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Joshua Dudley recently lived in Sheboygan and loves coffee. His first venture resulted in a patent.
“One day my mom was watching ‘Shark Tank’ and she interviewed the inventor. My mom and I started thinking that was cool and maybe we could come up with something.” he said. French he updated the press and drew the design. “
Dudley considered opening a coffee truck, but put the plan on hold. They did the engineering, went through the filing process, and got the patent. Marketing continues, but he has his sights set on another new business.
The Honest Cannabis Company was founded this year and Dudley has found support for the idea. He entered the Business His Pitch Contest and in the Level Up Pitch Contest held in Manitowoc he placed first. With that encouragement, he is moving forward.
“The invention got me interested in the coffee industry,” he comments. “My idea was to combine coffee with cannabis.
As a lab technician, he had the skills to brew coffee. The more he thought about the idea, the more he liked it.
“It was like lightning struck. I had this idea and everything seemed right,” he said.
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Although his past experience included a variety of jobs, Dudley decided he needed to learn more about running a business. He enrolled in Manitowoc’s Progress His Lakeshore Wisconsin Small Business Development Center program. The eight-week program taught him the basics of business.
“This class was great. It answered a lot of my questions and confirmed a lot of things I was thinking about because I had that idea for a while. It took me to the next step and here I have a fully developed product.”
Creating the product involves taking hemp oil in crystallized form, roasting the coffee beans, and isolating the CBD or cannabidiol after roasting and cooling. It is said to reduce anxiety, improve health, boost energy, minimize chronic pain and much more.(Editor’s Note: The U.S. Food and Drug Administration is still investigating the safety and efficacy of cannabidiol use.)
In doing a competitive analysis, Dudley discovered that cannabis-infused coffee was available from other sources, but he found a niche. Coffee is a blend) and is trying to attract interest in a pop-up market for subscription services.
“I just learned that my coffee bags cannot be sold at retail,” said Dudley. Pop-up He realized from selling in markets that customers in those markets were looking for something unique. Packages need more novelty to attract subscribers. “
To that end, he developed a 16-ounce coffee variety box he calls “Coffee of the World.” He has 16 different bean sauces from all over the world and 4 of him in one box. If you try various beans and choose your favorite beans, you can immediately become a monthly member.
Subscription services are almost finalized. Dudley has completed his marketing plan and opened an Amazon store. His website (www.thehonestcannabisco.com) is almost ready and his goals are set.
“We hope to complete the marketing within three months,” he said. After that, I would like to increase my subscriptions and continue selling on Amazon. “
Dudley says that for a business to be profitable, it needs good conversion rates among people who try the product and subscribe for the long term. He will try to reach breakeven by his second year, so he should sell about £100 a month in year one and grow from there. Attrition and conversion rates are carefully tracked.
By participating in local markets, he hopes to get a better sense of the business and how customers feel about pricing, single-source beans, packaging and delivery. In the process, he advertises what he sees as merit.
In an elevator speech he gave at a pitch competition, Dudley said: Studies on CBD have shown that it contains antioxidants and has anti-inflammatory and analgesic properties. CBD has also been shown to work within a subset of serotonin receptors and help regulate mood. think. “
The combination of caffeine’s concentration effects and CBD’s calming effects are the ingredients he believes will bring success. He’s thinking of a catchphrase, “Bringing the Calm to Your Caffeine.”
Getting to this point has been a learning process. Dudley spends hours listening to audiobooks to learn more about business and sales. Self-described as an introvert, he’s trying to be more outgoing so he can sell himself with confidence.
This trip helped him advance the independence he learned from his mother. She taught him to be creative, to take responsibility when things go wrong and adjust when necessary. It’s fitting that his favorite quotes are along the same lines.
Quoting Bruce Lee, Dudley said, “Be like water through a crack. Things will reveal themselves… Be the water, my friend.
Tina Dettman-Bielefeldt is co-owner of DB Commercial Real Estate in Green Bay and former District Director of SCORE, Wisconsin.
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