MJBizCon sparks cannabis deals and innovation

Corey Keller wasn’t looking to expand his Colorado-based Bonanza Cannabis Company to Nevada until he attended MJBizCon in Las Vegas in 2022.

There, he encountered someone handing out flyers advertising a property for sale and realized opening a facility in Nevada would give him an advantage over competitors that manufacture their products through white label agreements.

“We bought the licenses and the building with the property,” said Keller, owner of Colorado-based Bonanza, a manufacturer of edibles and vaporizer cartridges.

“The deal was closed from meeting someone at MJBizCon.”

The largest cannabis business conference in the world, MJBizCon has been the epicenter for deal-making, networking and innovation in the cannabis industry since its inception more than a decade ago.

Slated for Dec. 2-5 at the Las Vegas Convention Center, the event is more than just an expo.

As Keller’s experience shows, it’s a platform to forge relationships, close deals and shape the future of cannabis.

Planning ahead, following up

For Keller, the secret is advance planning and followup: scheduling meetings with prospective partners ahead of time, and following up on conversations had in Vegas.

He looks for retailers he’s not working with in markets he’s already doing business in as well as meeting people in new markets that he would like to enter.

“We’ve run into people we’ve eventually worked with, but at MJBizCon, you’re planting the seeds – the idea of what you can do together.”

Keller suggests contacting people in your network to find out what hosted events they’re attending after the show floor closes and asking them to help you get an invitation.

“You can float around the convention for a couple of hours – if you’re looking for equipment or dispensary displays, you’ll find a lot of people who can help you with that,” he said.

But if you’re looking for people who own retail locations, you’ll find them at the after parties.

Seasoned attendee Michael Lucchino, executive vice president of sales at Vermont-based drying, curing and post-harvest storage system Cannatrol, emphasizes the need for a game plan.

“Sixty days before the event, we’re scheduling meetings and filling our time with meaningful interactions,” he said.

“MJBizCon can feel like a party, but if you’re spending that kind of money, you need to focus and prepare to ensure success.”

Lucchino’s team uses the event to generate leads and showcase Cannatrol’s disruptive technology, which applies artisanal cheese and dry-aged meat preservation techniques to cannabis flower.

The company will host a charcuterie-themed happy hour at its booth to demonstrate its high-end output capabilities of its system.

“Our reasons are intentional,” he said. “We are a disruptor, so take note.”

Podcasts and partnerships

For renowned cannabis genetics breeder James Loud, MJBizCon has been a game-changer.

Loud has signed sponsorship deals for his podcasts and found cultivators in far-flung locales such as Germany and Brazil who want to license his genetics and partner with him on a long-term basis.

“MJBizCon is so much more than just the show,” Loud said.

“A lot of people just see it as this expo, but it’s meeting other people that are likeminded and are on the same trajectory that you’re on.”

As the cannabis industry struggles to regain its footing, MJBizCon provides an opportunity to connect with those who are serious about the cannabis industry.

“Now more than ever, MJBizCon is important because there’s less tire kickers,” he said. “It’s a completely different group of people than in 2018.”

“Consolidation has brought in more serious businesspeople. It’s the perfect event to collaborate on a global scale.”

Building relationships

MJBizCon also provides an opportunity for international companies like Barcelona-based seed Bank Blimburn seeds to reach a U.S. audience.

Blimburn founder and CEO Sergio Martinez said the conference gives him the chance to meet with new and existing U.S. customers and build relationships with them.

His sales team studies the conference agenda and is mandated to set up lunches and dinners with prospective clients months before arriving in Vegas.

“If you want to do anything in the cannabis industry, you must go to MJBiz,” Martinez said. “There’s no other trade show in the U.S. like this.”

Former Bhang CEO Jamie Pearson also experienced a pivotal business moment at MJBizCon when she met the CEO of a large multistate operator in a private suite.

At the time, the MSO was on the verge of dropping Bhang as a brand because of a disconnect between their teams.

But a brief meeting changed that, with Pearson taking over the relationship and salvaging the partnership.

“It was about understanding their needs and creating a win-win scenario,” said Pearson, now president of Montana-based global cannabis consulting firm New Holland Group.

“If a deal isn’t good for both sides, it’s destined to fall apart.

“When you take the time to understand the other side’s pain points, that’s when you create deals that last.”

The future of cannabis business

MJBizCon continues to be the ultimate sandbox for cannabis professionals.

Whether you’re a startup looking to make your mark or an established company seeking to expand, the conference offers opportunities to connect, innovate and grow.

But don’t attend the conference expacting to sign a deal, Pearson said.

Take the time to get to know people and build rapport and credibility.

“The key to making deals is to tee them up appropriately and then knock them out of the park,” Pearson said.

Margaret Jackson can be reached at margaret.jackson@mjbizdaily.com.