Step 5: Cultivating a network
The South African cannabis industry is still gaining momentum after the Constitutional Court ruled it unconstitutional to be unable to use and grow weed in a private capacity. Since a large number of start-ups will launch at the same time, some of your friends in the industry will probably become your competitors at some point.
If you manage these relationships properly, you’ll be able to create a healthy circle of support and advice even amongst your competitors. At the ground level of the marijuana industry, it could follow in America’s footsteps and become highly community orientated.
Ensure you reach out to industry leaders, especially those located near your business, to determine if they’re open to talking about your idea and a plan of action. Talking to business owners who already operate in your potential market can help you understand the environment better and help you adjust your plan should they reveal something unexpected.
Why you need a high-quality social media profile
“It’s shocking how many deals come through social media,” says Cheryl Shuman, founder of the Beverly Hills Cannabis Club and named one of the most powerful women in the industry by Fortune magazine.
Since there will be so many eyes on your social media you need to ensure you carefully curate your profile. “There are some shady outfits out there, so you have to be set apart and have a professional image,” says Noa Kahner, founder of Kahner Global, a broker for investors and cannabis entrepreneurs.
Kahner shares that having a family-centric approach helps her business maintain a credible, trusted standing within the marijuana industry.
How social media assists with brand building
If you present a strong narrative and image on your social media platforms, this can lead to cultivating a successful brand. On the other hand, a weak social media strategy can negatively impact your business, potentially even giving it a bad reputation, which could decrease your sales.
If you want to be a successful start-up business you should have at the very least a Facebook and Twitter page, if you want to reach a large audience you should also have Instagram.
Twitter is the most lenient of the three previously mentioned social networks with regard to the type of cannabis content it allows, according to Emily Cegielski, new editor at the Observer. She continues to say that Instagram can be more useful for any brand when trying to build a community and convert users into customers.
“You’ll be fine posting pictures of weed on Instagram; just stay away from photos of trashy girls wearing skimpy clothes and things like that,” she says. “I’ve seen a lot of Instagram accounts get closed for that.” In fact, Facebook and Instagram are notorious for shutting down cannabis-related accounts.