Michael Mejer, Founder, Green Lane Communication
The expressions, “your network is your net worth” and “you are the average of the five people you surround yourself with” couldn’t be more true in business, but these phrases are especially true in the cannabis industry.
Navigating the daily changes in federal and state regulations is near impossible when working in silos. It’s best to network with other professionals that have the knowledge, information, or strengths you don’t. Let’s be honest: you’re not perfect at everything. It’s critical to supplement your weaknesses with a curated network of people that you can trust. Only then will you be in a better position to succeed in cannabis.
From personal experience, I can confidently say that having a supportive network in cannabis is more valuable than any short-term dollar amount. Throughout my years in the cannabis community, I’ve met dozens of brilliant people. Being able to learn from their mistakes, their headaches, growing pains, and their wins, has not only taught me so much about what to do and what not to do to grow my business in cannabis, but it’s also saved me an unbelievable amount of time. And it’s because of these colleagues (many turned friends) that were willing to share their journeys and lessons they’ve learned with me that have helped strengthen my ability to level up in my career.
The strongest foundation you can stand on as a business leader in cannabis is made up of a robust network of people you trust and respect.
Networking and the Positive Impact It Brings to Cannabis Leaders and Their Businesses
Networking helps cannabis professionals overcome challenges that are unique to the industry, even when regulations teeter on change each day. Here are some reasons why:
You Don’t Have All the Answers
There’s only so much information that one person can have. Sharing and soaking up information to and from others in the space is the only way that professionals in cannabis can overcome challenges in this industry. Here’s a hard truth: thinking that you alone have all the solutions, is arrogant and ignorant, and it will likely cause you (and even your business) to fail.
Networking Helps You Stay Resilient
Having a strong support system will help you stay resilient in the face of shifting regulations and market trends. You want to have a trusted network of advisors or a circle of colleagues that you can always call on as a soundboard. By collaborating with these groups, you can identify key action items that everyone can take to address challenges, shifting trends, or regulatory changes.
Having a Strong Network Fosters Innovation
Ever hear that saying, “if you’re the smartest person in the room, you’re in the wrong room?” It’s true! You should strive to always be learning from other people. You could be the best at coming up with ideas, but may have a huge blind spot when it comes to actually bringing those ideas to fruition. And maybe the trait or knowledge you’re missing is what you need to put the finishing touches on your next product, service, or solution—whatever it may be.
Collaboration Leads to Business Growth
Industry connections can often lead to major growth opportunities. Consider the process of hiring in a founder-led business to advance the vision the founder started. Ego can often hinder this process, but the companies that thrive are those that collaborate effectively, whether by hiring talented team members, partnering with outside professionals or vendors, or forming a strategic board of advisors. By doing so, they fill their knowledge gaps and move the business forward, bringing their ideas to life in ways that wouldn’t have been possible if they had tried to do it all alone.
For instance, earlier this year, I hired a publicity assistant I found through networking with a trusted colleague of mine. Because this person came highly recommended by said colleague, I was able to eliminate a lot of guesswork whether they’d be a good fit for the job. And lo and behold, this person is crushing it, helping our business scale.
Key Strategies Cannabis Professionals Can Use to Build Meaningful Relationships Within the Industry
Have a Clear Understanding of Your Role in the Industry
You need to know your specific role in cannabis to better understand who else you need in your corner to succeed in the industry. From there, identify your strengths and weaknesses, and seek out people—whether online, at conferences, or trade shows—who can help you. This could mean offering to support their success or connect them with someone who can, or it could mean reaching out and asking for help yourself.
Keep Your Word
If you don’t keep your word, and you don’t deliver on your promises, word gets around fast. And the harsh truth is nobody will want to do any kind of business with you or even be willing to have a conversation with you.
Get Out of Your Comfort Zone
Attend industry conferences, trade shows, smaller local and regional events to find people you want in your circle. But above all else, put yourself in uncomfortable situations where you might not know anybody. But go up to them, shake hands, and start a conversation to find out what people are involved in, how you can help them, and vice versa. You’ll be surprised to find this action leads to many great friendships, open doors, and partnerships that will fuel the growth of your business.
Be Genuine
To build meaningful connections, you need to truly understand the people you’re working with and how they prefer to receive information. This requires a genuine interest in getting to know them, their work, and their motivations. That’s what makes networking effective—versus the superficial exchange of business cards in hopes of landing new business. True networking isn’t about being salesy or chasing quick wins; it’s about empathy, vulnerability, and intentionality.
Pay it Forward
It’s important to make yourself accessible to those who could benefit from your help—people who may be in the same situation you were in years ago, wishing they had access to someone like you. It’s a way to pay it forward and help good people rise above and succeed in their goals.
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© Cannabis Business Executive
