From Pot to Popular

With more states beginning to open legal cannabis markets, the needs of dispensaries are shifting, and technology providers have struggled to keep up. Evolving consumer demands and regulations require retailers to stay agile and efficient, and ineffective software can hamper a business's scalability and long-term growth. In this episode, Kyle Sherman, Founder and CEO of Flowhub, discusses the cannatech company’s new intuitive, flexible, and performant solution — Flowhub Maui — focused on helping cannabis retailers increase profits, operate more efficiently, and create superior customer experiences. Kyle also talks about his journey to launching Flowhub, the company’s efforts to support federal legalization and how social equity programs move the industry forward.

The pace of innovation and change in the cannabis industry is relentless, so remaining eager and adaptable is key to ensuring success. As regulations evolve at the state and federal levels, opportunities have arisen for operators to attract new customers, educate both experienced and inexperienced consumers on cannabis, and provide memorable and elevated experiences through consumption lounges. With lounges set to open in Nevada this year, operators are looking to create safe, clean atmospheres for guests to enjoy cannabis in a fun and engaging setting. In this episode, Brandon Wiegand, chief operating officer at Thrive Cannabis Marketplace, discusses the future of cannabis consumption lounges, the delicate balance between catering to tourists vs. locals, and how lounges can differentiate themselves in the market. Brandon also talks about the challenges of competing against a robust illicit market, what growth looks like for Thrive, and why there are benefits to waiting for federal legalization.

Midterm elections are drawing closer while voters are preparing for ballot initiatives on cannabis in Maryland, Arkansas, North Dakota, South Dakota, Missouri and Oklahoma. The upcoming votes may carry large implications when forecasting the future for the legalization of cannabis in the United States. What’s the next move for U.S. policymakers if cannabis becomes legal in 25 states? In this episode, Brian Vicente, Founding Partner of Vicente Sederberg LLP, discusses lessons learned from his time writing the legislation that brought cannabis legalization to Colorado in 2012 and explains how his firm grew to be one of the largest in cannabis law. He also offers insights on this year’s November ballot initiatives and tells us why the opening of adult-use stores in New York is a major milestone for cannabis policy worldwide.

With every passing moment, emerging industry innovators are looking for new ways to penetrate the market and create new distribution channels. As the cannabis space continues to develop, new businesses continue to pop up, but how exactly does a 150-year-old brand adapt and identify a path to success? In this episode, Scott Grossman, corporate development vice president for Turning Point Brands, reflects on his early experiences in the cannabis reform space, emphasizes the importance of brand building and discusses the evolution of the iconic Zig-Zag brand. He also offers insight regarding his transition from a more behind-the-scenes role in business investment to a public corporate development role with Turning Point Brands. Along the way, Rosie and Scott talk about what excites them in different cannabis markets across the U.S.

Cannabis entrepreneurs face a number of challenges with cash management while navigating a strict financial framework preventing most major banks from working with the cannabis industry. Passing the SAFE Banking Act would open doors for more financial institutions to assist cannabis operators, but will that immediately solve all of the industry’s payment processing problems? In this episode, Daniel Muller, CEO and Founder of Aeropay, explains how his company evolved from providing payment solutions to local businesses in Chicago to applying the same technologies to process compliant digital cannabis payments. He discusses how Aeropay differs from cashless ATM payments and shares his vision for the growing payments ecosystem and the rapidly evolving technology within the cannabis space.

The success of any industry is largely dependent on those who work in it and the cannabis industry is certainly not exempt. Dynamic leaders in the human resources field are needed to put the best candidates in a position to succeed as a company grows and evolves. In this episode, Tyneeha Rivers, chief people officer at Curaleaf, highlights the qualities she looks for in a potential Curaleaf team member, discusses the retention strategies needed to retain high-performing talent and examines what the future holds for her company. Rivers also explains how the 25 years of human resources experience she gained from working for the Philadelphia 76ers, Harris Blitzer Sports & Entertainment, Curio Wellness and various Fortune 500 companies has prepared her for role at Curaleaf. Before concluding this in-depth discussion about human resources in the cannabis industry, Rivers offers advice to those looking to enter the cannabis job market and highlights the need for diverse workspaces as the industry continues to expand.

The cannabis beverage sector is becoming increasingly competitive with each new product, offering a wide variety of seltzers and infusions to consumers across the company. With this in mind, brands looking to break into the beverage space must enter with a unique, distinguishing perspective to stand out. In this episode, Warren Bobrow, founder of Klaus, discusses how his brand’s cannabis beverages differ from the rest. He emphasizes the need for simplicity in recipes and sourcing high-quality ingredients from around the world to create the best-tasting beverage possible. Leveraging his mixologist expertise, Warren explains the nuances of craft cannabis and his goal of creating a new dialogue around beverages in the space.

Inconsistent regulations, ever-evolving markets and rapid growth across sectors mean that cannabis companies do not and cannot operate in the same way as traditional, mainstream brands. In this episode, Aaron Miles, chief investment officer at Verano, discusses his experience in taking two cannabis companies public, expanding the brands nationally and navigating industry pain points. He highlights the necessary changes cannabis companies must make in order to run efficiently and shares the nuances of industry challenges in regards to aspects like banking, federal and local regulation, raising capital and more. Miles also shares how Verano’s new partnership with Mission Green will further efforts to assist companies whose success has been inhibited by cannabis prohibition.

Cannabis brands and dispensaries have traditionally lacked access to retail data in comparison to mainstream industries. In this episode, Pistil Data CEO Jeffrey Graham explains how he combined his expertise in analytics with his experience at Twitter and Google to revolutionize the way cannabis brands pinpoint promising sales opportunities and understand their local competition through targeted data. Jeffrey also shares his insights on successfully fundraising at this stage of the industry and his outlook on future growth opportunities.

The cannabis industry has experienced astounding growth over the past several years, but has done so with both hands tied behind its back. Cannabis operators are still barred from accessing institutional capital, thanks to the plant’s federally illegal status. Fortunately, there are a number of lenders navigating around these challenges and connecting cannabis businesses to the capital they need to thrive. In this episode, George Mancheril, CEO of Bespoke Financial, discusses his company’s mission to leverage fintech expertise to provide non-dilutive financing options to companies across the supply chain. He explains how Bespoke operates as a bridge between capital and cannabis, illuminating the challenges faced in cannabis financing and predicting the role that financial institutions will play when cannabis is finally legalized.