Growth Beyond the Greenhouse: Hidden Benefits of Recruiting Skilled Management in the Cannabis Industry
Invest in people.
It seems like a no-brainer right? You want to work with good people and you want intelligent, skilled people to help run your business. Regardless of supply and demand in the job market, the saying holds true: you get what you pay for.
The benefits to recruiting and hiring experienced, educated, or skilled labor are endless – benefits that are greatly outweighed by the increased salary owner/operators are often reluctant to pay. Even the most experienced business owners should repeatedly assess their personal or company weaknesses in order to build partnerships with or hire those who complement their strengths.
From grow systems to extraction, standard operations are becoming increasingly automated. As such, it is tempting to avoid investing in potential skilled hires when your account or profit margin seems the number one concern. However, not hiring (or not appropriately compensating) skilled managers can wreak a different kind of havoc on your business: the threat of becoming a one-dimensional, rigid business unprepared for unexpected turns in the industry and ill-positioned for creative growth.
HYC will highlight five hidden benefits to hiring skilled employees over the next two weeks. A bite-sized, reminder that there is always room to grow and strengthen your business. . . beyond the greenhouse.
ONE: Your business is only as robust as your collective experience.
Depending on the individual and their previous experiences, every new hire or contract represents an opportunity to expand your MJ business through diversity. An opportunity to bring creative methods from other seemingly unrelated industries such as real estate or production engineering. Learning how others have been successful in industries that deal in assets, production, marketing, etc. holds an inherent, but often overlooked, value to an owner/operator’s business. The prior experiences of employees can prove invaluable to a business at the most unexpected times, but especially at critical tipping points – when a business is on teetering on the edge of growing or dying.
Hiring from outside the marijuana industry adds a valuable dimension to your operations. When hiring from within the industry, there is legitimate business value in finding creative, cutting edge personnel. Independent creativity coupled with the opportunity to share ideas and concerns is what can ultimately outmatch the branding budgets of the big dogs. Diversify experiences. Invite creativity.
TWO Skilled management helps share the load.
Hire for skill, hire for trust. Responsible and capable people are an incredible asset to small business growth. Any new role requires direction and initial guiding, but when you invest in self-starters with experience, the isn’t a need for extensive oversight. Managers should instantly take a load off your plate, not add to the many aspects of your business you are already balancing.
MJ business owners and store managers are taxed with all of the typical day-to-day challenges of running a small start-up business… with the added industry hurdles of becoming proficient in real estate, MJ law, marketing/branding, garden efficiency, compliance, distribution, and more. Any experienced manager, likely wears many, many hats of their own. So delegating without micro-managing builds trust – saving your business time, increasing owner/operator efficiency, and providing higher return on investments.