(This is an abridged model of a column that seems in the July difficulty of Marijuana Business Magazine.)
If you’re like most entrepreneurs in the marijuana extraction sector, you could have visions of constructing a company that’s so profitable that scaling up is correct across the nook.
The key to creating your dream come to fruition is having the imaginative and prescient – and the endurance – to develop in line with a considered monetary sense.
That’s essential recommendation at any time in the cannabis trade, but it surely’s particularly essential in the course of the COVID-19 disaster.
Sure, many marijuana companies are at the moment pulling in the reins on spending – and rightfully so – however others see this as a time to strike.
“There’s no better time than now to expand your business if you’re serious,” stated Mara Gordon, co-founder of Aunt Zelda’s, a marijuana company in Northern California.
“The whole entire game has changed now that we’re an essential business,” she stated, referencing the designation states supplied to firms allowed to remain open in the course of the coronavirus pandemic.
Gordon and different consultants contacted by Marijuana Business Magazine highlighted three key areas extraction firms ought to contemplate once they’re trying to scale up: