The Successful Canna-preneur
The Practical Guide to Thrive in the Legal Cannabis Space
JM Balbuena
Copyright JM Balbuena, 2020
All rights reserved. No part of this book may be reproduced in any form without permission in writing from the author. Reviewers may quote brief passages in reviews.
Published 2020
DISCLAIMER
No part of this publication may be reproduced or transmitted in any form or by any means, mechanical or electronic, including photocopying or recording, or by any information storage and retrieval system, or transmitted by email without permission in writing from the author.
Neither the author nor the publisher assumes any responsibility for errors, omissions, or contrary interpretations of the subject matter herein. Any perceived slight of any individual or organization is purely unintentional.
Brand and product names are trademarks or registered trademarks of their respective owners.
Cover design by Jennifer Stimson
Editor: Natasa Smirnov
Authors photo courtesy of Greg Chapman
Advance Praise
The Successful Canna-preneur is a must read for any person of color aspiring to join the cannabis industry, chalked full of practical advice and down to earth realness, this book should be a part of every aspiring canna-business owner's success toolbox.
Kristi Price, Black CannaBusiness Magazine
As a serial entrepreneur, it was refreshing to read a book that took you back to the basics, it is always good to relearn something in life and I found that over the past few years, I have been stuck in a few areas of entrepreneurship. This book reminded me of the fundamentals that I always knew but overlooked when it came to looking at the internal processes within your company, the business model and the variety of options available when it comes to raising capital. I highly suggest this book for each new cannabis entrepreneur and to be honest, even an established cannabis entrepreneur.
Adelia Carrillo, EventHi
"Entering the cannabis industry can be challenging. Johann Balbuena's guide simplifies a lot of information into a usable format for you to start your canna- preneurship journey."
Kevin Ford, Uplift Maryland
Coming from within the regulated industry, Johann's life perspective and challenges embody the legal cannapreneur journey for Americans. She provides a wide range of useful startup advice to avoid the pitfalls with practical solutions for the 1st time entrepreneur and while highlighting important considerations for the experienced cannabis business owner.
James Shih, My Green Network
For individuals curious about the cannabis industry or looking to expand in it, this book is for you! The author shares her passion for advocacy of the herbal plant as what fuels her on the many roller coasters drops, twist, turns, and sudden stops that come with being in the booming industry. In addition, she strategically provides immense value and transparency around pitfalls and potholes to avoid in order to keep money in your pocket. If you are looking to dive into the green rush, allow this simple guide to be one of your navigating tools to jumpstart your success!
Ashley Hill, Green Light Project
A secret weapon for aspiring entrepreneurs in the cannabis industry! This book is an empowering how-to guide filled with practical tools for success."
Brie Brewer, Proud Mary Network
Contents
For Jojo and Rafaela. Thank you for always believing in me.
I love you.
Foreword
IT'S AN INTERESTING TIME to write a book on the entrepreneurial opportunities around cannabis. It's still a very pioneering period, and while there are many who have staked their ground already, often in anticipation of whats coming, the opportunities still available are myriad and so promising as to cause excitement in the heart, and wonder in the mind. Its crucial to recognize there's a lot of change going onscience is advancing, laws are changing, and opinions are changing. It can seem like the ground is constantly shifting.
The Successful Canna-preneur, Johanns new book, addresses exactly those concerns which should be addressed when getting involved in the cannabis industry. In fact, Christmas Eve of last year (2019) I went to a house party and there was an individual there who sat me down and told me, You're the guy Ive been waiting for! For a couple of hours, he pumped me with drinks and hit me up with the same questions Johann addresses in this book. There is a true need for the information in this book. On a daily basis, I get emails or phone calls or messages through my website with these same questions. So, after reading Johanns book, I realized the answers I had given that gentleman was all in the book and in the same chronological order . She has followed a really nice A to Z on the subject. In fact, if you ask me, it's a workbook more than anything else.
This industry is not for the faint of heart. And because things are still changing so much, the joke in cannabis is that being in the cannabis business or being in the cannabis industry, years are measured in dog years. One year in cannabis is like seven years in any other business. Nonetheless, if you have the drive to do it, and if you use this book, this resource correctly, you truly have in a real A to Z format what I find to be an effective guide, for old pros and even for someone with no clue yet wants to get involved in this blossoming industry.
Across the globe, legalization of cannabis is coming like a wave. That can be accompanied by a lot of change, a lot of confusion, and immense opportunity for canna-preneurs . Competition is tough at both national and state levels. In the U.S. at the state level, people are freaking out because they want to get involved but they don't know quite how to. This is why a lot of doctors have not chosen to be canna-preneurs , not quite yet because at the federal level we're subject to federal law enforced by the DEA. Those of us who do put patients first and seek the most effective treatments recommend medical cannabis.
The current federal law says that if you prescribe a Schedule I drug (and cannabis is still unjustly lumped in with high-abuse-risk substances with no safe, accepted medical use such as heroin, LSD, PCP, and ecstasy), you can have your DEA license revoked. Therefore, we do not prescribe, but we recommend. As I discuss in my own book, Hope & Healing: The Case for Cannabis, by using the word recommend we are exercising our First Amendment right of Freedom of Speech (to make a recommendation) without prescribing it.
There are ways to navigate these waters as safely as possible, and as profitably, too, despite all the unpredictability. In fact, if you follow the guidelines in The Successful Canna-preneur , you will end up ahead of the game because so many others remain confused or waiting for the right time to get involved. And as any investor can tell you, thats usually too late!
You hold in your hands a great resource for getting involved as a canna-preneur, and that might involve any of a number of ways, including:
- growing cannabis
- dispensing
- a business that touches the plant
- a business that doesn't touch the plant
- a business that deals with high THC
- a business that deals with low or no THC, i.e., CBD
- an adjunct or an affiliate type business that doesn't touch the plant but is very instrumental to the growing and the managing of the plant, like finding real estate for dispensaries or helping growers find land
- producing and selling LED lights for indoor growing
- extracting
