Entrepreneurship is a wonderful path to be on, one full of challenges and adventures that folks with regular 9-to-5 day jobs simply don’t get to experience. Of course, with all the excitement of being your own boss and reinventing the wheel also comes the uncertainty of trying to make it with no promise of success. Still, if you’ve chosen entrepreneurship as your career path, you’re in for a wild and wondrous ride.
Despite its shady past of questionable legality, the cannabis business is a good one to be in as an entrepreneur in the United States. The U.S. is (slowly) inching its way towards acceptance of marijuana use as perfectly fine, a trend that’s exemplified by New York State recently authorizing marijuana for recreational use, instead of only in the form of medical marijuana, as it had been prior. It seems that each passing day brings with it news of shifting legality when it comes to marijuana use, along with the legal repercussions, such as commuting sentences of those who had been serving time for marijuana use in state and federal prisons.
While it’s not as though the FDA (Food and Drug Administration) has come out and issued a blanket statement declaring marijuana use fine by federal law (not by a long shot!), the medical use and recreational use of compounds found in the marijuana plant are becoming more commonly legal under state laws. It’s common to see Brooklyn cafés offering CBD lattes and to see ads for CBD edibles on Instagram. If you’re excited about the opportunities inherent in this burgeoning market, you should be. That said, is it enough to be motivated by medical marijuana, or do you need to get an MBA before opening your very own cannabusiness?
The more you know about marijuana use, the better your business will be.
Even if you’ve been dabbling in marijuana for personal use for a while, you still need to be apprised of everything that’s happening with the legality of the substance at both a state and federal level. As mentioned above, the U.S. is on a path to acceptance, but there are a lot of steps on that path. The FDA authorized a CBD-based drug, Epidiolex, for seizures, for example. That being said, there are plenty of limitations on Epidiolex, and that certainly doesn’t mean that you can make any medical claims about the cannabinoids you’re selling without knowing exactly the type of legal liability you’re taking on yourself. If you’ll be selling any CBD or THC-based products, you’ll want the support of a reliable website like American Marijuana, where you can stay up to date on all the very latest information you need to succeed in the market.
The more business know-how you have, the more you’ll succeed.
Just like you need to be in the know about side effects of medical marijuana and CBD oil, and whether those substances are even legal for sale in New York, Vermont, Nevada, the District of Columbia, or Maine, you also need to stay aware of new innovations in the world of business. This doesn’t mean, though, that you need to move to a new state, or even city, to get a master’s degree in business administration. An Ohio MBA online is just as good as an Ohio MBA in person, and staying put will even mean that your MBA comes at a lower cost to you. If you plan to make it big in business, an MBA is worth your while, so don’t let the GMAT or other requirements make you hesitate. An MBA program will give you the savvy you need to set you apart from the rest of the marijuana companies out there.
Read more: How can an MBA degree help you?