Activity 1: Define Intentions

Now that we have a better understanding of the industry, the players, and what kinds of businesses are possible, let’s craft some goals for your business by:

1. Identifying Business Objectives:
   1. Determine what insights you need to gain.
      1. Are you looking to target recreational consumers, medical patients, industrial applications or both? 
      2. Are you focusing on retail, distribution, grow operations or ancillary services?

2. Clarifying Focus Areas: Once you have determined your objectives, let’s think about what matters to achieve those objectives. For example:
   • If you’re thinking of starting in retail, then understanding consumer purchasing behavior and product preferences may be key. Some advocates for new businesses in the cannabis space said “stay away from grow operations and gummies, the market is oversaturated.” But how is it oversaturated? It it an abundance of high THC marijuana? Can you take advantage of that in a way that no one else has?
   • For cultivation, the focus could be on quality preferences and sustainability concerns. Are there certifications that could set you apart from other growers and help keep the price point stable?

See that beautiful Salmon?  It took a great deal of effort for the dams along the Klamath to be removed, and the Salmon to return to their rightful place in the ecosystem.  This was a long term goal that many in our communities hoped to achieve, but the results are right before our eyes. Take some time to think through your Business Objectives and what information will inform the success of these goals.  Mark complete when you are ready move on to the next step.