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EXECUTION Pacific Northwest cannabis industry media project attempt #2

Discussion in 'Progress/Execution Threads' started by Private Witt, Jun 17, 2018.

  1. Private Witt
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    Private Witt Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    I'm very happy to say a project I relaunched after completely walking away for almost a year is starting to see amazing results. I've been pounding hard on processes and ignoring results, but its pretty great when the well starts to yield.

    My focus is on events, music and people. Due to tough state laws, events have been totally held down. There are loopholes that others are operating under and I started to sucker-fish onto others who have huge resources to get things done.

    Since my relaunch in April, I've made progress by making friends and deals with many in both the cannabis and music industries. I got lucky and started to cover a rap duo about 1.5 years ago who are totally blowing up. They just came off tour with Bone Thugs-N-Harmony and performing at South by Southwest.

    As of now, I'm putting together a huge event at the end of the year with these two rappers. We are looking at a 1,800 seat venue and will try to bring some big names they have worked with over the last two years.

    I have a potential partner I'm meeting with in early July to see if we can do this together, but if we can't work out a deal I'm going alone. I prefer to partner up with this company as they have an awesome team and app in the industry. It would halve my profit, but it would take off so much pressure with both people and also budget as they are deep stacked.

    As for monetization, these types of shows can bring nice revenue, with VIP and sponsorship, in addition to 1,500 seats going for 30 - 50ish. The line-up could be huge and that will dictate the ticket price. My site also has many options for monetization, but that will take time so great to have an income from events in the future.

    With both attempts and a try with something else in the cannabis space, I have about 1.5 years of experience in the industry. I've learned this is not enough as the learning curb is massive and in order to move fast you must be willing to pay to play. I'm kinda frugal with most things and would rather wait and make the connections and get free industry coverage for my content and movement. I do enjoy going to events and spend the money to get a booth as the connections you make are unreal.

    I will use this thread to update my project as the next six months are going to be very exciting and challenging, and love to engage with others taking risks and taking leaps for their dreams.
     
    Last edited: Jun 17, 2018
  2. Private Witt
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    Private Witt Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    The cannabis plus music industries moves slow but happy to say Ive made some awesome progress. We have pushed back the 1800 person show to a 400 person event in Tacoma, Washington.

    The headliner is rap legend Twista. The rap duo I work with will be the undercard.

    Tickets are going for $30 a piece and a sell-out will guarantee profit. We also have VIP options and sponsorship from the cannabis industry possibilities. We have a few sponsor deals closed and have until November to hit a target goal.

    Since Twista is a very well-liked name and the response has been really positive a sell-out is most likely going to happen.

    My next decision is to decide if to bring a cannabis bus from Seattle with industry VIPs. The next few weeks we will have the VIP packages and any add-ons like meet and greets at a cannabis store or two ready.

    Its not a big profit deal as there are a few hands in the pie, but for marketing and development of what Im doing its a great step forward. It makes it easy that the rappers have a network to sell the tickets and all I really have to worry about is sponsors and throwing an amazing event on the bus.

    On other fronts, my site and social media are starting to get a little stronger and also entering the industry news cycle with an interview coming out on a local industry blog with a few more lined up and print by October.

    My biggest problems are the gaps in time with events and I can be a little impatient but I think when I have the ability to scale I can close those gaps and be wishing I was back to the slower days.
     
    Last edited: Aug 24, 2018
  3. Private Witt
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    Private Witt Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    Making decent progress on the ticket sales. The rappers are in full ticket dispensing mode. They take photos of each one they sell and put on FB/Instagram to create FOMO. Also selling online and feel we should get to the sell-out of 400. We still have to sort out VIP and sponsors, but that is a different story.

    I've decided to push forth and promote and produce my own show. Im going to wait till this show is over in early November and my cash is freed up, but the issue Im having now is very little control over the production and Im not able to do some things I want to dabble in. My two rappers in my current show are awesome, but they are control freaks and I just don't have the position I wish to be in. I've found another local talented rapper with a great following and hopefully shoot for an event in January. Im doing all the legwork now and hope to bring a Strange Music rapper out to Seattle to be the headliner.

    On other note, I took a trip to Oklahoma City for an event about upcoming medical legalization in the state. It was a very interesting time as there were many business people looking to break into the industry in Oklahoma from Texas and other parts of the South. There was a contingency of industry related people from Seattle that went and it was great to hang out with them to expand my own network. Some heavy hitters went and looking forward to getting back to Oklahoma as what I do can be launched very easily in the state.

    Im really burned from the trip and have ten days to rest and get a lot of work done before a much needed 8 day vacation and than a heavy push for the end of the year starting in October.
     
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  5. Private Witt
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    Private Witt Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    Thanks man, this comment has made my morning and also appreciate the gift that has more than doubled my Fastlane Networth :).
     
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  6. amp0193
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    I'm glad.

    You were quietly hustling away in this thread to crickets... thought you needed someone to cheer you on.
     
  7. Private Witt
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    Private Witt Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    Crickets and tumbleweed are my specialties.

    Sometimes I feel like the quiet hustle is best for me, but in the end, like most I enjoy having the support, thanks!
     
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  8. Private Witt
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    Private Witt Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    Stepping it up a notch and I have rented a cannabis bus. This will cost me a grand but worth it because I now have 30 seats that I will fill up with industry people. I have a few media outlets confirmed and some store and grower-related entities climbing aboard.

    Im going to try to find sponsorship to offset the cost. This is pretty common in the industry by hanging banners, giving social media shout-outs and other stuff.

    My goal is to invite a few local influencer 420 models and a couple of musicians with decent followings.

    It took me a while to get this going as I did not specify how many comps I would be getting in the deal but worked it out and getting a huge chunk and feel like Ill be getting amazing value with networking, social media and both print and Internet media coverage.
     
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  9. Private Witt
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    Private Witt Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    Okay here is my poster for my event (sorry if so big, cant figure how to post smaller lol). Im not a big fan of the green behind the bus but was only way would make the image work.

    Im going to sell only ten seats and save the other 20 for industry people. So far my breakdown for the guest list Ill be inviting is:

    5 media sources (one app, one weed news, two magazines, one local paper)
    2 growers
    2 event holders
    2 stores
    I have an amazing veteran charity I will ask the founder but he is in a different direction so not sure how to make that work yet.

    That takes up about 14 seats and Im going to leave 6 open for some heavy industry hitters Ill be running bumping into events in October. I wont be bummed if I dont sell the ten seats as can give to more industry people as have tons of reserves to ask.

    Im going to wait to invite people until I get back from vacation on October 2nd. Ill give the first round of people ten days or so to get back to me to RSVP or move on. Ive learned to put a little giddy-up in it to avoid stagnation and having to wonder if Im going to fill the bus.

    Is a weird time for me to take a vacation as so much going on, but need to see family and on the edge of complete burnout as I maintain a BS job to pay the rent. Im happy to say one of my investors is about to reload and once I clear this show and get that funding I will be taking a break from the job (can go back anytime) and take a three-month shot at something special. I will go back into We Work South Lake Union Seattle at the base of Amazon which I do business with on another project and create a little chaos.

    Interesting time ahead for sure, but need to pace myself as there is danger and daggers everywhere.
     
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  10. Private Witt
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    Private Witt Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    I have made amazing progress. Ive secured six-figure funding and will be issuing a press release into the industry going right into a huge industry event later today. I will be making a ton of deals and activating industry partnerships all down the west coast.

    So far I have five monetization methods starting to bring results and can scale quickly. I have a few more in development and will roll out on the go.

    I have a ton of integrations to work out and juggle events as the calendar is getting extremely busy and the timing could not have been better as many partners are rolling awesome stuff out.

    The turning point was when I went to Oklahoma last month for the pre-Hemp Fest and had interest in a franchise for that state. I now have interest from many states and believe a franchise model is 100% doable and have taken serious steps to get there with a nice pace of speed.

    The show progress is going great, we have amazing sponsors on board including a rising star entity in the form of a Facebook video show. Im going to make a ton more sponsorship deals the next few weeks and great to bring on extra income getting my startup very close to being profitable.

    Ive requested through mail the image of the poster to be taken down as there is some sort of lawsuit going on with sponsors on the bus. Im not involved and have no idea the specifics and just have to cleanse the image in like 5 places. It reminds me that danger is everywhere and must tread with great caution on each deal.
     
  11. amp0193
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    @Vigilante We're looking at a notable here. Can't believe no one's in on this thread!

    So much action!
     
  12. Private Witt
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    Private Witt Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    I think maybe a little to much action to quick as I completely ran myself over. I feel like a complete wreck as came off a tough travel week and trying to chase deadlines.

    My back and foot are now jacked up. Hopefully Im okay in a week or so and taking it easy. I have an event on Thursday of this week at a golf course and is a really good one. The distractions are cut down and can really get some work done. I'm going to cover the event per request of the person throwing it for an article but plan on closing business as many of my main targets will be there.

    Yesterday went well but event was overwhelming as inside a tight space and so many people there. Im starting to see that big events are actually rough to deal with and the small ones is where the best networking gets done.

    My new investment will take time to finalize and need to be careful with money but the source is solid and Im just waiting to clear the event on Nov. 2nd to expend and execute a new plan.

    I have been pitched to do something either as a sponsor or on the content end of a 15 show tour starring the former Sublime drummer, a Greenday member and a DJ from old school NWA. They are all from Longbeach,CA and doing a throwback geography based theme.

    One thing that is really weird is Octobers calender is the busiest Im seen all year. So many entities are throwing events mostly under the name of a secret sesh. Since its illegal to have cannabis events at most locations this new stealth style is catching on and it went from one a month at best to now about 7.
     
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  13. Private Witt
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    Private Witt Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    A big thank you to the generous donor who threw me a $10 spot to get me to my first Fastlane 1k, ;).

    I'm stuck in limbo on the show. On October 19th the two rappers I work with are opening for Tech Nine, word on the street is the promoters are struggling to sell tickets big time for a 1600 seat venue. I almost jumped on this one and even though its a huge name I think its going to be a $ mess unless they have some last minute tricks up their sleeve to sell more than 800.

    I need to have a pow-wow with my rappers after that to make a last push plan for 11/2.

    The things Ive learned from this are so immense that Im really looking forward to putting it behind and being able to fully comprehend the entirety of what is going on with this new path of my business. I 100% want to go way deeper in music production, but I need total control and since Im a total noob learning as co-promoter is best. At the same time, the next time around I think Im going to go on my own and take the lead. Start with a 200 - 400 seat event to ease in.

    Tomorrow there is an interesting event for the industry. Its a golf tourney and at each hole there is a booth or two. The last one I crashed and did an article, this time I was invited to cover the event so a big step up. My top targets for partnership and sponsorship will be there so I hope I come with my A game.
     
  14. amp0193
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    This is how you do it right here.

    Act like you belong. Fake it till you make it!
     
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  15. Private Witt
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    Private Witt Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    I agree and man yesterday was unreal. I got the VIP treatment, spent the day with the event founder on her golf cart and interacted with the entire elite of the industry. I also was the only one covering the event and will be publishing two articles in a few days. People in the industry love these articles as reminds them of the event and it should be getting to the entire guest list.

    My goal now is to bring the founder of the event onto my team in some capacity and utilize her contact base and access to the event list, setting a 3 week goal on that one.

    This weekend Im putting together a new sponsorship package for my Nov. 2nd event and will asking like 30 entities in the next few weeks. Will be interesting how many bites I get. I will be taking trade and have made a few deals so already have 3 and 12 is my goal.
     
  16. Private Witt
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    Private Witt Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    So things have gotten pretty insane. The amount of high-quality relationships developed from the golf tournament has injected a lot of energy into what Im doing, but the byproduct has been a ton of extra work that is now just sitting there. I just got back from traveling all weekend and need to rebalance and get back to it tomorrow.

    I went to the Tech Nine show and Im happy to say it crushed. I dont know the numbers but I estimate it sold at least 1000 seats out 1600, maybe more. The place felt packed and the performance was amazing. VIP section sold out and the afterparty which sold for 20 - 30 was pretty packed too. There is a chance they broke even. What was uplifting was seeing the support and also the afterparty opened up an avenue for my own events in the future in that space. Its really hard to find places you can consume in and this one is perfect for what I want to do.

    My bus trip has formed up nicely. I got a few industry mini-whales aboard, including a rep for Dope Mag/High Times. My main goal now is to have an awesome swag bag. Im getting great stuff to put in it, but have to work on the bags. I have 9 sponsors so far and feel Ill get to the 15 I was looking for, but if I had more time I could get 20+. This is exciting as I can now plan the next event and charge upwards of 400ish for a booth and could see a nice profit if done correctly. Im looking to knock out this show in like 12 days and then turn around and set something up in December where I control it all.
     
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  17. amp0193
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    If something that went that well only broke even, then how do you make any money? Or was making money not the goal with that event?
     
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  18. Private Witt
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    Private Witt Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    I think these guys have long-term plans with the talent levels they are working with and love to throw epic shows as the goal. But Im just guesstimating with 1000 tickets @$42 and and maybe an extra 15k for the afterparty and sponsorship they were close to the 60kish I heard was breakeven. The profit is in sell-outs and still think they were holding 400 - 600 unsold seats, but could be wrong.
     
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  19. Private Witt
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    Private Witt Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    I just closed my bus sponsor list to lucky 13 entities. I am leaving one whale spot open for a follow-up I have to do today, here is the current break-down.

    5 growers (including one amazing edible company and one guy Im going to go deeper in biz with)
    4 media/marketing
    4 stores

    The whale is huge who has a rep on board but may wait to ask for sponsorship deal.

    I did trade on everything. The swag bags which I got donated will have awesome swag. Id say the value is way over $100 of cool chit that I got totally for free to allow them to put in the bag and letting me use their logo for promo :). I will do a ton of social media shout-outs and other marketing-related tasks that have zero cost on my side. So all free :).

    The next step will be to charge to do this in addition to swag trade. Industry prices for sponsorship for different events is from $100 - $2500 and the costs and popularity are soaring so I picked a right time to get my act together.
     
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    Great progress! Keep pushing forward.
     
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  21. Private Witt
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    Private Witt Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    Thanks, love your name, Im with ya!

    And thanks for the support and donation, love that too :).

    Im from the Chicago area myself, grew up in West burbs and family now in Hyde Park.
     
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  22. Private Witt
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    Private Witt Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    Time has flown and here we are two days away from the big show. I narrowed down to 12 sponsors and have been collecting swag and it has been going well. I love the fact people are giving me incredible stuff for free blows my mind. I can't wait till they are including payments with the stuff in the near future :). Here is a poster of my sponsors. There are a few whales and a bunch of other good size fishies.

    [​IMG]

    The next few days will consist of getting more swag and firming up guest list as have some late drops and replacements.

    After knocking this off, Im going to meet with an event assistant next week Im bringing on to get the next event going in early December at a profit. Luckily she is from one of the above entities and brings an immense contact base and sway with her.

    Randomly I met the director of an incubator at We Work. I was already planning on going back into We Work within a month and she convinced me to check out her spot which is more downtown. The main problem is parking versus the other one which has its own lot. Im going to take a look as they are looking to talk with cannabis companies and the idea of an incubator is very interesting as I need help on so many levels.

    Even if not a fit I find it to be an interesting experience to dig deeper. The location is a lot better too, closer to entertainment and a lot of cannabis upper-level entities are in the downtown area versus the Amazon land of South Lake Union where the other choice is.
     
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    Not to mention the people this person probably knows, and that if you're not a good match for her, she might know of someone else who can help you out in some way.
     
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    Haha this thread is awesome. Very different and refreshing direction from the typical marketing, e-commerce, product/service/software threads. Rooting for you man, kill this sh*t!
     
  25. Private Witt
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    Private Witt Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    Exactly!

    I ended up going in and had a nice talk with her. We both agreed I'm not a tech company and would not qualify. The thing is I have a lot of undeveloped tech-related stuff and I could fall into the specs sometime in 2019. She suggested I work out of that branch for a bit and we can meet so she can get a better understanding of where Im going and she can see progress as I go along. Im going to think about it over the next few weeks but for now going to focus on my event tonight.

    Im so happy the day is upon us as once this is over I can reevaluate so much, in addition to clearing major stress and tasks off the calendar. I don't know how long it will last as I may try to turn around and do an event in December, but there is nothing like starting a clean event with lessons learned from the last and the snuts to take the punishment once again.
     

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