How to Run a More Profitable Cannabis Business
Cannabis businesses are faced with higher compliance costs and higher taxes when compared to other types of businesses. Additionally, in a lot of states the markets are saturated and there is increased competition. Many times the owners are wearing so many hats— many of which they should not be doing because they don’t like it, is not productive, or a good use of their time. There is a system to create a path to a more successful and profitable cannabis business. Attendees will learn how cash is more important than profit, and how profit is more important than revenue. The five drivers of revenue, profit, and cash flow will be taught. Attendees will also learn about targets and forecasts, and how they should let the right numbers drive their decisions. We will demonstrate how to keep a scoreboard about what to do every month to keep on track to achieve higher profits and increase cash flow. Lastly, the audience will learn how to create financial objectives and actionable plans to move the needles closer to their targeted numbers.