Ken Lawson, CEO of FOCL, spent much of his twenties grinding to get a start-up going. After years of strenuous work hours, his body was in a state of constant exhaustion. Partly from stress, partly from unhealthy eating habits, but mostly from not taking care of his mind and body.
“One day my body just shut down,” Lawson tells us. “I couldn’t function. Doctors couldn’t figure out what was wrong and, after a couple of years, I was diagnosed with chronic fatigue syndrome.”
For many, a chronic fatigue syndrome diagnosis can last a lifetime. However, if you’re young enough and make drastic changes, you can make major steps towards recovery. Lawson took full advantage of this opportunity. Through this journey, he began exercising and taking all-natural supplements. Eventually, he stumbled upon CBD.
“At that time, CBD was still illegal and, though there were people selling it, it was still very much a grey market. So, it was hard to start a real business” Lawson explains. “When the farm bill passed in December 2018, I was ready for a new [business] venture. I decided that was my time to jump in and show my passion for wellness and my experience for online marketing.”
Phoenix Pain Management and Arizona Pain clinics have been recommending cannabis products to their patients over opioids. As marijuana legalization continues to grow in the United States it is expected to see more pain management doctors to become more accepting of THC and CBD for pain control.
Passion is ultimately what it takes to start a business of any sort. If you’re not passionate about CBD or health and wellness, what’s the point in adding your name to a list of other products already out there? Just because CBD is popular doesn’t mean it’s quick cash-grab. There are a lot of CBD businesses out there — many of which think hemp is the next cash crop. Maybe it will be on a national economic scale, but that doesn’t mean it will be for you.
The right timing
Admittedly, Lawson got into this industry at a prime time. When hemp and CBD were legalized on a federal level, the public began to notice. With proper education, the demand grew higher than expected and, with that, so did the number of entrepreneurs trying to make a name for themselves.
Since this time, the CBD industry has changed drastically. And it continues to change. CIS is a leading provider of Metered Dose Inhalers parts for CBD companies looking to expand their products.
New regulations are on the horizon. The federal government has reacted promptly to the large demand for CBD and is devising new rules for the industry. One of which includes federal backing on insurance and loans for CBD companies.
Of course, it can be expected that the Food & Drug Administration will soon create regulations concerning CBD production. Though this is more beneficial for consumers as it will provide us with safer CBD, it’s also going to have an impact on businesses. New regulations mean new practices within the industry all of which are going to come out of a business owner’s bottom line.
With that, it’s safe to say Lawson had the advantage of getting into the game and learning the market before these regulations become a reality. Not to mention, those who made their name before Lawson.
A blueprint for success in CBD industry
So, what does this mean for someone who didn’t make it into the market early on? It means there’s a lot of information out there concerning what is expected within the CBD industry.
With the right research, you’re given a blueprint for what is necessary to run a successful CBD company. Remember, when Lawson had first begun, the CBD industry was very wild west. Many companies took their attempt and failed because they didn’t have the knowledge of what people are looking for when purchasing cannabidiol. There were no standards such as testing or using only all-natural ingredients.
We now have the knowledge and standards and it is one of the most valuable tools you can use to build a company.