Dollars and Sense: Dragon insight on how to capitalize cannabis legalization, and more

We sat Michele Romanow, Vincenzo Guzzo and Arlene Dickinson down with our “money bag” filled with questions about networking, cannabis, innovation and attracting talent to startups. They shared their "two cents" and plenty of business sense — here’s what they had to say:

What are the keys to becoming a great networker?

Ever attend a networking event only to feel like it was a waste of time? Arlene says make sure you’re actually listening to the people you meet. “People tend to talk a lot and they don’t listen well to the people that are speaking,” she says. You can’t understand someone’s business if you don’t listen well. Vincenzo adds that it’s important to ask the right questions in these valuable moments.

Additionally, Arlene suggests keeping a diary of the names of those who you’ve met and what you’ve learned about them. This new information can come in handy in the future. Michele says the best way to stand out when networking is to offer something that doesn’t have a monetary value such as an item they can’t find or helping their child out at school.

How can entrepreneurs cash in on cannabis legalization?

In October 2018, Canada ended its prohibition on recreational marijuana, and it has created a giant opportunity in the market. The industry is heavily regulated so Vincezo says there are two ways to capitalize on cannabis: selling it and managing it. 

In the rush to join an already crowded market, you have to make sure to stand out. Arlene urges hopeful potpreneurs to understand what the market wants, and Michele adds that it’s going to take a lot of creativity to make your mark.

What new tech or innovation are you most excited about?

Technology is underpinning every business in every industry — it’s what’s driving innovation across all the different sectors. Arlene is excited to use technology to enable better production, better manufacturing, and better products.

Michele is excited to save time in driverless cars.

What’s the best way to lure talent to your startup?

The Dragons all agree that startup leaders need to have a strong passion and vision to build your company with speed will attract the talent you want.