Monday, November 14, 2011

Research, Rename, Relaunch! Dispensary Business News Is Now MMJ Business Daily

Pride goeth before fall.

I've always had a knack for new publication development. Now I've learned I can't depend on it too much. Market research kicks knack butt.

This summer we launched Dispensary Business News for professionals running (legal) storefronts serving card-carrying medical marijuana patients. It seemed like a good idea because these pros have very few sources of relevant business information; the news changes daily, often dramatically so; and it's a booming billion+ dollar industry.

In reality, it was a crappy idea because people who run MMJ storefronts rarely read news online. Some don't even have email addresses - not for work, nor for personal email. And, some just weren't professionally-minded enough to care much about professional news.

So, in October with help from another publisher in this market, we launched a formal market research survey asking a wide variety of industry pros what they wanted from an online trade journal in this niche.

The result launched today -- Medical Marijuana Business Daily, featuring exclusive news analysis for legal and financial pros, as well as vendors in the industry. Lesson learned - always run a survey prior to launch. Don't just count on your "knack".

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