As the cannabis industry has expanded, so has the demand for cannabis consultants. It’s not surprising that cannabis advisors can help you take your business to new heights. Not all cannabis advisors are created equal.
There are many options for cannabis consultants. This article will share essential tips with you on how to find the right cannabis consultant for your business. It’s a much larger and more diverse pool than you might think. Every person you meet will say they are the best, just as cannabis brands. Let’s now take a look at the ways you can find the best professional cannabis licensing consultancy for your business.
1. Locate Consultants For Your Specific Needs
It is a common mistake to select the biggest name in cannabis consulting and offer an all-in-one solution. Avoid any company that claims it can provide all your advice needs in all areas of the cannabis industry. It’s important to take the time to discuss the specific needs of your company so that you can find a qualified and experienced cannabis consultant.
You can also analyze your company’s success to determine the type of advice you need. If you only require assistance in one area, it might be better to hire multiple cannabis consultants. Although it might be more expensive upfront, having multiple advisors can save you time and money over the long term. Some consulting companies claim to do everything but at a lower price.
2. Investigate Past Clients ToEstablish Relationships
Researching the background of a cannabis consultant is a smart idea, even if they are referred by a trusted friend. You can search for reviews and visit their website. Also, you can look through their social media accounts, especially LinkedIn. You can request a list of their past clients. If you are interested in getting to know past clients, you can reach out to them to get their feedback. It’s like looking at references for potential employees. Do not rush through the process. Instead, take the time to find honest reviews about the advisor you are considering. You want to find the right consultant for you the first time.
3. Consider Twice Before You Pay With Equity
It is a common practice for cannabis consultants to request equity within their company rather than a standard salary. This may sound simple, but it could cause problems down the road. Your advisor could be part owner of similar cannabis companies to yours. This could lead to conflicts of interest. There is also the possibility that equity could be violated by local ownership laws. You don’t want your organization being used to benefit another advisor. It’s usually a red flag when a cannabis consultant requests equity in payment. If you offer equity as payment, make sure to do your research.
4. Discuss Promised Results
Ask the consultant to describe their process and how they intend on achieving the results that they promise. Trustworthy advisors should be open about their processes and willing to share their methods.
It is up to the consultant to work with you in producing results, not just analysis reports. They should also be passionate about what they do and how it can make a difference in your company’s future. For certain situations, sticking to a plan is not always the best option. Your advisor should spend time learning about your company so that they can adjust their process to suit.
Communication is key in any relationship. Discuss the approach of the cannabis consultant to communication and feedback loops. The best cannabis consultants will have enough time to manage all client tasks while still responding quickly to your questions. They should also have a schedule for contacting you, even if it’s just to check in and see if there are any questions. It’s great if they are open to receiving feedback during their communication process.
Everybody communicates differently so it’s admirable that they are willing to adjust to your preferences. To ensure a strong business relationship, it is important to be open to feedback.