Top 3 Tips from Cannabis Conference

We were so glad for live events to return! Our own Sumer Thomas spoke on a cannabis licensing panel at Cannabis Conference 2021 hosted by Cannabis Industry Journal. Her top 3 tips from the discussion are below:

Question to the Panel: What are the best timing tips you’ve learned over the years?

Tip #1: First, like most things, the timing is crucial. Start early and keep your momentum.

Tip #2:  Make a timeline but understand this industry is rife with setbacks.

Question to the Panel: What’s the biggest budget mistake you see new teams make?

Tip #3:  The biggest budget mistakes I see are 1) not building a financial model and thus not having a realistic, yet conservative, prediction of their cash needs, and 2) overlooking substantial personnel costs.