“The way we characterize the growth of the cannabis business,” said Morgan Paxhia, co-founder and chief investment officer at Poseidan Asset Management, a cannabis industry investor group, “is to measure it in dog years.”
Recreational cannabis sales began on Jan. 1, 2014 in Colorado. Less than a year later, monthly sales in Colorado have surpassed the $100 million mark, according to recreational and medical marijuana sales data from the state Department of RevenuMonthly. Marijuana has the potential to become one of the most significant game changers in the history of American businesses, compared to that of high tech and automobiles.
One industry consultant predicts 200,000 cannabis-related positions will be created this year alone. Cannabis businesses have all the same needs as any other: HR, finance marketing, public relations, construction, IT, etc. Everyone is starting to want their piece of the pot pie.
How can you break into America’s fastest growing industry? There are many different opportunities to transfer over your professional skills and functions to a legitimate cannabis company. Some positions pay more than others, and as the industry evolves, so will the positions within it. If you are currently looking for job in the marijuana industry, there are many helpful resources online like weedhire.com.
If you are looking to start your own cannabiz, there are plenty of opportunities and even more challenges for entrepreneurs. The legal marijuana business is booming, but that does not make it any easier to start a company. In fact, it is much harder to cultivate a successful startup due to the volatile market, no direct access to banks, tax regulations, and many other factors.
Despite the obstacles, many entrepreneurs and investors are not missing out on the millions of new customers that have a variety of new needs, preferences, and questions about cannabis. It may well be worth the growing pains too, as many are predicting the most successful small companies for acquisition once cannabis is legal at a federal level and large companies can join the green rush.