If you’ve been involved in the U.S. Hemp industry for more than a few months, you will have no doubt heard the term “Unicorn,” or as I lovingly refer to them as Polka-Dotted Unicorns (PDU’s).
As I mentioned in a previous article I penned in April of 2018 entitled Chasing CBD Hemp Unicorns, the hemp industry has a tendency towards chasing PDU in its effort to find the most amazing deal imaginable in this rapidly evolving industry.
The two critical issues needed to identify these beautiful and extremely elusive creatures are to 1. Understand the hemp industry and, 2. Know the people you are dealing with. These might sound incredibly obvious but, in all transparency, even someone such as my self has oft times been bamboozled by ignoring these simple guidelines.
Understanding the industry is an ongoing process and includes having a realistic sense of the scale of the industry and the trends driving that. At ground level, (pun intended) it is important to understand how much hemp is being grown, the primary states where it is growing, and the level of infrastructure needed to grow, dry, store and move hemp at very large scale.