What’s the biggest challenge facing the cannabis industry right now, and how are you and/or your company addressing it?
The biggest challenge facing current and legacy operators is the conflated overhead they have that is dragging them down. Of course 280E and SAFE banking would help, but there are still so many operators out there who haven’t evaluated their insurance, employee benefits (i.e. staff turnover prevention), and their internal company culture. This is not the green rush, you need to be smart with all of your financial decisions in operation and investment.
Where do you see the most exciting opportunity for growth and innovation in cannabis?
The minor cannabinoids and hemp materials have always been exciting to me. There are not a lot of products that are focused on minor cannabinoids, and they can be difficult to isolate.
Hemp materials (building materials, textiles etc) are hard to come by. Beit by regulation or lack of demand, I feel there is a huge upside here, and a lot of potential for growth.
What’s one piece of advice you would give to someone looking to break into the cannabis industry?
Do not expect to be successful day 1, no matter your background. There is a steep learning curve and it is important to surround yourself with people who know the industry and who are not looking to take advantage of you.
What is the most important thing you have learned from your experiences in the cannabis industry?
Improvise, Adapt, and Overcome. I actually re-learned it in cannabis from my time as an Infantry soldier. You will face obstacles that are unexpected (and even stupid) but there will be no way around it. Improvise, adapt, and overcome. Pivot, change the perspective of your idea, find a new niche, or create a new product. Have something different to offer the cannabis space, and you will find success.
What do you want your legacy to be as it relates to the cannabis industry?
That Tyler focused on always doing his best for his industry industry colleagues, and that is what made him successful.
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