Marcello Leone, CEO of Bevcanna, joins A.J. to discuss his experience of running a company with a first-to-market product: cannabis beverages. They converse about several topics including what it is like to run a heavily regulated business, whether or not you should be open to selling your company, and how to align your personal goals with your business goals.

Tune in to learn about the challenges of running a company with a first-to-market product. 

On today’s podcast: 
Building the foundation of your business pre-revenue is the most challenging part of creating a first to market product. 
It is a great business opportunity that U.S. legalization of cannabis is not complete yet. You can be early in a new space and position yourself very well in the market.
The job of ensuring compliance is integral to the structure and successful operation of businesses in the cannabis industry. You cannot successfully run a cannabis business in the current environment without a sharp focus on ensuring compliance. 
Being open to all opportunities including not being too attached to your business and being open to selling allows you to consider what’s best for you more fully and therefore avoid missing out on lucrative opportunities.

Building a First to Market Business with Marcello Leone, Bevcanna

At Beyond 8 Figures, we believe in DELIBERATE entrepreneurship. It means creating a solid foundational framework for your entrepreneurial journey,  building from a place of passion, and intentionally aligning your actions with your goals so that you can create success on your terms.

Join A.J. Lawrence, the journeyman entrepreneur with several 7 figure exits, as he shares honest conversations with successful entrepreneurs about their experiences starting and scaling businesses to $10M and beyond, the realities of being a modern-day entrepreneur, advice for practicing deliberate entrepreneurship, and more!

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Strategic business relationships are often the backbone of thriving ventures, allowing individuals to combine strengths, resources, and expertise for mutual benefit. John Casmon, a real estate investment expert, has mastered the art of leveraging partnerships and other people's money to build a thriving investment portfolio. And in today’s episode, he walks us through the steps of identifying the right partners, negotiating terms that benefit all parties involved, and managing these relationships over the long term to ensure sustained success.  
About John Casmon John Casmon is the founder of Casmon Capital and a trusted consultant for active multifamily investors looking to launch or expand their operations. John hosts the popular Multifamily Insights podcast and co-created the Midwest Real Estate Networking Summit, connecting industry leaders and investors. 
 Before embracing real estate full-time, John led impactful marketing campaigns for major brands like General Motors, Nike, and Coors Light. His corporate background fuels his strategic approach to real estate, combining rigorous analysis with creative marketing techniques. John doesn't just see himself as an investor; he's a facilitator of wealth-building, helping others achieve financial independence through savvy real estate investments.  Key Insights:Leverage Other People's Money (OPM). Choose funding strategies that complement your financial capabilities. Using OPM allows you to undertake larger projects and increase your investment capacity without exhausting your personal resources, helping to accelerate growth while managing risk.Implement risk management practices. Developing a clear understanding of potential risks and preparing strategies to mitigate them helps protect your assets and ensures steady growth without unexpected setbacks.Create systems and processes. Implementing systems in investment analysis, property management, and client relations ensures consistency and quality, enhancing your business's reputation and operational efficiency.Build a robust network. Connect with individuals and groups who can provide advice, share opportunities, and partner on projects, enhancing your business's reach and capabilities.Align investments with your goals. Choose investment opportunities that support your long-term financial and business objectives, ensuring each decision moves you closer to your desired outcomes.
 John’s best advice for entrepreneurs:“I had to overcome that fear of losing money. And the way I did that was by aligning myself with people who can help me.”
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Create a Real Estate Empire from Scratch with John Casmon, Casmon Capital Group

Balancing work and personal happiness is never easy. But what if we told you that it’s not about balance but integration? Work-life integration is about weaving your personal interests and passions directly into your professional activities. Take Michael Juergens, for example: he started a winery in Bhutan by combining his passion and hard work, showing how this blend can lead to exciting business opportunities and happier life. And today, he’s sharing his journey to show how aligning what you love with what you do can help you achieve both personal and professional success.  
About Michael Juergens Michael Juergens, an experienced wine enthusiast and entrepreneur, built Bhutan's wine industry from the ground up. Discovering in 2016 that Bhutan had no vineyards, he founded the Bhutan Wine Company, now boasting around 200 acres cultivating 16 different grape varieties.  
 His journey into winemaking was fueled by over 25 years of traveling to global wine regions, where he gathered extensive knowledge and inspiration. Michael is not only a certified sommelier but also a master of wine candidate, reflecting his deep commitment to the wine world. His popular series, Drinking & Knowing Things, and its accompanying blog, translate his passion into accessible wine education.  Key Insights:Choose the right partners. Collaborating with like-minded individuals can significantly impact your business’s trajectory. Working with people who share your vision and drive can enhance productivity and foster a supportive network, which is crucial for business growth.Turn life experiences into opportunities. Any personal experience can lead to professional breakthroughs. Try viewing life's obstacles as chances to innovate and transform your business.Plan for the long term. Success often requires patience and a long-term perspective. Entrepreneurs should focus on enduring goals and be prepared to invest resources into projects that will mature over time, ensuring lasting impact and stability.Simplify your offerings. Making your products or services easy to understand and enjoy can widen your customer base. Demystifying your offerings will make them accessible to a broader audience, which can drive both engagement and loyalty.Embrace big challenges. Taking on significant challenges can lead to breakthrough innovations and open up new markets. Entrepreneurs who are not afraid to step into complex or untapped areas can set their businesses apart from competitors and capture unique opportunities.
 Michael’s best advice for entrepreneurs:“If you're chasing passions without ulterior motives, inevitably, things materialize that you wouldn't have expected.”
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Do Epic Sh*t With Cool People with Michael Juergens, Bhutan Wine Company

What happens when a struggling business adopts a structured business system? Such a simple change in management can lead to monumental growth. Join us for a conversation with Steve Maly, the founder of Maly Marketing, who took his marketing agency from chaos to clarity by implementing the Entrepreneurial Operating System (EOS). 
About Steve Maly Steve Maly is a seasoned entrepreneur who has guided his agency, Maly Marketing, to win several awards, including the Friend of Tourism award from Nebraska Tourism. He often speaks at conferences throughout the Midwest, teaching other businesses how to make their marketing efforts successful and measurable.  
 Outside of work, Steve enjoys playing golf and is committed to learning more every day, both in his field and beyond. He's also very involved in his community, serving on the board of the Nebraska Travel Association and the Lincoln Chamber's policy advisory committee, among other roles. Key insights for your business:Leverage your background. Your life experiences are a great source of unique perspectives and strengths that can drive your business vision and strategy. No matter the challenges you face, it can guide your decision-making, giving you an advantage in the competitive market.Adapt and evolve through systems. Structured business systems like EOS help entrepreneurs clarify business operations, align teams, and facilitate scalable growth. Adding more structure can help you address challenges systematically and ensure consistency in business practices.Embrace strategic networking. Actively seek out and participate in networking groups, masterminds, and industry associations that align with your business goals. These connections will provide critical insights, opportunities for collaboration, and access to new markets.Prioritize learning from every experience. Encourage your team to experiment, learn from outcomes, and iteratively refine approaches, even if these experiments fail. Invest in people and delegation. Investing in capable team members not only enhances business capacity but also allows you to focus on strategic growth and client engagement. Why waste time on the tasks others can handle for you?
 Steve’s best advice for entrepreneurs:“I knew if we continue to do the same things we've been doing, we're gonna continue to get the same results. And so I kind of had to take the leap of faith.” (10:46)
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From Freelance Gigs to a Thriving Agency with Steve Maly, Maly Marketing

Failures might knock you down, but the real test is how you rise. In this episode, Brad Pedersen, founder of Lomi, shares the crucial lessons of his entrepreneurial journey and explains how learning from failure can lead to building a more robust business model. 
About Brad Pedersen Brad Pedersen is an entrepreneur with a knack for innovation and sustainability. In 2008, he founded a leading toy company in Canada and later merged it to co-found Basic Fun. Brad also co-founded Pela, where he introduced sustainable phone cases, creating a new market category valued at $100M.  
 His latest success is launching the Lomi, the world’s first smart waste kitchen composter, through a $9.8M crowd-sourced campaign. Brad lives in British Columbia, where he enjoys the outdoors and focuses on making a positive impact through his community-driven businesses. Key Insights:Learn from every failure. When something goes wrong, dissect the situation to identify missteps and implement new strategies. This continuous improvement cycle not only prevents future failures but also enhances overall business resilience and efficiency.Prioritize strategic financial planning. Regularly reviewing your financial status helps you make informed decisions, anticipate cash flow shortages, and secure funding before it becomes a crisis, thereby ensuring sustained operational capability.Encourage reflection and feedback. Regular introspection allows you to stay relevant and responsive to market changes, which is vital for maintaining a competitive edge and adapting to consumer demands quickly.Cultivate resilience. Entrepreneurial resilience leads to quicker recovery from setbacks, minimizing downtime and maintaining customer trust and business continuity during challenging times.Harness the power of community. Engaging with your local community increases brand loyalty and awareness, while collaborating with other businesses can lead to new partnerships, expanding your network and resources, which in turn fuels business growth and innovation.
 Brad’s best advice for entrepreneurs:“I am going to feel the most fulfillment when I'm either growing or giving, period. That's it. And part of giving is creativity and giving into a business and challenging yourself to become the best and brightest version of yourself.” (27:39)
 
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Bouncing Back and Rebuilding Stronger with Brad Pedersen, Lomi

If starting a lifestyle brand has always been a dream of yours, this episode with Eric Bandholz, founder of Beardbrand, is a real treat. He shares how maintaining full control through bootstrapping allowed him to prioritize ethical sourcing and customer relationships over rapid growth. His story is a real inspiration for anyone who wants to create a business that not only succeeds financially but also supports their quality of life while staying true to their personal values. 
About Eric Bandholz Eric Bandholz started Beardbrand in 2012 with a simple goal: to make men feel awesome. From its beginnings as an online community, Beardbrand has grown into a major brand in the $3.2 billion beard care market, now offering a broad range of grooming products and even a brick-and-mortar barbershop in Austin. Eric attributes his success to staying true to his core values, especially freedom, which is grounded in stoic principles of focusing on what you can control.  
 A graduate of the University of South Carolina, Eric left the corporate world behind to create a community-centric brand. Operating as a bootstrap venture, Eric has steered Beardbrand, focusing on sustainable growth and independence, avoiding external investments. He advocates for the lifestyle business model, encouraging a balance between personal well-being and professional success.  Key Insights:Incorporate your core values into your business strategy. Core values are much more than psychology mumbo-jumbo; they shape every decision you make in your business. They help to reflect what your company stands for and attract customers who share these beliefs.Enjoy your entrepreneurial journey. Even though everyday tasks might often feel like a drag, finding meaning in them can help to maintain motivation and prevent burnout. And remember that there’s always something to celebrate, no matter how small.  Leverage bootstrapping for greater control. Using your own money to fund your business can keep you in control and help you make quick decisions that are right for your business without external pressure. Focus on sustainable business growth. Choose growth strategies that fit your goals and business vision. Opting for steady, predictable growth is better than chasing overnight success, as it helps to maintain product quality, protects your reputation, and ensures your business grows in a manageable way.Build and engage your community. Hosting events, starting discussions on social media, creating loyalty programs, featuring spotlight customers, offering behind-the-scenes content… These are just a few ways you can turn your buyers into brand advocates and build a community that supports your growth. 
Eric’s best advice for entrepreneurs:"What matters is that you're enjoying the journey [...] When you can focus on building today and what I'm doing at this moment, then it doesn't really matter where you end up."
Get Eric’s “Book of Reminders”

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Building a First to Market Business with Marcello Leone, Bevcanna

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