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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?
The biggest challenge is the constant need for new infrastructure to keep up with where the market is headed. As the industry consolidates, volume is increasing, but margins are thinning. The infrastructure that worked yesterday might not be competitive tomorrow. Navigating those shifts alongside compliance and licensing is always a hurdle, as is simply staying competitive in a crowded market. We are addressing this by staying forward-thinking, agile, and adaptive to change.
Where do you see the most exciting opportunity for growth and innovation in cannabis?
The most exciting opportunity lies in focusing on the brand and the end-user experience. We are seeing a major shift away from just farming and manufacturing toward becoming true branded consumer packaged goods (CPG) leaders.
What’s one piece of advice you would give to someone looking to break into the cannabis industry?
It depends on which part of the supply chain they want to enter, but I always say that growing a business is a lot like growing a plant. You need solid infrastructure (the soil), and you have to spread your roots deep and wide through networking and relationships. To stand out, you have to stretch and grow above the crowded canopy. You also have to ensure you’re feeding the business all the “nutrients” it needs—if one thing is lacking, the whole plant shows it. In this industry, you need a great product, a strong team, solid relationships, a clear brand, and a deep understanding of your numbers. It’s more than one piece of advice, but they’re all connected!
What is the most important thing you have learned from your experiences in the cannabis industry?
The power of teamwork.
What do you want your legacy to be as it relates to the cannabis industry?
From the early days until now, I’ve seen a lot of people come and go. I want to build a company that goes beyond myself as a founder-operator—something that stands the test of time.