Beard Bros Media continues to shape conversations within the cannabis industry, hosting engaging discussions with thought leaders and experts. In the latest episode of Financing Your Cannabis Future, host Rachel Wright, Fractional CFO at Verdant Strategies and 420 CPA, welcomed financial veteran Seth Yakatan to share insights on business strategy, pattern recognition, and self-awareness in leadership.
Kicking off the conversation, Rachel thanked the Beard Bros Media team for their contributions and highlighted the success of recent events, including MJBizCon. She teased even more excitement for 2025, encouraging audiences to stay updated through BeardBrosPharms.com.
The episode delved into Yakatan’s extensive career, which spans over two decades and includes raising and selling over $1 billion in transactions. Reflecting on his time in the financial sector, Yakatan detailed his journey from institutional investment at a $5 billion fund to becoming a key player in the cannabis industry. “Headlines aren’t usually reality,” Yakatan noted, emphasizing the importance of understanding the intricate processes behind every major financial milestone.
Key Insights from the Conversation
1. Recognizing Patterns in Business
Yakatan explained that identifying patterns and potential weaknesses—what he calls “Achilles’ heels”—is essential for business growth and sustainability. He described the importance of determining whether a company is ready for investment, sale, or operational changes, highlighting the need for self-awareness among leaders. “You can’t see your own blind spots,” he said. “That’s why I hire advisors to tell me mine.”
2. The Role of Advisors
Both Wright and Yakatan stressed the advisor’s role as a guide rather than a permanent fixture. “The job is to get the company ready for success and work ourselves out of a job,” Wright shared. Yakatan echoed this sentiment, likening advisors to Sherpas guiding companies up to the summit. “That last 10 yards, the entrepreneur has to walk on their own,” he added.
3. Leadership Evolution and Founder Dynamics
A key discussion point centered on founders recognizing when to step aside and allow professional management to take the reins. “Founders are scrappy by nature, but as companies grow, culture and professionalism become more critical,” Yakatan explained. Wright agreed, sharing her own experience of transitioning from a hands-on founder role to a more strategic leadership position.
4. Human Behavior in Business Decisions
Drawing parallels between personal growth and company success, Yakatan highlighted the role of self-awareness in avoiding repetitive mistakes. “If a CEO is making the same errors across multiple companies, it’s time to reassess,” he said. He further commented on the impact of social media and anonymity on leadership behaviors, arguing for increased accountability.
Key Takeaways for Cannabis Professionals:
- Understanding the Landscape: With Seth’s background in institutional investment and Rachel’s expertise, the conversation underscores the importance of preparation and realism in cannabis finance and growth strategies.
- Building Resilience: Entrepreneurs must develop self-awareness and resilience to navigate the volatile cannabis market successfully.
- Scaling with Care: Founders must recognize the value of professional management and strategic delegation for sustainable growth.
Looking Ahead
The Beard Bros Media team continues to provide valuable industry insights, bringing together experts like Yakatan to help cannabis businesses navigate challenges and seize opportunities. As Wright concluded the episode, she reiterated the importance of collaboration and the shared goal of driving the cannabis industry forward.
*The above article pertains to one discussion point from Financing Your Future a multi-faceted episode. Subscribe to our Beard Bros Network Media Live Series YouTube Channel. New to this B2B live series? Read more here.
