Is It Smart to Start a Company During a Recession?
This is a weird time we’re living in. The pandemic caused by the outbreak of COVID-19 has pulled the emergency break on how we’ve come accustomed to living our lives. Millions of people have been furloughed, our flat-out fired as a result of national stay-at-home orders (as of the publication of this post, Fortune Magazine was reporting a near 20% unemployment rate.) Businesses are forced to either close, or pivot entirely on how they engage with customers. Things seem dire, but as Dr. Ian Malcolm famously said “Life…. uh…finds a way.”
For most, a recession might seem like the absolute worst time to start your company, especially your canna-company, but some of the biggest companies you know were started during the Great Recession of 2008. WhatsApp, Uber, Pinterest, Venmo, Groupon, Instagram, Slack, Brooklinen – these are some major companies, that you probably use, that all kicked their businesses off around the time of the Great Recession.
With all this time at home, there is no time like the present to throw some gasoline on that business idea you’ve been kicking around.
Check out THIS article from Inc, and THIS article from FoxBusiness — both of which detail the struggle and hustle entrepreneurs face when working through a recession. With all this time at home, there is no time like the present to throw some gasoline on that business idea you’ve been kicking around. Cannabis businesses have been classified “essential” (with the exception of Massachusetts), and there is a lot to be said about the need for great canna products.
Ok, So What Do I Do?
We wanted to compile a list of resources we’ve put out over the years that will give you some good tools on simple things you can do to start your cannabis business. Granted, we’re a marketing company, so a lot of these are focused around best practices in building your brand, but they’re important steps in making sure your bases are covered.
BRAND + DESIGN
- 5 Logo Types and How to Use Them – Read the Article
- How should I label my CBD products? – Read the Article
- Can I make Health Claims on my labels or website? – Read the Article
- How to use Video to Promote your Canna Co – Read the Article
- How do I turn my ok Video into Awesome Video? – Read the Article
- Do you have a website? How to tell if it’s getting old. – Read the Article
- Social Media is sooooo cool. Do I even need a Website? – Read the Article
- Is SquareSpace cool? (no) – Read the Article
- I’m not fundraising, do I have an option to get online affordably? – Read the Article
- How should I host my Website? – Read the Article
- How do I claim my Google Business Listing? – Read the Article
- How do I win online? – Read the Article
- Why are Google Reviews Important? – Read the Article
- Are Social Media “Likes” Important? – Read the Article
- Can I Advertise on Facebook and Google? – Read the Article
- My Email is DankNuggz420@bong.com – is that cool? – Read the Article
- What is Google Analytics? – Read the Article
- What is SEO?? – Read the Article
- How can I Advertise Online? – Read the Article
Hopefully these articles will not only inspire you to start the cannabusiness you’ve been thinking about, but give you the right tools to get some of those big marketing questions… the “how the hell do I do this” questions, out of the way.
If you have any questions, you can email me or call (802) 391-0607.