Marijuana Business Magazine February 2020

February 2020 | mjbizdaily.com 45 Cannabis companies emerge from deadly outbreak with greater focus on technology, testing and transparency The vaping crisis appears to be receding, but the implications are long-lasting for vape companies and the cannabis industry as a whole. The epidemic spurred companies to revamp their business procedures and offer new technologies. Below are steps that cannabis companies can take to avoid, prepare for and survive the next crisis: • Be transparent about the ingredients and testing procedures linked to vape products; use high-tech solutions to deliver that information to consumers. • Carefully vet vendors and have alternate suppliers lined up and ready to provide key components. • Oil that is 100% derived from cannabis plants is ideal for vapes. If additives are necessary, use only those that are botanically derived and be sure to research the source thoroughly. • Always keep an eye open for new technologies that can protect and improve business—from anti-counterfeiting technology to better cartridges and batteries. • Strengthen your brand and educate consumers about the differences between legal and illicit products by reaching out through social media and other platforms.