Each month, we publish a newsletter discussing a trending topic within the cannabis industry and how it shapes Surna’s philosophy. To be one of the first to receive this information, be sure to sign up for our email list.
As the cannabis industry evolves and finds itself within the larger economy, there has been much debate about what the industry will become. There is much talk about “Big Marijuana” becoming similar to that of “Big Tobacco” and the dangers such an industry shift would pose. However, with the cannabis industry still in a relative infancy, it is still possible for us to shape the course of the industry to be something we can all be proud of, something that works within the larger community to work towards the better.
A report from the Brookings Institute released earlier this month suggests it is not only possible, but highly likely that the cannabis industry will become more like the alcohol industry than the tobacco industry. This is a highly favorable outlook as people generally approve of the alcohol industry and the way it handles itself. Additionally, unlike the tobacco industry, the alcohol industry, and hopefully the cannabis industry, allows for both large and small companies to thrive. In fact, “larger companies will actually contribute to making the smaller companies better.”
As the report states, “Concern should be bad marijuana, not big marijuana.”
The legal cannabis industry has a chance to improve upon the cannabis market by focusing on being a force for good, supporting the positive development of our community and being as efficient as possible.
After all, according to the report, companies that “treat their endeavors as traditional businesses that produce a nontraditional product are much more likely to succeed.” At the heart of the cannabis industry, this is what needs to happen. The industry needs to be allowed to grow and foster competition like any other, while also focusing on what makes the product unique, starting with production.
Cannabis production requires a number of different factors and, “producing bud that meets consumer expectations is a difficult agricultural endeavor requiring more than seed, soil and sun.” It requires passion. Passion to create the best product possible and the desire to create a strong, legal industry.
As the cannabis industry grows, it is important to remember that “producing at scale generates efficiencies.” These stated efficiencies ultimately lead to a healthy, competitive industry where we can all thrive. The best way to stay competitive in the growing industry is to keep an eye on operational costs and make your business as efficient as possible.
Energy efficient equipment plays a large role in decreasing monthly operating costs and allowing businesses to be more competitive. It is also important to look at operating procedures that allow for the creation of a consistent product, crop after crop. After all, as with any industry, the brands that thrive will not only be the most efficient, they will also be the most consistent. “Consumers come to expect consistent quality, and that each time they purchase a product – no matter where or when they bought it – they are getting the same experience as last time.”
Take a moment to look around your business and see if it is contributing to the standard you want the cannabis industry to uphold. If not, start with small changes, such as adding more efficient equipment or air sanitation, or by streamlining procedures to make your product more consistent, or by becoming part of the larger community. Together, we can all create a legal cannabis industry to be proud of, an industry other industries want to be like.