“So you want to be a [cannabis] rock and roll star?...

Then listen now to what I say…”

Says The Byrds and your author, who is regularly contacted from people looking to join the cannabis industry. I often get some variation of the question:  what are the key success factors to having a productive and fulfilling career in cannabis?

While cannabis is one of the most interesting, fulfilling sectors out there, it also a place fraught with frustration, dashed expectations and career risk. Among many considerations, I believe that prospective employees should be particularly mindful of the following:

The ‘get rich, quick’ days are over
While the industry prognosis is good, the harsh reality is that most companies are not profitable.  Many are anxiously looking for ways to secure funding and turn cash flow positive.  Valuations are down well over 60% from a year ago and there is no clear path to US legalization or Canadian regulatory reform. If you are looking for a big salary and lucrative equity grants but have no compelling cannabis experience, you may be disappointed.

Showing passion for the weed community and plant helps
One could say passion is critical in any industry but it really, really matters in cannabis. Issues like product quality, social equity, and medical cannabis pricing are front and center in branding, operations and compliance decisions.  And no, being a heavy weed user since you were a teenage does not qualify you as being knowledgeable about the plant. Being comfortable with plant science and cultivation techniques are more important these days.

Be comfortable with illogical regulations
In cannabis, government rules dictate or influence almost everything from marketing plans and IT choices to grow plans and product development. Few industries come close to the level of scrutiny you and your company will be under. And you may know tobacco or alcohol regulations, but cannabis rules are totally different, prone to change, multi-jurisdictional and often bordering on the absurd. 

Know that change is constant 
This nascent sector lacks quality data and a generally accepted playbook of strategic principles.  No two markets, whether in Canada or the United States, are the same.  For the most part, the industry is still maturing.   One must be tolerant of operational uncertainty and cultural dysfunction.  Not surprisingly, strategic pivots, organizational redesigns and management turnover are a regular feature of these operating environments. 
  
Cannabis peeps, what advice would you give these job explorers?

#employees #culture #industry #recruiting #turnover #employeeengagement