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What’s the biggest challenge facing the cannabis industry right now, and how are you and/or your company addressing it?
Companies are struggling to scale and grow, as well as weather the storms of this industry. Specifically ancillary businesses, who unlike operators, have a greater ability to navigate these ups and downs with the right direction. We often see this in orgs where the founders are exceptional visionaries, but eventually hit a growth ceiling and need additional executive guidance (that they struggle to afford on payroll).
The Mycelia Group’s services address this head-on by plugging in top-tier industry veterans and executives into organizations to provide both strategy and execution—at a fractional rate with no long-term commitments or bloated payrolls (i.e. fractional executive services).
We have a full C-Suite network (COOs, CFOs, etc.) in addition to in-house Chief Revenue Officers who can focus on things like creating multiple revenue streams to mitigate risk and building infrastructure that scales.
Where do you see the most exciting opportunity for growth and innovation in cannabis?
Hands down, the most exciting opportunities for growth and innovation are in the technology sector of cannabis. New and improved systems such as point of sale, artificial intelligence (wide variety of applications, including consumer education and outreach, scientific research), processing and manufacturing, etc.
What’s one piece of advice you would give to someone looking to break into the cannabis industry?
Come into this industry by leaning into what you are already exceptional at. If you’re excellent at Human Resources, bring those talents to HR in cannabis. If your specialty is HVAC, sales, marketing, or bookkeeping — whatever it may be — don’t try to reinvent your own wheel. The industry is best positioned now to receive support from channels and experts outside just cannabis because for years, those doors were otherwise kept closed and locked away.
What is the most important thing you have learned from your experiences in the cannabis industry?
Be laser-focused on your mission and don’t get distracted by too many shiny objects.
Constantly build relationships and welcome advice and guidance from good people around you so you can avoid keeping yourself too siloed. But, always take it with a grain of salt.
What do you want your legacy to be as it relates to the cannabis industry?
I want my legacy to be centered around two things:
1. Elevating women and women-owned companies in any capacity possible.
2. Having been a major proponent to cannabis businesses, especially those positively impacting our industry and communities, by providing them the tools, guidance and resources to grow and succeed.