Being experienced entrepreneurs, marketers and strategists, and history buffs to boot, we were struck by how uncannily similar the medical/legal marijuana industry is to where the alcoholic beverage industry was in the waning days of Prohibition. Which made us go back to what happened to the industry, brands and manufacturers, from a strategy and marketing standpoint, when Prohibition was repealed.
It is our firm belief, and contention, that the industry and the businesses involved in it will experience similar disruptions and face like challenges when marijuana becomes legal in more states (or at the federal level). These disruptions and challenges will be enormous and the stakes are tremendous, as the estimated size of the market indicate (for instance, Colorado marijuana sales, medical and recreational combined, topped $700 million in 2014).
At the same time, due to the fragmentation of the market, the history of marijuana and its usage in the US, and the industry’s development stage (infancy best describes it), the producers and manufacturers have not being able to run like normal businesses or market their brands professionally. These issues will be magnified when legalization (at the state of federal levels) takes hold.
Our mission as we see it is simple: use the years of experience our team has accumulated in the financial, marketing, advertising, executive and operational areas of businesses in more traditional industries, and apply that knowledge and expertise to helping businesses position themselves for success, and navigate the many challenges posed by legalization, in this very lucrative market which is posed for explosive growth.