Episode Library

Organic and premium flower not only attracts discerning customers, but also wins some of our industry's top awards. So in this week's episode, Chip sits with David Miller and Eric Maelzer from Flow Gardens Indoor Cultivation to talk about how these two founders and cannabis entrepreneurs are bringing organic and hydroponic grown premium hemp flower grown in East Tennessee to the marketplace. And their stuff is really good! They’re Emerald Cup Winners and High Times Cup Winners so they know wha...

Entrepreneurs start bootstrap companies and leverage their unique skills to grow a business. As they achieve success, many founders fall into the same trap, where they hold on to too many responsibilities and struggle to delegate tasks effectively. As a cannabis entrepreneur, you need actionable solutions to this challenge. So in this week's episode, Chip provides effective steps every cannabis business owner can take to increase your company's value and delegate tasks off your plate. We ...

In some circles private equity has gotten a really bad reputation, but the reality of the value of private equity to the economy is much more positive. If you're thinking about talking with a private equity partner in the future or just curious about how private equity in the cannabis industry works, this episode is for you. So, in this week's episode Chip dispels the myths about private equity with facts and give you the top three things every founder should know about private equity. Plus, ...

It’s one of the fundamental questions all owners must wrestle with: should you own a big chuck of a small company or a small piece of a large company? And this is especially important if you're starting up a cannabis company and thinking of funding growth with equity. Owning a relatively small slice of a big pie has worked out well for both Elon Musk and Jeff Bezos, but they may be the exception. So, in this week's episode Chip shares four good reasons why your best bet is to own a big chunk o...

This week's episode is all about answering questions from cannabis business owners. Chip covers a range of topics, from resources to help you step back from your cannabis business without getting fully out, to lease accounting, to finding and keeping great budtenders, to the best software solutions for your cannabis business. Whether you're just getting started or you've been in the industry for a while, this episode is sure to have something for everyone. So tune in and learn everything you ne...

Most every cannabis business starts small. It’s you and maybe a few investors realizing your dream of starting up a new cannabis venture, maybe in a state that just went legal. A lot of small businesses, cannabis or otherwise, stay small though either by choice or because they start chasing growth in the wrong places. So, this week let's talk about your cannabis business and its growth. Chip reveals the main factor why some businesses never achieve scale and realize growth. And we'll discus...

Do you feel stuck in the middle of your cannabis business, and maybe can’t even take a vacation? Well, the good news is there’s hope! And good reasons to get your business to run itself. A cannabis business that’s not dependent on its owner is the ultimate asset to own. It allows you complete control over your time so that you can choose the projects you get involved in and the vacations you take. And when it comes to getting out down the road (if that’s in your plans), a business independent...

We’re headed into uncertain economic times. Between inflation, and the continuing war in Ukraine to another election where all these folks seem to do is yell at each other from the top of their lungs. And while the cannabis industry has generally been mostly immune to rough economic times, and even grew during the pandemic in a lot of ways, it still creates complications in running your cannabis business. One of these best strategies includes following general guidelines on how others hav...

No matter what business you're in, pricing is always a key consideration. But when it comes to the cannabis industry, pricing can be especially tricky. There are countless factors to consider, from regulatory compliance to supply and demand. In this week's episode Chip outlines some of the most important considerations when setting prices for cannabis products and services. You'll learn how to price your product or service so that you can win in the competitive cannabis market! We all know th...

As more and more states legalize the plant, cannabis businesses – even existing ones – are presented with more profit-earning potential. But before you start any business, you need to have some idea of what the industry landscape is like: What's the earning potential? What risks will you face? Who's your competition? Given the cannabis industry’s relatively short history -- and with new states coming online all the time -- the industry is always changing and evolving. Which means for both the ...

Embracing digital adoption and integrating data tools properly are two critical ingredients in the recipe of successful cannabis businesses. In fact, the use of data that has been prevalent in mainstream companies of all shapes and sizes is starting to gain traction in the cannabis industry. And that's because using data properly can be a total game changer in terms of data utilization on your cannabis business’s sales and overall profitability. So, in this week's episode Chip welcomes Jeffrey...

One issue that seems to be coming up a lot lately for cannabis business owners is cash flow, and for good reason. If your business runs out of cash, and cannot borrow from somebody or get more investment capital, then it’s probably about to fail. For your cannabis business to be as healthy and prosperous as possible, you need to keep an eye on profit, but also on cash flow. So this week Chip hones in on cash flow and talks about four reasons why cash flow is so important. And even if profit is...

Cannabis business owners are always looking for ways to save money in all aspects of their businesses, and none more so than with taxes. But with IRC 280E it can get very difficult to minimizing what you pay to Uncle Sam and also put that money back in your pocket. So in this week's episode, Chip sits with Justin Klein of Klein Capital Investments to talk about unique, legal tactics to save on cash taxes for your cannabis business. Justin is an experienced Certified Financial Planner (CFP) who ...

Bitcoin, Etherium or DogeCoin! You can't go anywhere anymore without hearing about cryptocurrencies. Add to that the lack of safe banking for marijuana companies and the risk of so many cash transactions, and you may be curious if cryptocurrencies are an option for your cannabis business. Well, this week Chip talks all about cryptocurrencies and what you, the cannabis entrepreneur, should know about them. If you’ve thought about it, you'll learn some things maybe you didn’t know. And if you’v...

You probably already know that a customer or employee dependency can undermine the value of your cannabis business, but have you ever stopped to think how one of your suppliers could also lead to a valuation drop if you ever want to sell your business? In our study of over 55,000 business and thousands of actual transactions, we know that acquirers want to invest in businesses that inoculate themselves against danger. And, being dependent on a supplier can be a risk. So in this week's episode,...

It's tax time again, and that means it's time to pay Uncle Sam! It also means the IRS once again ramping up audits of cannabis businesses. Yes, it seems as though the IRS is emerging from a COVID-induced slumber to once again set their sights on marijuana companies in legal states. And, when you understand that the average IRS audit of a cannabis company returns nearly 6 times the dollars to the Treasury per hour as compared to the average mainstream business audit, it’s easy to see why cannab...

Cannabis-infused products are among the growing trends in the diverse ways to consume marijuana. And, one of those products, cannabis-infused syrups, has already enjoyed consumer acceptance and excitement. In this week's episode, Chip spoke with Kenny Cottrell and Chris Johnson with Cannalean Infused Syrup. Cannalean creates specialized THC and CBD infused beverages for the growing cannabis drink market and this is clearly one of the trends we’re expecting to see in the cannabis industry. Canna...

While taking time off from work is often much-needed to get away from a hectic work life, research also shows that it is important for your health. Whether you have three days, one week or two weeks of glorious vacation time, doctors say that if you don’t take advantage of this break from work, your stress and mental health will suffer. But for the cannabis entrepreneur, it can be tricky. Between when and how you should take time away to your employees knowing your company’s philosophy on ...

Hey Fam, taking a short break so no episode this week. But, we'll be back on March 15 with another dope episode! Until then, check out: Episode 15 - How to Build a Successful Dispensary with Christy and Haley from Haus of Jayne Episode 01 - The 10 Reasons Why Investors Pass on Investing in Your Cannabis Business Connect with The Business of Kush: Click here to Sign up to get e-mails from me Follow The Business of Kush on Instagram for bonus content and tips to grow your cannabis business, and j...

The growth of your cannabis business is essential. However, to grow any enterprise you must continually seek ways to turbocharge its engine and cannabis businesses are no different. Essentially, you need to develop strategies that will drive sales to ever-higher levels while ensuring that your growth in revenues translates into higher cash flow and rising profits. So in this week's episode Chip talks about the four things you can do to turbocharge your cannabis business. Plus, we'll have our "...

There are a lot of reasons business, either cannabis or mainstream, fail. Some of them are due to poor management, not being in a definable niche or just plain dumb luck. And, while these circumstances are frustrating, a lot of times they’re unavoidable. At the same time, there are common themes we see from failed businesses that come up time and time again and really don't have much to do with management style or with luck. The good news is once these issues are identified, they’re straight-f...

One of the most interesting phenomenon you’ll ever see with entrepreneurs is called the "hub-and-spoke" owner. A natural attribute among successful entrepreneurs, it's similar to being in the middle of your business like a hub is in a bicycle wheel. The hub-and-spoke model is helpful for founders to get their cannabis companies up-and-running. At the same time, because acquirers generally avoid hub-and-spoke managed businesses, Chip talks in this week's episode about the nine ways to know if yo...

Christy Spanton and Haley Hunt are building a boutique hemp dispensary in the most improbable of places: deep in the heart of Texas. Through hard work, dedication to educating their customers and a love of the plant, Haus of Jayne is quickly becoming a destination stop. Established in 2020, Haus of Jayne offers a complete shopping experience and a relaxing environment. In this week's episode, Christy and Haley join Chip to talk about their success path in quickly building Haus of Jayne, includ...

Think for a moment about what does the word valuable mean for you and your cannabis business? Maybe it’s a business you can pass along to your kids or other family members? Maybe it’s one that you can use as a platform to acquire other cannabis businesses in different markets or geographies, or as a means to vertically integrate. Often when we talk about a valuable cannabis business we’re talking about one that’s a million dollar business. In this week's episode, Chip talks about what’s so sp...