What’s the biggest challenge facing the cannabis industry right now, and how are you and/or your company addressing it?
There is a pretty huge challenge between retailers and suppliers right now and it seems to be getting worse – retailers paying their bills within the agreed upon COD or Net ## terms. Suppliers have essentially become banks to retailers, with many invoices falling into being late by 60-90 days.
This trend will only get worse as retailers experience incremental increases in their Accounts Payable report, using profits from current product sales to fulfill severely overdue invoices. We need to help each other to correct this before it has a sweeping impact throughout the US.
Where do you see the most exciting opportunity for growth and innovation in cannabis?
Maybe more of a what or how for me…As regulators become more informed, I believe state compliance platforms will get dialed in to more closely align with the operations of cultivators, manufacturers, and retailers.
I also believe consumer education of cannabinoid profiles and terpene profiles will help them make better decisions. Lastly, consumer education will also lead to focusing less on where was it grown and instead, what was grown.
What’s one piece of advice you would give to someone looking to break into the cannabis industry?
Make sure you understand your motivation for getting into the industry, be crystal clear on what you are doing in the industry and deploy yourself and your resources conservatively.
What is the most important thing you have learned from your experiences in the cannabis industry?
We are all in this together and a rising tide helps all boats. We need to work together as operators.
What do you want your legacy to be as it relates to the cannabis industry?
Bringing more education and awareness of premium sun grown flower and the importance of terpenes while maintaining a profile of a regulatory gold standard.
Do you have a comment for Will?
