Add news
March 2010
April 2010
May 2010June 2010July 2010
August 2010
September 2010October 2010
November 2010
December 2010
January 2011
February 2011March 2011April 2011May 2011June 2011July 2011August 2011September 2011October 2011November 2011December 2011January 2012February 2012March 2012April 2012May 2012June 2012July 2012August 2012September 2012October 2012November 2012December 2012January 2013February 2013March 2013April 2013May 2013June 2013July 2013August 2013September 2013October 2013November 2013December 2013January 2014February 2014March 2014April 2014May 2014June 2014July 2014August 2014September 2014October 2014November 2014December 2014January 2015February 2015March 2015April 2015May 2015June 2015July 2015August 2015September 2015October 2015November 2015December 2015January 2016February 2016March 2016April 2016May 2016June 2016July 2016August 2016September 2016October 2016November 2016December 2016January 2017February 2017March 2017April 2017May 2017June 2017July 2017August 2017September 2017October 2017November 2017December 2017January 2018February 2018March 2018April 2018May 2018June 2018July 2018August 2018September 2018October 2018November 2018December 2018January 2019February 2019March 2019April 2019May 2019June 2019July 2019August 2019September 2019October 2019November 2019December 2019January 2020February 2020March 2020April 2020May 2020June 2020July 2020August 2020September 2020October 2020November 2020December 2020January 2021February 2021March 2021April 2021May 2021June 2021July 2021August 2021September 2021October 2021November 2021December 2021January 2022February 2022March 2022April 2022May 2022June 2022July 2022August 2022September 2022October 2022
1234
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
News Every Day |

Jordan Lams on Finding and Patiently Developing Your Entrepreneurial Focus

We define entrepreneurship in terms of people working creatively to make others’ lives better. That’s a very broad statement, of course, so it’s instructive to observe how individual entrepreneurs choose to make some customers’ lives better in some specific ways by applying special skills and knowledge. Let’s call it finding an entrepreneurial focus.

Economics For Business talks to Jordan Lams, founder and CEO of Moxie, an industry pioneer in manufacturing, branding, and distributing cannabis products.

Key Takeaways and Actionable Insights.

Entrepreneurs find their focus — or, sometimes, it finds them.

Bruce Lee is reported to have said that the successful warrior is the average man, with laser-like focus. Entrepreneurs develop focus on particular customers, in order to understand them better, empathize with their wants, and deliver them the experiences that they value. Developing this focus may take time, or it may come early in the journey, but empathy always provides the pathway.

Jordan Lams observed the pain of a family member during a time of illness, and how cannabis products could bring some relief and comfort. From that time, he became focused on the health and medical benefits of cannabis in a broad range of personal circumstances.

From a position of focus, entrepreneurs develop the deep knowledge that becomes their marketplace advantage.

Entrepreneurial focus directs research and knowledge gathering. In Jordan’s case, he gathered academic research, medical literature, and clinical studies, and he talked with medical practitioners about cannabinoid therapies. Networking brought him into contact with researchers and doctors and clinicians and product developers. He established a uniquely robust knowledge platform.

Focus plus knowledge leads to opportunity tension.

Some entrepreneurial theorists have coined the term opportunity tension — that period when an entrepreneur’s focus and knowledge point to a market opportunity, but there remains unresolved risk in the process of seizing it. The entrepreneurial solution, of course, is to take the risk. Jordan executed his commitment by taking a job in the retail sector of his chosen industry — a place to meet customers one-on-one, and look backwards at the supply chain.

Customer orientation is refined by direct contact, conversation, and experience.

Working in retail enabled direct customer contact and unfiltered conversations about customers’ preferences and wants, the benefits they sought compared to the benefits they experienced, and a general deepening of customer knowledge.

In addition, Jordan was able to observe the supply chain, including the interruptions and inconsistencies that detracted from customers’ experiences. Product quality was inconsistent and supply was unreliable. To an entrepreneur, this looks like opportunity.

Knowledge, experience, and customer contact provided the ingredient for a new firm and a new value proposition.

Jordan sums up the firm he founded, Moxie, as knowledge + infrastructure. A status quo of incomplete knowledge, inferior and inconsistent products in unreliable supply chains can be replaced by a new market of shared and distilled knowledge delivered via consistent and trustworthy quality. Customers are able to develop trust and confidence in a brand based on knowledge (“we know what we are doing”) that brings new maturity in the form of scale and process control and quality assurance to an emerging market category.

The company’s knowledge base enables vertical integration because the knowledge is broad and not narrow, the recruitment of strong partners because shared knowledge makes for robust collaboration, and new standards of quality, adherence to which strengthens customer expectations.

The firm’s foundation supports both R&D and open innovation.

All markets are changing at high rates of speed at all times. That’s why innovation is the essence of entrepreneurship. Standing still is a losing option. Jordan invests I R&D in the form of lab research (in pharmaceutical quality labs) exploring new product forms and new combinations, while also participating in the open innovation of knowledge sharing that goes on throughout the industry. R&D supports both specialization (making current offerings even better) and market expansion (new products, new forms).

Brand building will be the patient route to long term growth.

While business environments change fast, one way to invest with patience in a consistent direction is to build a brand. A brand can reflect customer values — the things that matter to them — in a way that creates lasting bonds. On its website, Moxie positions its brand as a force of character: courage, grit, determination, nerve. It provides an emotional connection to customers who value self-realization and self-actualization.

Patient entrepreneurs can see the regulatory maze as a locus of opportunity, too.

Moxie was the first licensed cannabis brand in California, and sees itself as a pioneer in leading institutional and regulatory progress. Instead of viewing regulators as business obstacles, Jordan employs his empathy skills to understand their position, their role, and their needs. He provides them with resources of information, industry knowledge and collaboration, and contributes where he can and where it’s appropriate to help them arrive at decisions and translate them into subsequent implementations.

As in building a company and building a brand, patience can pay off in future strength.

Additional Resources

EnjoyMoxie.com

Jordan Lams on LinkedIn: Mises.org/E4B_188_LinkedIn









Read also

FCC will start kicking voice providers out of its robocall database

Atiku healthiest candidate, needs no fitness video — Aliyu

North Korea missile likely flew over Japan: PM’s office


News, articles, comments, with a minute-by-minute update, now on Today24.pro

News Every Day

7 MUST-DO Biceps Exercises for Bigger Arms

Today24.pro — latest news 24/7. You can add your news instantly now — here


News Every Day

BMW M4 CSL v Porsche 911 GT3: DRAG RACE



Sports today


Новости тенниса
ATP

Джокович – единственный игрок в ATP-туре, который взял в этом году турниры на всех трех покрытиях



Спорт в России и мире
Москва

Самые верные: мужчины каких знаков зодиака никогда не изменяют


Загрузка...

All sports news today




Загрузка...

Sports in Russia today

Москва

РОСГВАРДЕЙЦЫ ОБЕСПЕЧИЛИ ПРАВОПОРЯДОК НА ФУТБОЛЬНОМ МАТЧЕ В МОСКВЕ


Новости России

Game News

Mutant Squad: Battle Arena повторяет за Brawl Stars, но получается посредственно


Russian.city


Новости 24 часа

Строительство Южно-Лыткаринской автомобильной дороги – магистраль в будущее


Губернаторы России
Филипп Киркоров

Филипп Киркоров покаялся на похоронах Бориса Моисеева


Автозавод «Москвич» откроет дилерские центры в 23 городах

Строительство Южно-Лыткаринской автомобильной дороги – магистраль в будущее

Исследование: загрязнение водоемов чаще фиксируется в Свердловской и Московской областях

Ефимов: Четыре участка с недостроями в Москве реорганизуют по проекту комплексного развития территорий


Специалисты рассказали об огнетушителе

Появились неожиданные обстоятельства, связанные с отъездом Пугачевой из России

Пианист Лебедев заявил, что занятия музыкой защищают от болезни Альцгеймера

Клуб Басты «СКА Ростов» победил в матче с ФК «Ротор» из Волгограда


Военком Кудрявцев прокомментировал проблемы при частичной мобилизации в Новосибирской области

Видеообзор матча Рыбакина - Киз

Кудерметова расположилась вслед за Касаткиной в рейтинге WTA

Борщев не справился с Дэвисом на турнире UFC



В школе №2120 избрали нового президента

Компания Axenix организовала обучение сотрудников и студентов по программным решениям 1С

Автозавод «Москвич» откроет дилерские центры в 23 городах

Строительство Южно-Лыткаринской автомобильной дороги – магистраль в будущее


Полуфиналисты Чемпионата России и Первенства России (16-17 лет)

Крымске школьники побывали на премьере первого профориентационного сериала в России

Синоптики рассказали, в каких регионах России в октябре 2022 будет тепло

Мобилизации в России


Священные книги могут взять с собой мобилизованные

36-летняя певица Ольга Бузова продемонстрировала увеличившиеся бедра

Ефимов: Четыре участка с недостроями в Москве реорганизуют по проекту комплексного развития территорий

Маленький, да удаленький



Путин в России и мире







Персональные новости
Russian.city

Джиган

Жена Джигана призналась в «привычке» беременеть каждые три года



News Every Day

I waited 8 months to film this for You




Friends of Today24


Загрузка...
Музыкальные новости

Персональные новости
Moscow.media