Help Solve the Biggest Problem in the Cannabis Industry

This week’s topic has been all about trade organizations.

So why would a tech platform believe in partnering with a trade organization?

At our heart, we believe in global sharing of best practices and knowledge, and working together with other professionals to achieve our industry goals.

This makes trade orgs the perfect partners because they share these values.

Our friends at Las Vegas Medical Marijuana Association, President John Laub and Vice President Jim Lamb, compiled this list of reasons why it’s beneficial for you as a professional to join a trade organization. For the good of yourself, but also for the good of the industry.

Without further ado, here’s the list:

Why should you join a trade organization?

  • To learn as much as you can about your industry
  • To meet others in the industry who can give you insights
  • To find new opportunities for you and your company
  • To develop your leadership skills
  • To develop lifelong friendships

Why should your company join a trade organization?

  • To learn about new products, regulations and competitive insights
  • To leverage the network of an organization for new opportunities and talent
  • To be part of the voice of the industry
  • To improve the image of the industry
  • To work together with regulatory agencies
  • To help the industry self-regulate
  • To save money through combined purchasing
  • To develop relationships with other companies in the industry
  • To work together to promote the industry
  • To build up goodwill for the company with the community
  • To lobby the local, state and federal governments to improve regulations

Education: This is a rapidly changing industry with new products, regulations and legal challenges. Besides presentations and classes, considerable insights can be gained from meeting others in the industry. Knowledge is power. Forewarned is forearmed. Winners learn as much as they can.

More Opportunities: Trade organizations are seen as sources of information on the industry and the players. Investors reach out to the trade organizations with opportunities.

Personal Development: Trade organizations allow opportunities to develop and demonstrate leadership skills within the organization that can used at companies.

Networking: Everybody needs to develop a network within the industry as a source of information and future opportunities.

Talent: Trade organizations can identify talent for the industry.

Improve the image of the industry: Perception is reality. Trade organizations should be constantly reaching out to community leaders on a continuous basis to discuss issues. Trade organizations can provide speakers to groups such as Rotary, Kiwanis, Lions and other groups. Trade organizations can also organize and promote charitable outreach to their community.

Work with regulatory agencies: Agencies like to have points of contacts in order to reach the industry easily. It allows the industry to work closely with regulators.

Self–regulate: It is much easier and better if the industry can identify problems and fix them before the regulators.

Save money through combined purchasing: As a trade organization, companies together can set up programs that individually they could not get such as D&O insurance and health care. In addition, there are discounts available for trade organizations on common products.

Promote the industry: A trade organization can promote the industry through advertising, press releases, and events that help everyone in the industry.

Lobbying: Trade organizations are perfectly suited to lobbying. Politicians like to deal with one or two organizations that represent the industry. In turn the trade organization can provide support for politicians that work with the industry.