Welcome to this transformative episode of the Kaya Cast Podcast, where we delve into the exhilarating world of scaling cannabis businesses. In today's session, we're joined by Leah Heise, the seasoned cannabis expert from Wolf Meyer, who brings her extensive background in scaling multi-faceted cannabis operations to the forefront.

Leah shares her incredible journey, starting from her role in helping establish and scale the operations at Forefront—an endeavor that catapulted the company to a public exit within just over two years. She articulates the rapid challenges faced during such fast-paced growth, including the crucial development of infrastructure across departments like finance, compliance, and human resources amidst incessant acquisitions.

Key to our discussion is the importance of building robust organizational structures, understanding the nuances of communication within expanding teams, and navigating the pitfalls common in the race to revenue and public listings. Leah's insights on implementing solid decision-making frameworks, such as RACI models, which clarify roles and drive efficient team dynamics, are particularly enlightening.

Moreover, Leah stresses the transformational potential of proper scaling strategies—emphasizing how even a business poised on the brink of operational chaos can systemize towards success when coherent plans and scalable infrastructures are set in place.

Whether you're running a startup that's hitting its first $15 million mark or steering an established entity towards $100 million, the principles revealed in this episode are golden. Also, Leah touches upon the shifting dynamics of the cannabis industry and offers a seasoned perspective on mergers, acquisitions, and the critical assessments prospective buyers should undertake.

For all cannabis entrepreneurs, investors, and enthusiasts aiming to understand the critical elements of scaling up without losing control, this episode with Leah Heise is an indispensable resource. Join us to unpack the strategies that could elevate your cannabis business from foundational floundering to phenomenal success.

Find out more about Wolf Meyer at:
https://www.leahheise.com/
https://wolf-meyer.com/

00:00 Introduction and Initial Thoughts on Scaling
00:50 Joining Forefront and Early Challenges
01:56 Rapid Growth and Public Exit
03:33 Lessons Learned in Scaling
03:56 Building Effective Communication Structures
06:28 Organizational Chart and Strategic Planning
14:27 Consulting and Helping Businesses Scale
17:40 Needs Assessment and Strategic Vision
23:56 Scaling Your Business: When to Implement HRIS Systems
24:28 Tech Stack Assessments: Keeping Up with Rapid Changes
25:24 Establishing a Rhythm of Business
27:49 The Importance of Mission and Vision Alignment
28:53 Cool Projects and Decision-Making Pitfalls
31:27 Key Considerations for Acquisitions
37:24 Current State of the Cannabis Industry
42:18 AI Adoption in the Cannabis Industry
44:10 Conclusion and Contact Information

In this illuminating episode of Kaya Cast, we dive deep into the transformative journey of Nikki Lawley, known widely at Nikki and The Plant. After a severe workplace injury altered her life and traditional medications failed her, Nikki stumbled upon cannabis, which not only alleviated her chronic pain but also revolutionized her perspective on healthcare.

As "the terpene lady," Nikki enlightens us on the significance of terpenes, the aromatic compounds in cannabis, explaining how they influence the effects of the plant far beyond just being indica or sativa. We explore how these insights can drastically change dispensary sales approaches, focusing on symptom relief rather than just seeking high THC content.

Sales tactics, deep dives into terpene profiles, and how dispensaries can enhance customer experience by focusing on educating both consumers and staff—all these topics are covered in this candid discussion. Whether you're a dispensary owner looking to refine your business model or a cannabis enthusiast eager to learn more about the medicinal benefits of the plant, this episode is a must-listen!

Subscribe to Kaya Cast Podcast to discover more ways to grow and scale your cannabis business with insights from industry insiders and experts!

Find out more about Nikki and The Plant at:
https://www.nikkiandtheplant.org/
https://www.linkedin.com/in/nikki-lawley/
https://www.instagram.com/nikkiandtheplant/

Highlights:
00:00 Introduction to Cannabis Journey
00:25 Life-Changing Injury and Discovery of Cannabis
03:57 First Medical Experience with Cannabis
06:10 Challenges in Accessing Medical Cannabis
09:07 Becoming the Terpene Lady
14:05 Understanding Terpenes and Their Effects
20:07 Educating on Terpenes and Cannabis
26:57 The Importance of Knowledge in Cannabis Sales
27:57 Effective Sales Techniques for Cannabis
28:53 Understanding Consumer Preferences
33:01 The Science of Cannabis Consumption
35:14 Cannabinoids and Their Effects
38:23 Increasing Dispensary Traffic
40:16 Targeting Specific Demographics
48:49 Medical Cannabis and Safety
51:47 Conclusion and Contact Information

#kayacast #nikkiandtheplant #cannabis #dispensary

In this game-changing episode of the Kaya Cast Podcast, we sit down with Theresa Dobrash from Seligson Law, a firm that specializes in guiding cannabis dispensaries through the legal labyrinth of the cannabis industry. Theresa, an expert in cannabis compliance, shares a wealth of knowledge that is essential for any dispensary owner aiming to navigate the complexities of regulations without stumbling.

Dive into the ABCs of compliance as Theresa explains how to structure a robust compliance playbook that keeps your operation running smoothly and legally. Find out why it's crucial to appoint an accountability agent within your setup, understand the boundaries of compliance, and ensure your chain of custody is foolproof to avoid legal pitfalls.

We'll also delve deep into practical strategies for handling surprise inspections and enforcement, designing efficient floor plans compliant with regulations, and setting up internal audits to keep your dispensary in check at all times. Theresa does not stop there; she reveals her insights on setting up SOPs that are comprehensive yet flexible enough to allow operational fluidity and growth.

This episode is loaded with actionable strategies to fortify your dispensary's compliance structure, avoid common pitfalls, and set you on a path to success in the cannabis industry. Whether you're setting up shop or looking to refine your existing operations, this discussion with Theresa Dobrash is your roadmap to compliance confidence.

Tune in to ensure you're not just surviving but thriving by staying compliant, efficient, and prepared for anything the regulatory landscape throws your way!

Don't miss this comprehensive guide to navigating cannabis compliance with expert Theresa Dobrash – equip your dispensary for success today!

Find out more about Seligson Law at:
https://www.linkedin.com/in/theresa-dobrash/
https://seligsonlaw.com/professionals/theresa-dobrash/
theresa@seligsonlaw.com

Highlights:
00:00 Introduction to Enforcement in Cannabis Compliance
00:32 Welcome to the Kaya Cast
00:57 The ABCs of Compliance
01:18 Designating a Compliance Officer
03:45 Setting Up a Compliance Program
05:13 Preparing for Opening Day
06:33 Common Compliance Challenges
11:44 Creating Effective SOPs
18:03 Adapting SOPs for Growth
20:31 The Role of Compliance Officers
21:59 Boundaries in Compliance
22:59 Understanding Compliance and Chain of Custody
23:54 Inventory Management in Dispensaries
25:08 The Importance of Documentation
28:14 Preparing for Inspections and Audits
32:37 Floor Plan and Operational Changes
37:51 Effective Inventory Counting Strategies
41:18 Balancing Compliance and Practicality
41:52 Conclusion and Contact Information

#kayacast #cannabis

Welcome to another enlightening episode of Kaya Cast Podcast, where we delve into the ins and outs of managing a successful cannabis dispensary. Join us as we sit down with Chris Reid, an expert from Cova, who shares his extensive knowledge on setting up and scaling profitable cannabis retail businesses.

In this episode, Chris challenges common assumptions about inventory and customer preferences, emphasizing the importance of data-driven decisions. Discover why the key to success isn't just about stocking what excites you, but catering to the actual buying trends of your demographic. Chris provides insights into where to find this crucial data, including services and resources that can help predict what your customers want to buy.

Further, we dive into inventory strategies for new stores, particularly in emerging markets. Chris suggests a dual approach - stocking widely initially, then refining based on consumer feedback and sales data. He also highlights the pitfalls of discontinuing products too hastily and the significant role sales associates play in moving inventory.

A major focus of our discussion is on the symbiotic relationship between retailers and brands, and how retailers can leverage this for better sales. Chris explains how involving brands in educating retail staff can lead to more passionate and effective sales, potentially transforming your bottom line.

Additionally, Chris touches on the operational aspects, like selecting a business model that aligns with your market, and the technological advancements from Cova aimed at enhancing retail efficiency and customer experience. He provides practical advice on maintaining a focused and motivated staff, the importance of hands-on management, and why every owner should be intimately knowledgeable about every aspect of their business.

Don't miss this episode full of actionable insights that could redefine the way you manage your cannabis retail operation. Whether you're setting up shop or looking to refine your existing business, Chris’s advice will guide you toward profitability and success.

Tune in to this episode of Kaya Cast Podcast on Spotify, Apple Podcasts, or directly on our website, and learn how to turn your cannabis retail vision into a thriving reality. Click on subscribe to ensure you never miss an episode!

Visit our website for more details and follow us for updates and exclusive behind-the-scenes content. Join the conversation by sharing your thoughts and questions on our social platforms. Let's grow together in the ever-evolving world of cannabis retail!

Highlights:
00:00 Introduction: Setting Up a Profitable Cannabis Retail
00:05 Understanding Consumer Preferences
01:22 Data-Driven Inventory Strategies
02:16 Sourcing and Inventory Management
05:01 Collaborating with Brands
10:11 Effective Staff Training and Customer Engagement
19:29 Leveraging Technology for Retail Success
24:45 Conclusion and Final Thoughts

Find out more about Cova at:
https://www.covasoftware.com/
https://www.linkedin.com/company/covasoftware/
https://www.instagram.com/covapos/
chrisr@covasoftware.com
https://www.linkedin.com/in/chris-jm-reid/

#kayacast #cannabis

Welcome back to Kaya Cast, where we dive deep into the strategies and challenges of growing a cannabis business. This week, we're thrilled to bring you an insightful discussion with Dennis O'Malley, CEO Co-pilot and strategic advisor at Echtrai. Dennis, alongside his partner Hannah O'Brien, specializes in turning around and scaling up companies, bringing invaluable foresight and experience to leaders navigating both thriving and turbulent waters.

In this episode, Dennis shares his wisdom on various pivotal topics:
- The Art of the Turnaround and Scale Up: Learn how Echtrai approaches businesses at crossroads, optimizing operations for both companies in distress and those ready to scale.
- Strategic Insights for Cannabis Ventures: With cannabis still being a relatively new and evolving industry, Dennis discusses the unique challenges and opportunities facing businesses today.
- Growth Barriers: What prevents a successful $10 million company from reaching the next levels of growth? Dennis breaks it down while also exploring how different definitions of success impact strategic decisions.
- Lessons from the Front Lines: Hear about the "fog of war" experiences from his previous roles outside cannabis, and how those lessons apply to the fast-paced cannabis market.
- Navigating Investor Expectations: From aligning with investor visions to managing board and CEO dynamics, gain an understanding of the top influences on decision-making in cannabis ventures.

Whether you're a first-time CEO or an investor curious about what it truly takes to scale a cannabis business, this episode is packed with real-world insights, strategy tips, and a candid look at the highs and lows of business growth.

Join us as Dennis also provides actionable advice for entrepreneurs looking to refine their strategic direction and adapt to the ever-changing marketplace conditions unique to the cannabis industry.

Find out more about Dennis and Echtrai:
https://www.linkedin.com/company/echtrai/
https://www.linkedin.com/in/domalley/

Tune in to gain a competitive edge and understand the nuanced dynamics of scaling a thriving cannabis operation in today’s market!

Highlights:
00:00 Introduction to Business Turnaround
00:55 Path to Becoming a Strategic Advisor
01:33 Challenges in the Cannabis Industry
02:07 Scaling and Marketing Strategies
06:44 Importance of Strategic Alignment
12:42 Effective OKR Implementation
22:52 Common Mistakes in Scaling
29:51 Turnaround Strategies and Investor Expectations
35:22 Conclusion and Final Thoughts

Find out more about Echtrai at:
https://www.linkedin.com/in/domalley/
https://www.linkedin.com/company/echtrai/

#KayaCast #CannabisBusiness

In this insightful episode of the Kaya Cast Podcast, we welcome Michael Ziegler, an esteemed CPA, President of Cannabiz Advisor and owner-operator of the highly successful Indigo Dispensary in New Jersey.

As both an accountant and a dispensary owner, Michael brings a unique and invaluable perspective to navigating the financial and operational challenges within the cannabis industry. Tune in as Michael shares his journey from opening his dispensary to optimizing its day-to-day operations. He dives deep into essential strategies for budgeting, particularly during the crucial build-up phase and the initial months post-launch. Learn why meticulous planning and conservative inventory management can make or break your cannabis business. Michael discusses the dangers of overstaffing and overordering, offering practical tips to enhance operational efficiency without compromising customer satisfaction.

Michael also touches on the importance of understanding sales forecasting, especially when historical data is lacking, and how to adjust your strategies based on real-time business dynamics. He reveals how building a loyal team and fostering a customer-oriented culture contributed to his dispensary being named one of the best dispensaries to work by Cannabis Business Times.

Whether you're a new entrepreneur in the cannabis market or looking to refine the operations of an existing dispensary, this episode is packed with actionable insights. From managing cash flow and inventory to enhancing customer loyalty and staff engagement, learn from Michael's experience and expertise to steer your business towards success. Don't miss this episode full of hands-on advice and industry wisdom that could help you streamline your operations, optimize staffing, and create an unrivaled customer experience in the competitive cannabis marketplace.

Michael doesn’t just talk the talk—he’s lived it. As the President of Cannabiz Advisor, a cannabis-focused accounting and advisory firm, Michael leads a team that supports cannabis entrepreneurs across the U.S. with compliance, financial management, CFO services, and tax planning. Whether you’re in your startup phase or scaling for multi-state growth, Michael’s advice is grounded in real-world results.

🔗 Want to learn more about Michael’s work and how Cannabiz Advisor can help your cannabis business grow?

Learn more about Cannabiz Advisor https://www.cannabizadvisor.com/

https://www.linkedin.com/company/cannabiz-advisor/about/

Explore Indigo Dispensary https://www.indigodispensary.com/

Follow Michael on LinkedIn https://www.linkedin.com/in/michaelzieglercpa/

https://business.chambersnj.com/directory/Details/indigo-dispensary-2602927

https://www.linkedin.com/company/chamber-of-commerce-southern-new-jersey/?trk=company_name

Highlights:
00:00 Introduction and Background
00:22 Budgeting Tips for New Dispensary Owners
01:12 Inventory Management Strategies
04:43 Staffing and Hiring Insights
07:39 Key Performance Indicators (KPIs) and Metrics
10:29 Importance of Customer Reviews
17:56 Preparing for 420: Customer Appreciation Day
19:34 Preparing for a Big Event
20:37 Inventory Management Strategies
21:03 Guiding New Businesses
22:10 Launching a Wholesaler Business
27:34 Importance of Customer Loyalty
32:09 Employee Experience and Retention
35:47 Financial Planning and Employee Benefits
37:53 Conclusion and Contact Information

#cannabis #kayacast

In this transformative episode of the Kaya Cast Podcast, host Tommy welcomes Bryan Fields, a standout voice from Eighth Revolution and host of the Dime podcast. Bryan brings a deep well of expertise in cannabis industry trends and the groundbreaking role of technology in shaping the future of cannabis businesses. From the strategic implementation of AI to understanding efficiency beyond buzzwords, Bryan sheds light on how modern tech solutions like AI agents and digital tools are steering the cannabis industry towards a more efficient, compliant, and customer-centric future.

Whether you're a seasoned operator in the space or a business owner navigating the complexities of the cannabis market, this episode offers a treasure trove of insights on leveraging technology to streamline operations, improve customer experience, and maintain compliance without sacrificing innovation. Bryan also dives deep into the implications of technological advancements, sharing personal experiences and predictions that could redefine the operational strategies of cannabis businesses in 2025 and beyond.

Join us as we explore the fascinating interplay between technology and cannabis with one of the industry’s leading thinkers. Tune in to gain a competitive edge in a rapidly evolving market and discover how staying abreast of technological advancements can elevate your business. Whether it’s improving internal processes or enhancing customer interactions, learn why starting small and thinking big could be the key to your enterprise's success.

Find out more about Eighth Revolution at:
www.8threv.com
https://www.eighthrevolution.com/the-dime/
https://www.linkedin.com/in/bryanfields24/

Highlights
00:00 Introduction to the Cannabis Industry
00:36 Future Trends in Cannabis Technology
01:10 Efficiency and Digital Agents
03:26 AI in Customer Service
05:43 Challenges and Learning in AI Deployment
08:20 AI's Impact on the Workforce
11:31 AI in Compliance and Packaging
14:38 Innovations in Cannabis Extraction
17:55 Understanding COA and THC Levels
19:07 Applying Oil and Gas Principles to Cannabis
19:29 Parallels Between Restaurant and Cannabis Industries
19:50 The Importance of Leadership and Mindset
21:31 Challenges in Employee Turnover and Domain Knowledge
24:39 Adoption of Technology in the Cannabis Industry
26:39 Real-Time THC Monitoring and Extraction Efficiency
32:17 Future Plans and Wider Applications
34:53 Conclusion and Final Thoughts

#kayacast

In this essential episode of Kaya Cast, we delve deep into the often overlooked but vital world of insurance for cannabis dispensaries. Join us as we sit down with Michael Sampson from Symphony Risk, a seasoned expert in crafting tailored insurance solutions for the cannabis industry. Michael brings his extensive experience and insights on why it's critical to secure the right insurance policies from the get-go, rather than scrambling for coverage after trouble strikes.

We cover a gamut of topics including the intricacies of property insurance, general liability, product liability, and the increasingly crucial area of cyber insurance. Michael provides invaluable advice on what policies every dispensary owner should consider and the common pitfalls in insurance contracts that could leave you exposed when you least expect it.

Learn about the strategic importance of detailed policy review, the impact of insurance language on claims, and how best to prepare and respond if things go awry. Michael also sheds light on additional coverage types like directors and officers insurance, professional liability, and the unique aspects of coverage specific to the cannabis sector.

Whether you’re just starting in the cannabis business or looking to tighten up your existing operations, this episode is packed with expert advice to help you safeguard your dispensary and navigate the complex world of insurance with confidence.

🌱 Tune in to gain a comprehensive understanding of cannabis business insurance and how it fits into your overall growth and risk management strategy. Avoid common missteps and learn how to leverage insurance effectively to protect your investments and secure a prosperous future in the cannabis industry.

🎧 Listen now on Spotify, Apple Podcasts, or your favorite podcast platform. Don’t miss this enlightening discussion that could save you from costly oversights and secure your business’s longevity.

Find out more about Symphony Risk at:
https://www.symphonyrisk.com/
https://www.linkedin.com/in/mhsampson/

Highlights:
00:00 Introduction to Insurance Language
00:37 Welcome to Kaya Cast
01:11 Importance of Early Insurance Planning
01:54 Essential Insurance Policies for Dispensaries
03:14 Property Insurance Insights
08:20 General Liability Insurance Explained
10:25 Claims and Policy Terms
12:20 Occurrence vs. Claims-Made Policies
16:27 Navigating Insurance Exclusions
28:46 Proactive Insurance Strategies
37:47 Final Thoughts and Contact Information