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Disrupting the Cannabis Industry with Adam Coates

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In this conversation, Adam Coates, CRO of Decibel, discusses his background in the cannabis industry and the company's approach to disrupting the market. He shares insights on the growth and future of the industry, emphasizing the importance of appealing to a wider audience and making cannabis more accessible. Coates also addresses the perception of corporate cannabis and the need for both large and small companies to succeed in order to drive industry credibility and positive change. He highlights Decibel's focus on building demand before investing in infrastructure and the company's commitment to selling quality cannabis products. In this conversation, Adam Coates, the CEO of Decibel Cannabis Company, discusses various aspects of the cannabis industry and shares insights into sales strategies, consumer feedback, hands-on leadership, revenue challenges, government regulations, and future plans.


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Takeaways

  • Many cannabis companies have shifted from building their own sales teams to working with sales agencies to reduce costs.
  • Learning from consumer feedback is crucial in developing successful cannabis products.
  • Hands-on leadership and involvement in the day-to-day operations of the business can lead to better decision-making.
  • The high excise tax burden and government regulations pose challenges in generating revenue in the cannabis industry.


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    00:00 Introduction and Technical Difficulties

    04:27 Adam Coates' Background and Experience in the Cannabis Industry

    08:09 Transition from the Liquor Industry to Cannabis

    12:38 Perceptions of Corporate Cannabis

    19:26 The Growth and Future of the Cannabis Industry

    30:32 The Success of General Admission and Blinker

    38:35 Decibel's Approach to Disrupting the Cannabis Industry

    45:21 Overview of Decibel and its Operations

    49:45 Sales Strategies in the Cannabis Industry

    50:45 Learning from Consumer Feedback

    51:20 Hands-On Leadership

    52:28 Gaining Insights from Working in Retail Stores

    53:41 Making Better Decisions with Contextual Knowledge

    55:12 Challenges in Generating Revenue in the Cannabis Industry

    58:31 Government Regulations and Taxes

    01:01:30 The Future of Cannabis Industry Regulations

    01:01:53 Favorite Products and Future Plans

    01:04:01 Closing Remarks

    ...more
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    Are We Recording?By Keats and Sarah