Did I mention compliance?
With July 1 2011 just around the corner, the industry focus has been very directly centered on becoming, and more importantly staying, compliant with medical marijuana rules and regulation. The MMED has made over 77 pages of complicated and disorganized rules regarding medical cannabis businesses that are slated to go into effect July 1. The rules may be viewed here.
While the MMED has yet to make all the rules necessary, most have been made. Earlier this month, the CSMCC hosted a mixer with Dan Hartman (video), director of the Medical Marijuana Enforcement Division. The regulator made it clear that the MMED expects all MMJ facilities to be working toward compliance and that his department will be investigating those who are not making efforts towards these ends.
During this time frame, it is also important to note that after starting up a new center since November, I have transitioned into opening my own company. Given the work I’ve done in the medical marijuana field, this new company aligns my personal interests in helping medical cannabis centers be the best they can be.
The company, known as iComply, specializes in reducing the complicated business requirements from the MMED into simplified and business friendly checklists. This series of checklists covers the entirety of the rules and regulations from the MMED in summarized format and has been approved by the firm Black and Graham, LLC who specializes in medical marijuana law in Colorado Springs.
In addition to this valuable resource, iComply goes the extra mile to train individuals and teams responsible for sections of the iCompliance Manual on how to use it; ensuring everyone in the MMJ organization is aware of the law. iComply also assists businesses in stepping up their level of competition through process improvement initiatives, general business consulting, marketing strategies, and effective brand differentiation.
Finally, iComply clients are entitled to substantial discounts from other CSMCC service providers such as POS companies, security firms, printing and design professionals, cannabis testing laboratories, and MMJ attorneys.
Many times, an MMC may employ less qualified or skilled
individuals to run day to day operations. Firms may keep iComply consultants on
retainer to tackle miscellaneous projects, reports, and analyses as needed.
As the industry moves into self-legitimacy one year into Colorado’s MMJ market, many companies will struggle with increasing competition and decreasing prices. In order to survive and thrive, these participants will need edges in business to beat their competitors and stay in compliance.
The time for mom and pop shops will soon give way to commercializing entities that treat their MMJ businesses seriously. Already, major competitors are standing out while many MMJ companies still lack long term plans for their business.
Many still focus on product and profits over patients or engage in taboo tactics like sign waiving to sell their medicine. Before the industry gains social acceptance, it must be socially acceptable. The counter-culture movement behind the medicine must be kicked to the curb if patients are to have a serious voice for their health in Colorado.
Marijuana is medicine in Colorado right now, not marketable recreation.
The old adage holds true: If you fail to plan, you plan to fail.
When it comes to compliance, that plan is made and ready to be executed. The iCompliance Manual, checklists, and supplementary documents are available now. Just call 719-638-1213 and an iComply representative will be happy to help answer any questions.