Here we go, another issue of Marijuana Venture and another publisher’s editorial. By my count, that’s about 125 opinion pieces in the 10-plus years we’ve been publishing the magazine.
I enjoy the writing and mostly try to stick to positive subjects and/or advice based on what we’ve witnessed in the industry here in the Pacific Northwest. Sadly, while there have been plenty of industry ups, there have also been lots of downs. For every business owner whose smart planning and foresight resulted in a solid return on investment, there have been many more who didn’t make it or were victims of unforeseen problems.
Theft continues to be an issue, and the smash-and-grab crowd are still plying their unsavory trade wherever they see an opening or opportunity. I’m told it’s getting marginally better and that reinforced doors, 24-hour guards and protective bollards help. But, like all problems, it continues. One of the things that bugs me about the brazen burglaries and robberies is that they’ve happened to so many friends.
Thankfully, no one wants to steal magazines, and in that respect, I guess we’re lucky at Marijuana Venture. But hardly a week goes by when I don’t hear about a retailer friend or associate who has to clean up broken glass, replace busted doors, comfort scared employees and deal with all the other hassles associated with a violent smash-and-grab that usually involves a criminal driving a stolen car through the front door at night. A few years ago, one store owner told me that the nighttime smash-and-grab that hit his store caused more than $100,000 in damages, and that the punks who did it got away with a measly $2,500 in weed.
The moral of the story is to anticipate the possibility of theft and build your security plan accordingly. Better to pay a few thousand now to have bollards and reinforced window protection than tens of thousands later when the inevitable happens. Trust me on this.
Finally, on the subject of thefts, I think it’s high time the local police got off their hind-quarters and stepped up surveillance. While I’m sure they’re busy, it seems like the friendly local constabulary are pretty slow to respond and even slower to catch anyone.
After 10 years, we’ve seen lots of friends come and go in the industry and plenty of businesses dissolve or pivot to new models. I suppose it’s inevitable that with anything new there’s a steep learning curve initially. However, if I were to emphasize one thing over everything else, it’s this: Forget about all the fancy gimmicks, crazy stunts and attention-getting build-outs. Focus on the same things any good business focuses on: great customer service, punctuality, competitive pricing, good parking for retailers, a well-thought-out selection of products and real market research. The latter point is important. When I ran a CD-ROM software company (a top-10 publisher 20 years ago), we did a lot of research into the market. We paid big money for reports and market analysis. We wanted to know what price points worked best, what products moved the fastest, what type of packaging attracted consumers, and lots of other info that helped us refine what we did, what we produced and who we sold it to. It worked.
Gut feelings are great but rarely trump good business information and intel from a reliable source. Do your homework!
Greg James
Publisher