Bubbles develop in every industry. And they get bigger and bigger and bigger…until they pop. It happened in the tech industry, it happened in the housing market and it’s gonna happen in the cannabis market. How is your business equipped to ride out a bubble in your industry?
In this episode of Business Outlaws, PRØHBTD CEO and founder Drake Sutton-Shearer joins BigMike and Chris “Bulldog” Collins for a chat about the current issues affecting the cannabis industry and what’s in store for its future. Even if you’re not in the cannabis industry, listen to this episode because understanding how regulatory changes and market bubbles work is critical for any entrepreneur. No matter what field you’re in, understanding these realities and developing strategies for coping with them are what separate bubble survivors from the businesses that die and get forgotten.
As BigMike and Sutton-Shearer talk about the cannabis industry, listen to the examples they cover and think about similar situations in your industry. As BigMike says, “growers should care about strains, but patients care about outcomes.” What are the strains and outcomes in your industry, and are you thinking about it like somebody making your product or somebody consuming it?
When you’re finished listening, go to BusinessOutlaws.com for exclusive content and behind-the-scenes footage of BigMike, Chris “Bulldog” Collins and Drake Sutton-Shearer. For even more Business Outlaws content, follow @BusinessOutlaws on Instagram.