In fact, you would be hard-pressed to find any other plant as multi-functional and multi-beneficial as hemp. And I realize you likely already know this, which is why you've been so inspired to work with this plant.
Consider that hemp seed or stock is used in clothing, rope, oil, nutrient supplements, food … not to mention all the medical and textile uses that abound today with industrial hemp!
The most exciting thing about hemp, from a business perspective, is there are so many ways to get involved in its education, manufacture, distribution, production, and/or sale.
But if you’re reading this, you probably already know how exciting hemp is as a potential business venture – and perhaps you have already begun a business with it.
First I want to affirm that, that’s great ~ and I commend you!
You’re carving a positive path for the future of humanity! We need more people to be aware of this durable wonder-plant because it is invariably essential for our planet, and not to mention crucial for our individual health.
Slowly the general population is waking up to the fact that hemp products are some of the best in the world in terms of sustainability, in manufacture, quality of production, and impact on personal health.
- What Is Your Hemp Passion?
Given all the options you could choose with regard to hemp, it can be a little overwhelming on where to begin. But consider the three main parts of the hemp plant that supply the specific hemp industries: fiber, seed and flowers.
Don’t worry so much about market volatility or potential market growth – focus more on what you are passionate about, and form your business around that.
If clothing and textiles is something you have loved for years, then focus on the manufacture and sale of hemp based clothing.
The great thing about hemp is that, from an economics point of view, there is so much demand it’s hard to pick the wrong area of specialization.
- Focus On One Product, and Make It Affordable.
No business can succeed if it has multiple competing goals.
If you are involved in the manufacturing of hemp products for sale on the market, you have to decide in the early stages of your business plan what kind of product you want sell. Best advice? Pick one that you are most passionate about, and stick with it.
That’s the advice Shaun Bailey - a hemp expert featured in ‘Growing Hemp for Profit’ - gives to those aspiring for notoriety in the world of hemp.
If you make hemp oil products and seeds, for instance, try cutting down to just hemp oil.
Your passion and knowledge for all things hemp oil will help you develop a brand that really speaks to people – as long as it’s affordable.
Part of the challenge with converting new customers to hemp is how expense it seems to be – so make sure not to price people out of your product just because it’s a ‘speciality’ item.
To new customers, all hemp products are ‘speciality’ items!
- Collaborate with an E-Commerce Site or Go Your Own Way.
If your business is in the manufacture and sale of hemp based products, you need to be looking at your digital platforms every day.
Building up your digital presence takes a lot of research and strategic planning, especially if you decide to build up your own e-commerce site.
Social media can go a long way in developing your brand and expanding your reach.
You need to isolate your niche and then work hard to dominate it with a consistent stream of fresh and exciting products and content!
If done correctly, designing and managing your own hemp webstore can be the spark in the engine that drives your business up a notch.
- Link Up with Wall Street.
This might not be an option for every small business, but it is a promising sign of things to come. Consider Seed CX, a digital commodity hub that offers hemp farmers a variety of seed types.
Getting involved in the exchange of hemp on the open market is a great way to give your business some exposure and to take part in the general strengthening of the hemp industry.
It’s important to note that Wall Street is also open to manufacturing companies that want to be publicly traded.
While any shift of this nature comes with obvious challenges, a number of companies producing hemp clothing and hemp food items have made the transition and seen positive growth.
It might be the right option for you!
- Study What Works and Improve Upon It.
Are you surprised we have not mentioned hard work yet?
We know how much work goes into running a business, but we also know you would not do it if you didn’t love it.
It’s imperative that you analyze the impact of the work you’re doing and see what is most effected.
Then simply discard what’s not working and focus on refining the things that do.
Dealing with the Stereotypes
This is one of the biggest challenges that hemp entrepreneurs and hemp business owners are dealing with today.
How to Educate the Public and Your Prospects about the Truth.
Will smoking hemp make you high? Of course not.
You know this but so many still don't know.
Does it smell bad? No. In fact it smells very nice.
It should be easy to dispel the rumors, but it’s only been since 2014 that the Federal government even allows the farming of hemp (only in certain forms, and only for research under the auspices of the Industrial Hemp Farm Bill).
The best way to get over negative stereotyping of hemp is through education and successful product design. That’s our job as business people.
It really is simple. Do you know how to take a knife out of a babies hand? You replace it with something else. You give them a toy or food or something like that.
You don't want to try ripping it out of their hand, just as you don't want to try ripping a belief out of someone's mind. It MUST be replaced with a new belief in order to be gotten rid of.
In other words, through the repetition of SHOWING people "what hemp IS," we will soon replace the negative, false belief what it is not.
For instance, people don’t realize hemp is an ancient commodity grown by the Chinese as far back as 2800 BC.
The ancient Chinese knew, and to this day know, how strong hemp fiber is for all types of textile work, including rope-making and other woven applications.
The Ancient Chinese also enjoyed hemp seeds for their nutritious properties: the seeds contain approximately 30 percent oil and contain protein (amino acids), magnesium other minerals, and fibre.
Europeans and Americans are slowly waking up to the realization that hemp has these properties and history, but it’s up to businesses like yours to keep the hemp education.
We are the one's we've been waiting for, and it's people like you, who have a passion and purpose to make a difference on this planet that actually will.
One more Bonus: Story Telling
Learn the art of storytelling. The secret to story telling is knowing you audience. Engage them on a deep level right from the start. Be vivid with your words, and get them to FEEL something.
Yes there are different techniques you can learn, which is good. But the main thing is to learn how to tell stories. Also on that point, learn how to tell your story depending on the platform you're on.
You can tell a story in 120 characters on Twitter, or even tell a good story with a simple square image on Instagram.
It’s imperative that smart business decisions are made in the early years of a company to ensure long-term stability. This is especially true with hemp because it’s potential for growth is so huge!
If you require further assistance with your marketing or branding to get your message and products out to the world, we're on a MISSION to help make your vision come to fruition.
Take a look at our different marketing services to see if we have something that can help accelerate your success.