Maybe “Ol’ 55” is not Tom Wait’s most memorable song, but I like it (and the Eagles cover of it). I turn 55 today and two lines from that song spring to mind: “And now the sun’s coming up and I’m riding with Lady Luck.” That positive sentiment perfectly aligns with my point of view at this stage in my life, not just because of my age, but also because, today, I embark on probably the most exciting and challenging project of my life. Today I become Chief Executive Officer (CEO) of Wuhan General Group (China), Inc (OTC: WUHN). ?
Read more about MJ Medtech™, Wuhan and my appointment here.
For years, I saw both the health and investment potential of the legal medicinal cannabis and the cannabinoid market. That’s why I became involved directly and indirectly with a number of earlier projects. They helped me accumulate not just deep knowledge of a complex area, but also gave me the opportunity to meet many like-minded and inspiring people. I regard my appointment as CEO of Wuhan as the logical culmination of that early work and also as the launch pad for an exciting future. ?♂️
One of those who particularly impressed me was Dr. Anna Morera Leralta, a young dynamic medical doctor from Barcelona. Dr. Anna and I share a similar vision on cannabis and related areas, and I’m delighted she will be joining me on Wuhan’s board in addition to her recently appointed role as Chief Medical Officer. Dr. Anna will play a pivotal role in the future direction of the company.?⚕️
The legal medicinal cannabis business is young, and over the next few years its growth will be exponential. There are many reasons for this, but the most significant is that public attitudes and expectations around the world are changing rapidly. These attitudinal changes, in turn, are driving legal changes. Already, several U.S. states have amended their laws around cannabis use and in October this year, the Canadian federal Cannabis Act formally legalized recreational use of the plant in Canada. ?
The media has reported all these developments thus generating more widespread public awareness and huge latent customer demand. Two factors spur that demand: first is the general public’s increasing awareness of the medicinal benefits, and second, is the growing awareness by investors of the potential financial gains. Once the legal obstacles are removed, those potential users will look for suppliers, and those potential suppliers will look for investors. ?
I have no doubt that now is the optimum time to grasp the opportunity of the existing and growing potential demand. This demand will grow even more when more countries and U.S. states legalize usage and supply. Moves to advance legislative change are already underway in a number of countries and U.S. states. Once the legalization process starts in earnest in one jurisdiction it will inspire others, and its pace will accelerate. ?⚖️
One thing I know about business is that customers don’t hang around because you’re not ready to provide what they want. That has always been the case, but it is more relevant today than it has ever been. Now, with a few clicks of a mouse or taps on a screen, customers can compare businesses and easily find ones ready and willing to supply what they want at a price they’re willing to pay. In addition, customers can easily check user reviews of companies’ products and services. Some businesses find the incessant challenge of being compared with competitors difficult to handle. I don’t. I regard it as an opportunity. I have been involved in many online businesses that thrived because they could instantly respond to customer demands and do it every time. That was our USP (Unique Selling Proposition). ?
Many online companies provide quality services and products, but the companies I was involved in went much further. Their driving philosophy was to always put customer satisfaction ahead of all else. That meant not only providing top quality products and services, but also a quicker, more reliable delivery system, and a seamless customer experience every time. In the movie based on David Mamet’s play “Glengarry Glen Ross” the corporate enforcer character played by Alex Baldwin gave the salesmen one simple instruction: “ABC – always be closing.” Of course closing sales is vital for every business, but I believe that you only close repeat sales if you first gain and retain a customer’s loyalty. In my experience, the only way to do that is summed up by three words: always be professional. ?
Retaining loyalty through constant professionalism with every customer interaction is not easy because customer expectations constantly grow. Handling customer expectations that constantly grow is one of the greatest challenges for businesses. It especially affects companies with major online operations. The ease of doing business online has created very demanding customers. The slightest perceived hiccup in their online experience with one company sends them straight to a competitor. Today that demanding attitude persists even when those customers deal with high-street businesses. ?
That kind of high pressure, dynamic environment can be difficult for some business people and the attrition rate in online businesses is very high. Some entrepreneurs, however, thrive in that kind of high pressure environment. I’m one of those. At 55, I’m at the ideal age for the job. Apart from the fact that I have the energy of a 35-year-old, much recent research now suggests that executives are at their best when they pass the 50 mark. People are living longer and healthier lives these days. A healthy 50-year-old could live another 40 years, maybe even more. Of course, it depends on how they looked after themselves throughout their lives. Like a car, if it’s regularly serviced and generally well taken care of, it could last twice as long as one that is generally treated with indifference and sees a mechanic only when something goes wrong. I’ve always been careful about my health. It’s never been a chore; it just came naturally, probably because of my parents’ good example. I get regular checkups, exercise every day, eat healthily, don’t drink alcohol, and don’t smoke. Happily, I’ve never had a serious medical problem.?♂️
That’s not so unusual these days. You could say 55 is not as old as it used to be, and most executives over 50, are mentally sharp, physically fit, and crucially, have decades of invaluable business experience behind them. They make more sound decisions because they’re backed by that wealth of experience. They avoid the mistakes of impulsive youth because they’ve seen how those mistakes can so easily happen, and, no doubt they’ve made a few themselves. That doesn’t mean they’re risk-averse. On the contrary, they take risks, but those risks are carefully calculated often with actuarial precision. At 55, some people are thinking about retiring. Retiring is the furthest thought from my mind. I’m at my desk by 6 a.m. raring to go, and working to get new projects up-and-running. I hope to be doing this for many more years. ☕
I have huge plans for Wuhan, and our dynamic team is being carefully chosen to drive results and ensure the success of those plans. I’m excited to be introducing our lines of Dr. AnnaRx™ CBD products. These include a skin care line, a hair care line, an oral care line, and a food and beverage line. We also have products specifically formulated for pets. All have undergone thorough medical clinical research supported by the latest technology. ??
I am honored and humbled to be asked to lead this company. The challenge inspires me and my vision is to make a significant difference and to quickly grow Wuhan for the benefit of our customers, shareholders, partners, and employees. The momentum is there, and a rich harvest awaits the fleet-footed investor and the smart entrepreneur. Taking control of Wuhan at this time, on this day, is the best birthday present I could ever have been given. ?
As for Tom Waits and Lady Luck, yes, she’s important, but only up to a point. I’m more in tune with the quote attributed to Thomas Jefferson. He said that the harder he worked, the luckier he got. I don’t know if he ever set that line to music, but if he had, that tune would suit me better. Sorry, Tom. ?