Cannabis Business Times asked five industry experts to share their insights into what it takes to win a license in an increasingly complex and competitive environment.

What follows is a roundup of their best advice, from how to get involved in the community, to competing with the industry Goliaths and more.

  1. Be ready to provide specific details.
  2. Establish a relationship with local officials.
  3. Research the area’s cannabis voting record.
  4. Reside where you plan to operate.
  5. Develop a budget, and then double it.
  6. Protect your intellectual property.
  7. Make sure your community outreach effort is substantive
  8. Become familiar with a state’s licensing structure.
  9. Understand what it will take to reach the finish line.
  10. Highlight the educational role your business will play.

For the full list and more detail, visit Cannabis Business Times