So You Want to Get Into Cannabis?

I HATE not being able to answer all your questions on how to get into cannabis. So I wrote a a guide for all of you who want to invest, get a job, a board seat, start a company, selling services into or otherwise get in the cannabis game.

The truth is we need the top talent in our industry, as a venture/private equity fund our portfolio companies are ALWAYS hiring --> here is our jobs board that aggregates all their opportunities.

But there is something missing here because so many of you want opportunities, and yet so many of our companies can't fill their jobs fast enough. Where is the disconnect?

This is my attempt to connect all of you with the opportunities in cannabis w/ 3 steps I would take to get smart, get exposure and learn about this industry at light speed.

Let's start here: We have a belief at EEC that we are amidst a generational wealth creation event in cannabis. That especially as valuations are depressed and institutional players have hurdles to entry there is opportunity for the strategic minded.

Given all the below:

It seems like we aren't the only ones.

At EEC we get thousands of pitchdecks a year from entrepreneurs breaking into the space, we meet with hundreds of investors a year looking to invest, and we engage with just as many service providers looking to be the picks and shovels of this new industry.

And yet if I get asked one more question more than others it is, how do I get into cannabis? Why?

CANNABIS IS BOOMING:

1. They call this... “America’s hidden job boom.”
2. You are paid more – 11% higher mean salary than average broad-based industry
3.  Opportunities are growing – 44,000 jobs created in 2019 – 35% increase YOY (In a major downturn of a market FYI)
4. All this growth means services, jobs, and opportunities will flourish. 

THE PROBLEM

Most people go after opportunities the traditional way, which DOESN’T work.

They want to get paid, get rich, and get noticed, but they do it wildly inefficiently. If you want to be in a certain industry: you interview at companies that are related, you major in a related field at college or university, you talk to people about how to get into the industry, or you go get specialized degrees that cost you thousands (aka our giant college debt problem in the US).

Let me show you why you are working much harder than you need to. If you want more than just a job, and you want to be an executive, consultant, or advisor, make sure to read this entire report until then end and go to our jobs board. This is where I’ll tell you how instead of going after jobs; you can make the jobs/opportunities come to you. How do you do that? You become an expert in your space.

You get paid to be an expert. This is not a get rich quick idea, this is you leveraging your unique skill and passion to a profitable and sustainable end. Think you don't have what it takes? In this section I give you the five steps you can take right now to know more in one week than 99.9% of the population knows on your subject matter. 

This is the beginning of my ten step plan to becoming an expert in cannabis...

Get Smart on Cannabis Fast Plan

This segment is all about how to not sound like an amateur in your interviews, pitches, and board meetings. First, I believe in conscious immersion as the best way to learn. So, when you are implementing this plan spend one weekend, just one, reading the below resources, signing up for the newsletters, and planning out a few events to attend. Then jump on in. Do not let procrastination and mental masturbation stop you from actually taking action.

Do not let procrastination and mental masturbation stop you from actually taking action.

ARE YOU READY??? Kiss that cubicle goodbye, say Sayonara to fax machines, we’re going green.

Step 1: Read Deeply

Start by going deep, every time I enter an industry I begin by picking my favorite authors and letting their 10,000 hours come to me in a fraction of that. Pick 2-3, that’s enough. You do NOT want to fall into the trap of preparation as procrastination. Your goal is to lay a foundation you will build on.

Top Books to Read:

1. Cannabis Manifesto – Great primer on the history of cannabis from Steve DeAngelo founder of Harborside
2. Cannabis Pharmacy – Deeper dive into the medicinal side of the plant
3. Women’s Guide to Cannabis – To dispel your stoner notions
4. Marijuana Grower's Handbook – For those of you with a green thumb
5. Edibles: Small Bites for the Modern Cannabis Kitchen – To understand the edibles market (and maybe make some goodies)

Step 2: Go Where The Game Is Played

This was my very first step into cannabis, I went and spoke to a group of 25,000 attendees at MJBizCon. I leveraged my unique skillset of speaking, finance, and startups to add value to a conference. This let me jump into the deep end and helped me to understand what the true opportunity was in cannabis. It was the best thing I ever did and changed my entire career. If you listen to one piece of advice, just get yourself into the game. Go see, feel, and touch what is happening with your own fingertips.

Conferences to Attend:

1. MJBizCon – By far the largest and most broad sweeping
2. Arcview – The most curated and best for startups and higher ups
3. Hall of Flowers – The best for marketing and brands
4. Canntech – The best for global and international opportunities
5. NCIA – The best for government and social activists

As you are getting your feet wet build yourself a roadmap, I use a template that looks like this you can get in our guide:

Step 3: Immerse Yourself Daily

I spend 30 minutes every morning doing a review of what is happening in the world of cannabis, pick a few of these and do the same. There is magic that happens when you constantly over time integrate yourself into your chosen field. The saying is consistency trumps intensity any day.

Newsletters & News Sources to Sign Up For:

1. Leafly – Consumer focused news and insights into cannabis
2. MJBizDaily – The most well-known cannabis and business news source
3. Green Entrepreneur – Great insight into entrepreneurship in cannabis
4. Entourage Effect Capital – We are going to announce some cool hiring resources, so stay tuned.
5. BDS Analytics – Best consumer data out there on cannabis and companies in the space.
6. Codie Sanchez – I also have a biweekly newsletter you can subscribe to that will include short snippets on building, VC’s, and cannabis.
7. Civilized – Cannabis culture, consumption trends and what’s new
8. PROHBTD – Great YouTube videos, product lists, and cultural events on cannabis. 

What astounds me continuously in life is how easy it is to become obsessed with something, follow it down the rabbit hole, and come out the other side knowing more than 99.9% of the population on that subject.

We severely overestimate the path to expertise. The path to becoming a .1% performer might very well take the 10,000 hours that experts tout, but the path to knowing what the top 10% know about an industry is a ridiculously lower bar. If you follow the 3 segments listed above to read and immerse yourself in the industry, and then create a process for systematically building upon it, you will be the top 1-10%. 

Welcome to the green side.

Come join us at one of our portfolio companies... or dive deep with the guide.

After all greatness is simply a choice.

Codie Sanchez

Follow along for more information at:

IG: @codiesanchez

EEC: www.entourageeffectcapital.com

CS: www.codiesanchez.com

This article is presented for informational purposes only, is an opinion, and is not intended to recommend any investment, and is not an offer to sell or the solicitation of an offer to purchase an interest in any current or future investment vehicle managed or sponsored by Entourage Effect Capital, LLC or its affiliates. Any such solicitation of an offer to purchase an interest will be made by a definitive private placement memorandum or other offering document.?