With cannabis pundits, be careful who you listen to
The messenger is as important as the message
Different experts [sic] claim they know how to build high-performing companies. Do they? Could they?
Fact: almost everyone is new to the pot sector and see the industry through their unique lens. Consider these exaggerated archetypes:
Legacy & craft growers – success to them is about product quality, passion and celebrating the cannabis culture. They just need capital - yours. Building a profitable, scalable and professionally managed business? That will look after it itself.
Ex CPG, tobacco & alcohol execs – This group takes the methodologies and regulatory practices they know and automatically applies them to cannabis. Success is simply about aping companies like Bacardi or Unilever, except that it took leading firms many decades to build scale and perfect their businesses.
Bankers – Bankers perform the critical functions of providing capital and governance. Too often, hubris and a lack of operating experience prevent them from formulating strategy, appreciating execution and understanding what it takes to build real capability.
Six years in the cannabis sector has taught me one fundamental lesson. Cannabis is a unique business and there is no perfect source of talent or thinking paradigm.
Diversity rules.
#experts #bankers #OG #legacy #CPG #Alcohol #tobacco