Chapter 1: The Journey into Cannabis Innovation

Growing cannabis is not a quick path to wealth. Many individuals enter the cannabis sector believing it will lead to rapid financial gain, but the reality is different. While there is potential for profit, success relies heavily on dedication and expertise.

In our series on pioneering technological advancements, I had the privilege of speaking with Mike Tabor, the Business Development Manager at Trait Biosciences Inc. Mike is deeply immersed in the evolving trends of the cannabis market, working to launch innovative brands that showcase Trait’s unique cannabinoid technology and research. His passion for the cannabis plant and its societal benefits has driven much of his career. With extensive experience across all facets of the industry—from cultivation to product development and marketing—Mike has successfully founded multiple CBD companies. Over the past eight years, he has concentrated on creating consumer products that seamlessly incorporate the benefits of CBD into everyday life.

Thank you for participating, Mike! Before we delve deeper, could you share a bit about your background and what led you to this career?

Like many in this field, my journey didn't start here. I began by cultivating medical cannabis for patients in Oregon. My partner is a healthcare professional, and I admired the assistance she provided to those in need. With a lifelong interest in gardening and a knack for horticulture, I started growing for a friend. What began as a small endeavor quickly expanded, leading me to explore alternatives to smoking cannabis. Eventually, I moved to the East Coast, where marijuana was illegal, prompting me to shift into the hemp and CBD industry to continue my passion.

What’s one of the most fascinating experiences you've encountered in your career?

I meet a diverse range of individuals in this industry, most of whom share a vision for mainstream acceptance of cannabis. At one point, I thought that engaging with regulations could have a significant impact. I assumed that having a thorough understanding of the industry would be an asset, but I quickly discovered that regulators often seek individuals who are skilled in navigating paperwork, which was disheartening. There is considerable work ahead to educate both consumers and regulators alike.

What groundbreaking technologies are you currently developing, and how might they benefit others?

As the Business Development Manager at Trait, my role has been incredibly fulfilling. Our team consists of brilliant scientists dedicated to advancing cannabis science and developing new technologies. We are currently focused on introducing the world’s first truly soluble CBD ingredient, known as Trait Distilled CBD49. This advancement in solubility is set to revolutionize infused consumer packaged goods.

How do you envision this technology making an impact?

I firmly believe that consumer perception is one of the greatest obstacles faced by manufacturers in our field. Infused products offer a more acceptable entry point for average consumers as smoking becomes less socially acceptable. However, there are often compromises with cannabinoid-infused products compared to their traditional counterparts. One of the standout features of our ingredient is its clarity. Unlike current market ingredients that appear murky, ours dissolves completely clear, ensuring that products—whether beverages or cosmetics—meet consumer expectations.

Considering potential drawbacks, are there any concerns related to this technology that people should consider?

Not particularly; our ingredient facilitates optimal integration into consumer packaged goods (CPGs) without the need for additional emulsifiers or chemicals that other manufacturers use to disperse CBD. This innovation actually eliminates several negative factors that consumers may overlook.

Was there a pivotal moment that led to this breakthrough? Can you elaborate?

There wasn’t a specific tipping point; our scientists have been focused on cannabinoid science from the start, with solubility being a key emphasis for several years.

What is required to achieve widespread adoption of this technology?

Trait is currently scaling its production and building inventory to meet customer needs. Many companies are interested in our ingredient, and once it is released to the market, demand is expected to be high. Numerous businesses are eager to set themselves apart from the competition, so interest in our product is robust. Consumers will appreciate what Trait Distilled has to offer.

What strategies are you employing to promote this innovation?

My daily routine leans more toward traditional methods—lots of cold calling and networking to inform manufacturers about our upcoming products. Many in the industry are unfamiliar with our company because our focus has primarily been on scientific advancements rather than sales. Since we don’t market directly to consumers, many modern marketing tactics are unnecessary for our objectives.

No one achieves success alone. Is there someone you’re particularly grateful to for helping you along the way? Could you share a story?

In sales and business development, I owe a lot to my father. He had a successful career in a similar field, and I learned many valuable skills from him, including effective communication and the importance of integrity. For my horticultural abilities, I credit my grandmother, who passed down her knowledge to many family members. Her garden was always stunning, and I paid close attention to her methods.

How have you utilized your success to benefit others?

One of my primary motivations for entering this industry was to help others. I believe in the medicinal benefits of cannabis and its ability to enhance the quality of life for those with severe health issues. During my cultivation days, I always aimed to give back to those in need.

What are the "5 Things I Wish Someone Told Me Before I Started" and why?

1. "Weed" isn’t a weed. Many believe that cannabis grows effortlessly and yields guaranteed results, which is far from the truth. It requires significant skill to achieve optimal outcomes.
2. Cannabis cultivation is not a quick route to wealth. Many enter the industry thinking it will lead to fast financial gain, but success depends on hard work and expertise.
3. Regulatory changes take time. I once believed that state acceptance would swiftly lead to federal approval, but even with widespread public support, the government remains slow to change.
4. Limitations abound. The cannabis industry operates in a grey area, facing challenges in funding, banking, advertising, and even tax filing, which hinders success compared to traditional businesses.
5. Community matters. I didn’t realize I would meet some of the most incredible individuals in this industry. We share a common goal and vision, leading to lifelong connections with truly inspiring people. This sense of community is a significant reason I love my job.

As someone with considerable influence, if you could inspire a movement to benefit the most people, what would it be?

Legalize cannabis! Prohibition has proven ineffective. I wish there was a way to help politicians fully grasp the regulations they enforce, as few truly understand them.

Could you share your favorite life lesson quote? How has it been relevant in your life?

“Luck is what you have left after you give 100%.” Many people have grand ideas and hope for luck to guide them, but in my experience, success relies more on hard work and perseverance than chance.

If you had just 60 seconds to pitch to a venture capitalist, what would you say?

This is a question I ponder frequently. I work in a segment of the industry where most operations rely on similar processes that have known limitations. Our team has forged a new path to create an ingredient that breaks barriers and unlocks potential. Trait Distilled will revolutionize infused CPGs, enabling mainstream acceptance and integration of beneficial cannabinoids into everyday products.

How can readers connect with you on social media?

Thank you for this insightful conversation, Mike!