At the CompTIA show in Las Vegas, I caught up with Harry Brelsford of 420MSP, which specializes in finding opportunities for emerging markets. Harry is an absolute pro at this, marrying business and technology, using analytics, and scoping out those opportunities as they arise. I wanted to get some insight as to his secrets, and he told me about his latest venture - Cannabis Managed Service Provider.
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The legality of cannabis as a recreational product has followed its legalization for medicinal use. In fact, as of the writing of this article, it is fully legal in as many states as it is still fully illegal (10), according to DISA GLobal Solutions. With such a move for acceptance, Harry recognized this market years ago and has been putting together a solution set for his partners.
He has just published a book, focusing on the medicinal market opportunities, “and the supply chain, from seed to sale.” Some key points that lead to success are:
- Analytics - you have to understand the metrics, what they mean, and how they are manipulated.
- API Integrations - there are control boards in place to regulate this product, but chances are there are similar governing bodies for your specific industry, too.
- Addressing Security Needs - obviously, security for controlled substances is an issue, but security systems are often offered by MSPs for every business.
- Reporting - most businesses have some kind of reporting and documentation requirements. How you address these concerns can mean closing the deal or losing it.
The old term “trusted business advisor,” says Harry, is still a very relevant term. “Basically, an MSP has likely started, owned, and operated a small business themselves. They’ve been around the block.” He advised using this experience and expanding how you conquered your individual challenges as a guide to helping others.
And while most MSPs are not a Cannabis MSP, the challenges, opportunities, and insights gained in this very specialized market transcend its unique footprint and can be used as a guide for success for others.
Listen to more of our talk here: