Developing premium cannabis and cannabis products is only half the battle for businesses seeking to distinguish themselves in an increasingly competitive climate. The other half, which requires careful planning, is to protect your business’s goodwill and proprietary recipes, formulas, and methods in order to retain your competitive advantage in the market and ensure customer loyalty. […]
Best Practices
Cannabis Conferences: Five Smart Tips for Getting the Most Out of Marijuana Trade Shows
We’re heading into trade show season. So for my latest Cannabis Business Executive column—where I regularly unpack the art of public relations in the cannabis industry—let’s dig into some smart ways to decide what cannabis conferences are worth your time and money, and how to get the most out of any event you attend. Trade […]
5 Red Flags Your Client Is About To Become Your Debtor
We have all heard that in business that nothing is more important than customers. Many corporations today recruit and pay steep salaries for C-Level executives that include titles such as Chief Customer Relations Officer or Chief Happiness Officer. In the cannabis industry, where reputation, community exposure and outreach are crucial for success, we work long […]
The Cannabis Market’s Growing Need for Trade Credit Data
Along with the rapid growth of legalization is the rapid growth of the industry’s economic status. For decades, conversations have surfaced surrounding the positive impact that the cannabis industry could have on our country’s economy; fixing taxes, reducing crime, etc.. As we move into 2018, it is finally coming into fruition, but one major aspect […]
The Evolution of the Dispensary: Automate What You Can and Let the Budtenders Offer a Personal Touch
As our industry matures, dispensary owners and customers have come to expect more satisfaction from the cannabis shopping experience. Unlike other retail businesses that have succumbed to the virtual marketplace, regulations governing how cannabis is marketed and sold require that dispensaries follow a more traditional bricks and mortar model. For proprietors like me, cannabis retail […]
Here’s Some Advice From Cannabis Executives in Uncertain Political Climate
President Trump voiced support for medical marijuana and states’ rights during his campaign, but Jeff Sessions, his pick for Attorney General, has opposed legalization, and will have the power to enforce the federal drug laws that could send people to prison. This political uncertainty adds a new level of risk to entrepreneurs who already operate […]
How Well Do You Know Your Numbers? Starting 2017 Off Right
By Simone Cimiluca-Radzins As many business owners scramble to get their 2016 financials in shape as part of the annual tax and 280E process, very few are working on their 2017 budget. Just as we do in our personal life, setting our business goals and budget is key to our success. The budgeting process starts with […]
Insurance Loss Control Issues for the Cannabis Industry
The International Risk Management Institute defines loss control as “a risk management technique that seeks to reduce the possibility that a loss will occur and/or reduce the severity of those that do occur. Also known as safety or risk control. Driver training is an example of a loss control program that seeks to reduce the likelihood […]
The End of Zero Tolerance? Drafting Workable Substance Abuse Policies in a Legal Cannabis Climate
Employers across the nation have long incorporated into their workplace policies a statement providing that their offices, job sites, and factories are “drug free” and that they take a “zero tolerance” approach to the use of drugs. The zero tolerance movement has enjoyed considerable popularity in the past 40 years, even meeting with official sanction […]
Top 5 Compliance Infractions: Colorado Medical and Recreational Cultivators
Editor’s Note: This is the second in a three-part series on top regulatory compliance infractions for medical and recreational retailers, manufacturers and cultivators. See here for the first part on Retailers. The Cannabis Industry is one of the most highly regulated industries in the world, on par with banking, financial services, pharmaceuticals, and health care with regard to […]
