When I set out to open a medical cannabis dispensary in the Chicago area, I recognized that a move into the new cannabis industry would be riddled with challenges. I decided then and there that I would draw upon the years of skills I had amassed in the healthcare field. With that said, my experience in the cannabis industry has taught me several invaluable business lessons that have shifted my business practices and outlook.
Cannabis Industry Lessons Learned
Core Value Discipline Creates Differentiation in a Commoditized Market
Considering the commoditized nature of the cannabis industry and that most licensees are non-vertically integrated (having very little control over how the medication is produced), creative means for differentiation must be employed to retain patient loyalty.
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