fair and inclusive.So if you’re in a prohibition state, find the legalization organizations near your and volunteer. Some of the groups that we partner with are NORML, Students for Sensible Drug Policy, Marijuana Policy Project, MAPS which is the Multidisciplinary Associate for Psychedelic Studies and so on. And so get connected with those folks and start volunteering and start making a difference.

Matthew: That’s an excellent point about the volunteering and activism because you are dead right. There is so many people I’ve met that are really leaders in the space from a commercial side that have their origin story in the activism. So it was a natural progression. So a lot of people out there what are listening that are wondering how to get in that is an excellent suggestion. Now you were recently at Lobby Days, what is that and why is it important?

Jazmin: We just had our first annual Lobby Day event, and it was a fantastic experience for everybody that attended. To steal a line from my friend Joe Brezny, “If you’re in the marijuana business, you are now also in the policy business”. And the cannabis industry is one of the most closely regulated, and we don’t expect that to change any time soon. Unlike most developed industries where multibillion dollar companies pay hoards of lobbyists, there are actually few lobbyists involved in cannabis. So each individual person can actually make a big impact on how we get to serve patients. After 80 years of Reefer Madness, the staffers creating marijuana policy may know very little about what we do and why we do it. So we have to show up and tell them.As you would expect from an industry that is legal at the state level but illegal federally, there are a lot of conflicts to be resolved in a short term. So as your listeners probably know, access to banking for cannabis businesses is spotty at best. One of our founding members,Brook leads the Live Green Group in Colorado, and they’ve lost 34 bank accounts over the last five years. Last year they did over $10 million in revenue and didn’t have banking services for half of that. So forcing these cannabis businesses to be conducted in cash benefits no one, and that’s why we were there supporting HR 2652 which is the Marijuana Business Access to Banking Act of 2013. Notice it’s of 2013 because we’re still trying to get this passed.The second major conflict that we were working on is the section of the tax code called 280E. I don’t know if your listeners are familiar with 280E.

Matthew: Sure, you can cover that briefly.

Jazmin: Well so 280E prohibits businesses involved with drug trafficking from deducting normal business expenses from their income. This was written so that drug cartels couldn’t write off their speed boats for example. Unfortunately the IRS has interpreted that to apply to our state legal cannabis businesses. So many dispensaries pay 50% to 70% of their net income, not profit, income in federal taxes because they can’t write off salaries, health insurance, retirement benefits, business equipment, rent, marketing, utilities, so on. Cannabis business owners want to pay their fair share of taxes, but we need to make it fair.

Matthew: Gosh that is totally unfair. You’re right. Now you have somewhat of a controversial position on women’s purchasing decisions of cannabis. Can you talk a little bit about that?

Jazmin: Yes. Women are going to be the dominant cannabis product buyers after national legalization. Right now it appears that more men than women consume cannabis, but that’s mostly related to its illegal status and the types of products on the market, not because there’s anything about cannabis that’s better for men versus women. Once prohibition is lifted cannabis products become just like any other household good, and we know women already control the majority of household spending. On top of that women are more likely to be diagnosed with a chronic illness, more like to try alternative health therapy, and are more likely to be in charge of the wellness decisions for their families. One on five women will face depression. One in eight will face breast cancer. There is no scenario where I can imagine where women don’t become the dominant buyers of cannabis products.

Matthew: Right so make your cannabis products very women friendly and how do they do that?

Jazmin: Well the first step is to get more diversity on your leadership and marketing teams. Having an inclusive team where people of all genders and colors are heard are going to help you make the best decisions day in and day out for your brand to attract an inclusive audience. I especially encourage you to pick a woman to run your social media marketing. We’re seeing a ton of brands take the easy route for quick attention by posting bikini babes with bongs. If you’re treating women like decoration to attract men instead of serious customers, you’re missing out on a loyal audience. A loyal audience that very few brands are actively serving. I think anyone who probably picked up a podcast with Women Grow on it gets this, and I can’t wait to see the new products and services you come up with. The guys with their heads stuck in the sand will be quickly surpassed.

Matthew: Now is there any examples you’ve seen recently of companies that have put out in the market women friendly cannabis products that you were impressed with?

Jazmin: Absolutely. We’re seeing a lot of great work being done on the edibles front to serve a more diverse customer than just candies or cookies. So in Colorado one of our founding members is Julie Dooley, and Julie’s Baked Goods specializes in gluten free edibles with no refined sugar. Which honestly she was just a patient on the market who had to be gluten free herself due to a health concern, and there were no products available on the market for her. And so she brought those products out to the market and they’re wildly popular. We have another brand called Auntie Delores out of California who sponsors Women Grow who is going to rapidly expand into multistate operations because they’re creating products that just nobody else was in a brand that’s friendly to both men and women.

Matthew: You know one other thing that Julie Dooley is doing that’s interesting is she actually names the strain too on her edibles so you know exactly, it allows you to dial in your experience which is very helpful which I don’t see a lot of edibles doing. I know Julianna and Lauren at Auntie Delores, you know, they talk a lot about their ingredients and being very transparent with the ingredients and that’s helpful. And they also talk about, you know, doing things that other people aren’t doing. They’re like hey there’s a lot of chocolate bars out there, we’re not going to make a chocolate bar. So being innovative in that way I think really helps you stand out. So great points. Now Women Grow is still a young organization. Where do you see it going? I mean even since we had Jane on, maybe Q3 of last year, it’s changed. The scope has changed. How are things evolving? Where do you see it going in the next few years?

Jazmin: I mean it was just since you’ve interviewed her we really seen what an amazing opportunity we have to create a new industry with a new script that’s diverse from the very very beginning. This is an industry that’s going to serve people of all colors, of all genders, of all ages, and the best way to do that is to invite all of those people into the industry. So from our humble beginnings as a professional networking organization we’re now working to create programs to push women into the cannabis and up to the top.

Our monthly events in 20 cities are a great introduction to the cannabis industry for women. They can learn a bit about the industry in a supportive environment without quitting their day job or investing $1,000 up front. We hope that our events and content online are part of a very successful research phase that convinces them to get their first job or launch their first company in cannabis. From there we hope they attend one of our national events like our leadership summit which teaches women how to grow and expand their businesses to rise to the top of the market. And we’re just going to keep going from there.

Matthew: So walk me through what it’s like to attend a Women Grow event. For someone that’s walking in for the first time, what can they experience? What’s it like? What do they do? How long do they last? What’s the vibe like?

Jazmin: So our monthly networking events in these 20 cities across the United States are the first Thursday of every month. So you have a consistent time and place that you can plan to, you know, make your first entry or your fifth entry into the cannabis market. And that was something that no other organization across the country was offering was a consistent, pre-planned time to meet which seems so simple, but consistency is one of the things that this industry is lacking on many levels.

So when you arrive we hope that you will be greeted with a crowd that is the exact opposite in ratio from what you would see at a typical cannabis industry event. The majority of cannabis industry events are about 80% men and 20% women, and our events are the exact flip of that. So you’re going to have 80% women and about 20% men at our events. You’re going to have time to mix and mingle. And again these people tend to be very open and welcoming. The marijuana industry is blue ocean right now, blue sky. There’s no reason for us to even treat each other like competition because the market is going to be large enough that there is room for everyone right now. And then we listen to an industry speaker and get a current perspective on what’s going on in the market.

This is an industry that’s difficult to research online. Remember it was illegal not too long ago, and it’s still illegal in a lot of states. So there’s not a ton of information available online. You really do have to show up in person and talk to the folks doing this and do the research on your feet to really get a sense of where the market’s going and where you might belong in it. So you’ll get some great information from an industry speaker. And then we do some sort of activity at almost every meeting that will force you to introduce yourself to as many people as possible. So for example my meeting here in New York, we go around the room and everyone gets up for 15 seconds and just says who they are and what they’re interested in so that after we have the speaker people can just jet over to meeting new people. When is the last time you went to a networking event and knew all 50 people in the room, that’s the type of event that we hope to create.

Matthew: Do you have an example of a woman that came to Women Grow and didn’t have any background or history in the cannabis industry and was successful in kind of breaking into it, because I want to leave listeners with actionable information or examples on how they can get into it. You mentioned a little bit about the social media and women tend to gravitate to that because they’re good at it. That’s an excellent way you can provide value I think out of the gate. Do you have any other examples of how women kind of busted into the industry with no previous background into it?

Jazmin: Sure. I think a lot of people think that you know you had to be an underground grower for the last 20 years to be a part of this industry, but the truth is the vast majority of people getting into this industry are new to the industry. They’ve got great professional backgrounds in maybe related fields, but being new doesn’t make you unqualified. It just makes you kind of like everybody else. And so one example is we had a member come out to our Denver chapter named Lauren Gibbs, and she runs a business that does social media strategy and was able to very quickly assess what the cannabis industry needed in comparison to our other clients, and now has cannabis clients within her larger social media strategy business.

Matthew: Now there’s a lot of cannabis companies out there that are looking to get their brand out there in a national way, and you offer some sponsorship opportunities that I think do this well because everything is so compartmentalized in states or cities. Can you talk a little bit about the sponsorship opportunities you have?

Jazmin: Absolutely. Like you said there are very few national organizations in cannabis. I actually was just in Humboldt County last week, and the women there asked me well what are the women doing at a national level. How are the women organizing at a national level? And I kind of looked over my shoulder and I was like oh shoot we are the women organized at a national level. There really isn’t anybody else. And that applies to the industry in general is that there’s only a very few organizations working on a national, and we’re lucky enough to be one of those.

We’ve been really fortunate to have nearly 50 companies come out to support making cannabis an inclusive industry, and in order to make our events as affordable as possible we depend on this companies who want to be known for attracting female customers and female employees to sponsor us, and that covers the majority of our expenses. So if anything I’ve said resonates with you and you want to be part of creating something awesome, email Julie@womengrow.com to talk about those sponsorship options. The cannabis industry will never be this small again. And so your small gesture now can make a big change to our collective future.

Matthew: And before we close, you were just on a bunch of trips all around the country. Can you just give us a few nuggets of what you learned or key takeaways, you know, visiting different people in different parts of the country?

Jazmin: Oh wow. I mean I think the thing that you learn the most is that this is a very very local industry, and what is so stunning to me is how different everything is, you know, in Colorado versus Washington and Washington versus California. And then once you get within California the difference between Humboldt and L.A. they’re just different planets. So I guess my first advice is to recognize that to the outside world we may look like one cohesive industry, but there is actually so much happening and so much that varies depending on the local level, and that’s why we do have these local chapters that can talk to people about what’s happening locally in their state because a program that I might give in San Francisco that generates a ton of interest… so for example we did Creating Cannabis Products for Women for 200 in San Francisco and we got great feedback from people who said yes I’m going to start my business now, yes that really encouraged me to start fundraising, yes that was exactly what I wanted to hear. And then I drove up to Humboldt and started talking to women there about becoming executives and leading the industry and they were like hold the phone, we don’t think of ourselves as executives. We think of ourselves as farmers. We don’t think of, you know, we’re not out here to lead an industry. We’re out here to protect our families and to protect our livelihood. It’s just a whole different mindset and a whole different set of priorities. So I think the first tip is just to remember just how actually diverse the industry is.

Matthew: Now for women listening right now, you said 20% of the people that come to you, the different chapters are men, do men come? What are the reasons that men come?

Jazmin: Men come because they are very smart and they know that what we’ve got going on is pretty powerful. Many come just as a support to a female executive on their team. The guys who come they tell me that they understand how well connected and how fiercely intelligent the women are that are a part of this industry, and they want to be a part of that. They’re looking for female cofounders. They’re looking to add women to their team, and we’re a great event for that.

Matthew: Now as we close how can listeners learn more about Women Grow online?

Jazmin: Definitely go to www.womengrow.com and sign up for our list. That’s how we publish all of our future events, all of our content. Go to our blog and just read everything I’ve ever written about how to research the industry, how to figure out what event is right for you in the industry. We also encourage you to make a plan to attend a national conference this year if you haven’t already attended a national conference. It’s a great way to give you a good picture of the industry, and we host kick off events for the largest of the national conferences. So you can join us in May in Chicago. In June we’ll be in both New York City and Denver, and in November we’ll be in Las Vegas, and we do these kick off events to set you up to be more successful and make connections there. You can also follow Women Grow on Facebook and on Twitter.

Matthew: Jazmin thanks so much for being on CannaInsider today. We really appreciate it.

Jazmin: Absolutely. Thank you Matt.

Matthew: If you enjoyed the show today, please consider leaving us a review on iTunes, Stitcher or whatever app you might be using to listen to the show. Every five star review helps us to bring the best guests to you. Learn more at www.cannainsider.com/itunes. What are the five disruptive trends that will shape the cannabis industry in the next five years? Find out with your free report at www.cannainsider.com/trends. Have a suggestion for an awesome guest on www.cannainsider.com, email us feedback at cannainsider.com. We would love to hear from you.

How to Name Your Cannabis Business

34 Examples of Branding Blunders for Cannabis Businesses To Head

Best, Ok, & Bad Cannabis Brand Names

Cannabis Business Edibles Freezer Case

Business names tend to fall into one the above categories. There are the best business names that lift the business and the brand. They are easy to remember and customers like them. Think JetBlue, Amazon, Twitter, Under Armor, Restoration Hardware and others. Ok business names don't help or hurt you. They tend to be family names or just unrelated but common words (Breyer's, Harvard, Apple). Bad brand names are detrimental or require explanation. They may be difficult to spell or remember–like skincare company Kinerase. Or they may be easily confused with a competitor's brand: Berkeley College and UC Berkeley.  Finally, your company name could be hard to pronounce so your customers might talk about your company less because they don't know how to say it (Hoegaarden).

1. Resist Green & Leaf Motifs

Listen! The first thing you must do is make your cannabis business look like just your own. Make everything you can look proprietary and custom to you. This starts with your logo not looking just like every other cannabis brand around–with lots of green and marijuana leaves. I know you live and breath your brand but customers are easily confused. Make your brand stand out by not looking like anyone else.

2. Don't Add "420"

Notice how what was "BP Petroleum" is now just "BP"? The energy business has changed since BP was originally named Anglo-Persian Oil Company in 1909. In 2001 they spent tons trying to show they were more than just oil by shortening their official name to "BP" in their marketing. (Too bad their 2010 oil spill in the Gulf of Mexico was the largest accidental oil release in history.) The point is! Pick a name that is not dependent on one line of products. You never know where your cannabis business product lines will be in 5 or 50 years.

3. Give Your Cannabis Business Name Room to Expand

Zappos founders chose the Spanish word for shoes instead of Shoes.com because they knew one day their brand would expand to do more than just sell shoes. By choosing a brand name that doesn't connect you to only one product or vendor, you'll be able to adapt your business over many years as the market changes.

4. Make It Short

Longer names are harder to remember. Aim for two words or less.

5. Make It Memorable

I know your brand name means a lot to you but your customer may only think about you a few times a year. Make it easy to remember, which more importantly, makes it more likely that they'll tell their friends.

6. Make It Easy To Spell

Remember that the first way most potential customers are going to look at you is online through your website. If searching for your brand name is hard (because they can't spell it) you're going to have to spend more on Google Adwords to make up the web traffic.

7. If You Pick A Local Name, Your Cannabis Business Can't Move

Denver Dispensary sounds great now but what happens when you want to open a second location in Seattle? There's a long tradition of boring, location-base company names. Avoid adding the name of your street, neighborhood or town if possible.

What Are Your Cannabis Branding Challenges?

Leave them in the comments or get in touch for a workshop designed just for your cannabis brand team in Manhattan, Denver, or Seattle.

How To Create A Responsible & Effective Cannabis Brand

The first annual Cannabis Business Summit wrapped up today with an overview of how Cannabis companies should shape their brand and marketing strategies. Taylor West, Deputy Director of the National Cannabis Industry Association, led a session with Kali & Bridget from Agent 64.

Culture Movements Are Not Marketing Gimmicks

Bridget believes that Cannabis legalization is a cultural movement, which means you are now a part of the cultural movement.

"Culture movements define an idea on the rise."

We have a huge responsibility to shape how the public perceives Cannabis going forward. Unlike traditional product marketing, which starts with the product, Bridget encouraged the audience to define their cannabis brand based on the culture movement and not on the product.

Integrated Marketing

I believe in integrated marketing, where every touch point from the front door to the website is shaped by marketing. Bridget spoke about the importance of looking at every single customer touch point and making it consistent no matter where you're interacting with your customers.

Why Market Responsibly

1. It's The Right Thing To Do: We are building a brand new cannabis industry from scratch and we have the opportunity to be the example. Let's skip the bad marketing to children from industries that came before us (Marlboro's Joe the Camel).
2. Don't Screw This Up For Everyone: This is an industry that is in a very volatile position. Your work in the cannabis industry reflects on the entire industry.
3. The Medical Credibility of Cannabis Is At Stake: Unless you are in Washington and Colorado, you are marketing a medical product. When you don't market cannabis responsibility you are hurting the chances of people discovering or having access to the medical benefits of the plant.
4. You Need New Customers: If you'd like to grow your business, you have to start thinking beyond your current customer base.

"Think about customers not in your traditional demographic."

Think about marketing to women. Think about senior citizens. Think about health care professionals. At the very least–you need to not actively repeal these groups. At the most–you need to attract these segments to your brand.

Define Your Brand Promise

This is the most important thing you can do. Living and breathing your brand promise from CEO to budtender shapes your entire company.Build Your Golden Circle: Define why you do it. Then how you do it. Then what you do. Simon Sinek's TED talk explains exactly why you need to do this.

Marketing Strategies

This is no different than the marketing strategy process for most industries. If you haven't been through this process before, find someone who has to guide you.

1. Define your customer segments: Who are you going to talk to and what do they want?
2. Find the white space: Where is there opportunity in the market that isn't currently saturated?
3. Figure out what unique about your brand: What do you stand for that other's don't? What is truly important to you?
4. Define your brand promise: Notice all that research and thought you need to do before you could define this?
5. Pick your target profile: What is the age, income, gender, location, etc. of your target customer?

Customer Retention

• Customer surveys: Ask you customers how they heard about you. Why they choose you. Make sure you know what makes you different from your customer's perspective.
• Brand design: What does the design of your brand tell customers about you?
• Customer database management: Do you know who your customers are and what they're buying? Personalize your marketing to your customers exact needs whenever possible. Many companies wait until they are quite large to setup robust customer analytics, missing years of data that could reveal where and how they should have grown.
• Online/social media: This is an industry that was used to darker corners. Today you need to take control of social media and your public perception actively. Options for paid social media are limited but that may not last forever. You need to build community now.

Responsible Marketing 101

• Don't Market to Children: Perhaps the most important thing to remember.
• Don't Market Like Children: Put forth a face that is professional and polished. If you take beer as an analog to cannabis, remember that no one is ever drunk in a beer commercial. Sell your experience. Your experience goes far beyond "getting high".
• Don't Alienate 50% of the Population: You can segment your marketing without actively offending women. Women are actually more likely to have a chronic illness, more likely to try alternative medicines, and more likely to control a family's medical decisions. Women aren't decoration for your ads.

What They See is What You Are

No matter what you think your mission–what your customers see is what they will define you as. This extends to your logo, signage, employees, and more. You need everything that makes up your company to be true to your brand.

What They See is What WE Are

As an industry. All Cannabis companies are affected by the images being put out by the Cannabis industry. From legislation nationally to your home district, the marketing being done in this industry will affect how the Cannabis industry proceeds (or doesn't). You have the power to shape our collective future so we hope you take it very seriously.Photo from Barbary Coast MMJ Dispensary, San Francisco

Prioritizing Product Features for Cannabis Companies

Maybe you're designing the next Vape sensation or the next killer weed app. Whether you're starting a MMJ dispensary or working on your next edibles brand, product feature strategy will be vital to your success. (If you're opening a marijuana retailer, just replace the word "product" with "store" features.) You can always add more features but which ones matter most to your customers and which can you execute?

Picking Your Target Audience

Everyone wants to sell their products to everyone. But the truth is, you need to narrow down on who your most profitable customers will be. Even though lots of different types of people shop at Trader Joe's, the company makes many decisions by targeting a specific customer: “An unemployed college professor who drives a very, very, very used Volvo." You'd have no idea that their clear target customer is what helps make the South Pacific theme with matching specialty food at low prices so cohesive (and profitable).A clear target audience will allow you to make core strategy calls like:

• Product Line Decisions - "What products do my customer need?"
• Product Feature Decisions - "What does my target customer want most?"
• Location Decisions - "Where does my target customer shop?"
• Pricing Decisions - "How much does my target customer have to spend?"
• Advertising Decisions - "What would influence my target customer to try my brand?"

If you keep a target customer group in mind when making strategic decisions, the end result will be a cohesive product that has the potential to sell.

Picking Product Features

Let's say I'm designing a bud vaporizer targeted at glaucoma patients over 50. You can brainstorm a hundred features that you could add to this vaporizer but how do you choose which ones you should focus on? You have competitors that are developing new vaporizers with larger staffs than you, so you better move fast to keep up. Luckily you only have too weight two factors:

1. What features will differentiate my product from the competition? (In a way that won't be instantly copied.) AND
2. What features will my customers PAY for? (Extra features are nice but if it won't lead to more sales, skip it.)

Number two is a little deceiving. This includes features you can and can not advertise. Features that your customers love and tell their friends about ("looks like a USB stick so it's easy to get passed airport security") are just as important as features you can put in a big headline ("lightest vape on the market").

Prioritizing Product Features By Execution

Business success thought-leader John Spence, boils his Wharton School of Business class into one sentence:Successful Strategy = Valued Differentiation x Effective ExecutionIf you're chosen product features that differentiate you, then the most important factor to your success is which features can you effectively execute? In his book, Letters to a CEO, John Spence breaks this down:

• Highly differentiated but not valued by your target customer = bankruptcy
• Highly valued but easy to copy = price war (and there is always someone willing to drop their prices and go into bankruptcy faster than you)
• Highly valued and defensibly differentiated but not executable = bankruptcy
• Highly valued, defensibly differentiated, well executed = business success

If you can pick the features that you can effectively deliver to an audience primed for your product, your cannabis brand will be in great shape. Making the plans is often a lot easier than actually executing on them. John reminds us that "Great creative ideas abound; flawless execution of those ideas is exceedingly rare."