Marijuana Business Magazine April 2019

Marijuana Business Magazine | April 2019 12 L uka Freyer is an economist who specializes in entrepreneurship and management. He established Patron, a producer of easy-to-use dispensers for natural extracts such as oil, wax, paste or resin. Today, Freyer serves as development director at Patron and chief business officer at Freyherr, a Good Manufac- turing Practices-certified producer of cannabis-based products. Both companies were established in Slovenia and operate internationally. On May 6, Freyer will be speaking at MJBizDaily 's European Cannabis Symposium in Copenhagen. Visit mjbizconference.com for details. What were your biggest business “aha” moments? The first one was when I realized we can set up production of medicinal cannabis in Macedonia. Also, when I realized the advantage of GMP- and Good Agricultural Practices-compliant production that cannabis is lacking. In my opinion, many companies that operate in the cannabis industry are on short runs. The quality and brand will decide who stays in the market long term. But brand and knowledge are something that we need to build right now, from the very beginning. Another big “aha” moment came up just recently, after my visit to the United States, where we studied the new Farm Bill. We realized the U.S. market just became a great opportunity, as it allows us to enter the market with food-grade products. Another “aha” is patience, as cannabis legislation only seems to change fast. The truth is, it will take time for cannabis to be prescribed regularly as medicine. But that could be OK, as we are lacking applicable medical studies. I believe this is also an opportunity for us market players, which is the reason Freyherr is cooperating with universities and research organizations. What’s been your biggest mistake? I hired a few people too quickly. Macedonia doesn’t have a lot of experience with legal cannabis. What are your best tips for hiring new talent? Macedonia has a lot of hard-working, highly skilled individuals who unfortunately usually migrate (outside of the country). Since legal cannabis is a new industry, it attracts people with passion and devotion to research and change—and, of course, people who pursue profitability. It is also unique in that not many countries have allowed production of cannabis for medicinal purposes. So, the nature of business itself—along with a very Luka Freyer The CEO of dispenser maker Patron and co-founder of Freyherr talks business opportunities in Macedonia and Slovenia Editor’s note: Each month we ask a cannabis industry executive for business tips and advice, as well as insights from their own professional experiences. To suggest an executive for this page, email magazine@mjbizdaily.com . The Executive Page | Tips & Advice By Alfredo Pascual Luka Freyer Courtesy Photo