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Benzinga: Navigating Increased Industry Complexities

As a learning organization, we’re always on the lookout for new industry trends and challenges to help cannabusiness owners excel. To that end, we recently attended a Benzinga cannabis event so we could learn more about upcoming changes and add more value for our clients. 

What we learned at this cannabis event presents a reality check to the entire cannabis industry. There’s a transformation happening in that this already-complicated industry is getting even more complicated, and the psychedelic industry is adding new complexities on top of it all.

Higher Yields Consulting Benzinga Cannabis Event Takeaways for Navigating Increased Industry Complexities

But these challenges are not without their opportunities. With the right partners and an understanding of existing and emerging challenges for this ever-shifting industry, there’s plenty of potential for growth. 

Here are our top three takeaways from the Benzinga cannabis event to help you navigate new developments and potential complications.

Psilocybin: Psychedelics vs. Cannabis

Our first day at the cannabis event had us learning about psilocybin and the emerging psychedelic market. Shark Tank judge Kevin O’Leary spoke about his plans to invest in psychedelics but not cannabis, citing the psychedelic industry’s intent to gain FDA approval for medicinal use right away. 

This, when approved, will drive institutional funds into the psychedelic market. Meanwhile, O’Leary predicts the cannabis industry will become a commodity-based industry in just two years.

These side-by-side discussions of psychedelics versus cannabis were eye-opening to say the least. If you think of the two substances in terms of plants versus mushrooms and consider the stigma surrounding both, they almost seem to be cousins — related, but different. 

However, contrary to what we would have predicted, the two industries appear to be heading down completely separate paths. Instead of partners pushing progress together, the industries are emerging more as competitors and will likely put pressure on each other to raise the bar or be left behind.

Identifying & Securing Capital Partners

The second eye-opener of this cannabis event was a look back at just how far the cannabis industry has come in a relatively short amount of time, particularly when it comes to the availability of investment funds. 

Just a few years ago, with how aggressive the DEA was in shutting down cannabis operations, it was extremely difficult to find investors. Today, however, there are a plethora of capital vehicles through which to take on debt, sell equity, go public, and so on. 

With that said, there’s still room for improvement, especially for startups. While there is some seed capital available, the majority of people seem to want to invest in established businesses that have either cashflow or actual assets that are in operation.

Higher Yields Consulting Benzinga Cannabis Event Takeaways for Navigating Increased Industry Complexities

With so much progress being made — and so much progress still to be made — there’s a distinct need for partners who can help new and existing cannabusiness owners coordinate all the different entities, partners, and complexities involved in navigating the industry. 

There are a lot of partners out there who specialize in one or two aspects, but without a central hub overseeing the entire process, there’s potential for a huge loss of continuity. That’s why Higher Yields Consulting is committed to helping cannabusinesses grow all the way from concept to operational excellence. 

Filling the Real Estate Gap

Finally, our third takeaway from the Benzinga cannabis event is that when it comes to real estate, most tools and technologies out there are lacking in some capacity or another. 

So far, no other mapping tool on the market is as useful, versatile, or robust as the one we’ve developed for locating green zones nationwide. Those that do exist tend to lack in data analytics and leveraging connections, causing significant delays, or be limited to only one state or region. 

Securing the right real estate is a vital step in securing capital. While other partners aren’t as focused on mapping tools as a service, we believe this technology will lead the industry through finding properties and getting more deals done. That’s why we’ve dedicated so much time and so many resources to its development. 

Bringing Cannabis Event News to You

Through this cannabis event and other learning opportunities, we’re grateful for the ability to stay tuned into the cutting edge of the cannabis industry. 

HYC exists because we’re passionate about cannabis and the good this industry can do in the world. We’re committed to using our knowledge to help cannabusiness owners like you stay abreast of industry changes and complexities throughout your cannabis journey.

For help navigating the ever-changing world of cannabis business development, reach out to us!

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Higher Yields Cannabis Consulting

Higher Yields Cannabis Consulting

Higher Yields Consulting is a Marijuana Consulting Group comprised of industry experts with decades of combined experience in the legal industry. Whether you are looking to get into the business or already have a license we can help your business succeed. Call (844) HI-YIELD to schedule an initial consultation.

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