Brett Puffenbarger

Holistic Approach to Revenue Operations A common error in management is compartmentalizing sales, marketing, and operational roles too rigidly: that all teams are aligned and working towards common goals. Marketing should generate leads that sales can close effectively, while operations should ensure fulfillment capabilities match sales efforts. Recognize that while sales teams are directly responsible for driving revenue, other departments like marketing and PR play crucial supportive roles that prepare the ground for sales to succeed. Each function strengthens the other, and their activities should be integrated rather than segregated

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The One Measure Every Cannabis Firm Needs to Care About All MSOs and LPs want to reduce/avoid cost and increase profits over the long term. After capturing the low hanging fruit (e.g., implementing layoffs) what is left to do, short of divesting assets?  Boost productivity. Productivity is about getting more output for a given input.  Think of it as increasing the number of PCs you could produce over a period with a given workforce and asset base.  However, productivity is much more than throughput.  Highly productive companies can also defer hiring, scale easier, and limit costly errors.  Some will disagree, but the impact on your workforce is irrefutable:  productivity gains lead to higher wages, more engagement, and enhanced skills. Productivity is a simple idea but with lots of complexity.    In my experience, unlocking productivity gains require improvements in one or more of the following drivers: 1. Raising employee skill levels through regular training schemes;   2. Deploying labour saving automation and IT; 3. Cutting organizational flabbiness (i.e, bad practices, rules and structures) and;     4. Optimizing compensation programs to incentivize greater effort, innovative thinking etc. Before embarking on a productivity-lifting journey, it’s important to know where you want to see improvement and how you will measure it. Some commonly understood (albeit crude) productivity metrics are units or kgs produced or revenue per employee.  With today’s market dynamics, some MSOs and LPs may want to consider gross profit or net income per employee as their measure. Choosing the right mix of productivity drivers will depend on your business model, quality of management, level of IT & organizational development and culture.  Some methods such as tweaking sales team quotas can yield quick results but also introduce bad behaviors.  Other strategies like upskilling your staff could take a year or two to generate a ROI. The rate of productivity growth also depends on your starting point.  If you begin with a low level of IT, automation or skills, the incremental return on capital and productivity jumps will be very high. However, the improvements tend to slow down after initial or big leaps.  There’s no ‘silver bullet’ to boosting productivity.   Enhancements in areas like cultivation yields or marketing performance will typically advance at a ‘slow burn’ pace.  My cannabis data suggests that about 50% of productivity rewards happen when each worker has more data, IT and equipment at their disposal - and knows how to use it.  Increasing productivity, therefore, will be as much about investment as anything else.     Subscribe to my free newsletter (link in comments), the Cannabis Management Review, for more unique content. 🔔 Hit that follow bell to always get my unique, impactful content #cannabisindustry #productivity #cannabis #operations #costs #cannabiscultivation #MSOS #LPS

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Awesome morning🌅, Entrepreneurs, Professionals, Leaders, and Creators! Check out this excellent and insightful article by HIGH TIMES A.J. Herrington! Ben Kovler, the CEO of Green Thumb Industries (GTI) is pitching a merger between his company and The Boston Beer Company, the manufacturer of the Samuel Adams family of brews. The Boston Beer Company has a market capitalization of about $3.6 billion, while Green Thumb Industries (GTI) is worth about $2.8 billion! Alcohol consumption is declining with young adults drinking less than previous generations. Stock market analyst Aaron Grey, CFA, CPA, CEO of Alliance Global Partners, said on Monday that the proposed merger would allow The Boston Beer Company to enter new markets as alcohol sales continue to decline. Aaron stated that a Green Thumb merger with Boston Beer would give the cannabis company a listing on the New York Stock Exchange, making its shares available to a wider base of shareholders. Read more below 👇🏿

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🌿 ALERT: Major Shift in Federal Cannabis Regulation 🌿 📜 The DEA, in agreement with the U.S. Department of Health and Human Services, has proposed moving cannabis from Schedule I to Schedule III under the Controlled Substances Act, signaling a historic shift 50 years in the making. 🔬| 💵 This move will open up research opportunities and allow state-legal cannabis businesses to claim federal tax deductions previously denied under IRS code 280E. ⚖️ Although this doesn't legalize cannabis federally, and some penalties remain, it acknowledges cannabis's medical use and lower abuse potential compared to more dangerous drugs. 📊 Over 30,000 healthcare professionals in the U.S. can now recommend cannabis for medical purposes, highlighting its recognized medical benefits. 📢 Next steps? The proposal moves to the White House Office of Management and Budget for review, then to public comment before possible finalization. 🚀 Join the Movement! 🚀 This monumental shift towards groundbreaking federal cannabis reform is just the beginning. Now, more than ever, having a united voice and a dedicated space to learn, adapt, and advocate is crucial for shaping the industry we envision. Don’t miss out—click the link in our bio to become a CIAO Member today and ensure your voice is heard!

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In the linked article, I discussed the operational challenges that Impact Farms LLC faced as a result of the current U.S. Border Patrol policies impacting the legal cannabis industry in New Mexico. Our experience with unexpected checkpoint seizures has underscored the need for regulatory change to support not only our operations but the industry at large. I encourage professionals within and connected to our industry to read about these pressing issues and consider the broader implications of our current regulatory environment. Read the full article here: Biden Called On to Help With Checkpoint Seizures https://lnkd.in/grraAqR3. Let’s work together towards sustainable solutions. #CannabisIndustry #BusinessAdvocacy #RegulatoryReform #ProtectThePounds Thanks Joshua Lee New Mexico Cannabis Chamber of Commerce The Plug Ben J. Lewinger Matt Kennicott Top Crop Cannabis

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It's 2024, and product mislabelling is still very much a big problem in the Hemp industry. Why are there so many mislabeled products in the hemp industry and what should be the way out? This problem was discussed in my latest contribution on Cannabis Tech (see the comment section for a link to the article. #cannabis #cannabistech #CBD #CBDindustry #THC #FDA

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With adult use coming more and more consumers will be seeing long lines and wait times. Spendr provides a speedy transaction that will enable your dispensary to be able to serve more customers every day!! Spendr transactions take seconds! Forget counting out money or awaiting ATM usage with the likelihood of running out of money by the end of the day. Dispensaries that adopt Spendr will see the difference! Spendr is more than just payments with rewards! Reach out to Lucas Gould to learn more!

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💸 Forecasting Fortunes: The Crystal Ball of Cannabis Cultivation! Growers, are you navigating the complex cannabis market, unsure of which strains will yield the highest value? 📈 CannAppraisal Research Group is your beacon in the haze. We specialize in statewide MSRP research, providing a clear picture of the most valuable strains —independent of brand influence. 🧬 Our unique approach examines the market holistically, identifying strains that promise high-end value and rapid market movement. 🚀 We’re not just looking at the present; we’re forecasting the future, giving you insights into what’s next. 🔮 Why settle for guesswork? With our data, integrate strains seamlessly into your brand, aligning with market trends and third-party offerings. 🤝 Be the trendsetter, not the follower. Our exclusive research is the key to unlocking market potential, ensuring your selections are ahead of the curve. 🗝️ Ready to cultivate success? Message CRG Founder Graham to begin elevating your strain selection strategy. Let’s grow a line that’s not just diverse but explosively popular, even *across* states. 🇺🇸 Don’t miss out! And pay it forward ➡️ by reposting, so your buds can discover how we can transform their offerings too! 💌 #CannabisCultivation #StrainSelection #MarketResearch #CannAppraisal #GrowWithConfidence #MSRP #CannabisConsulting #CannabisIndustry #CannabisResearch

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Want to know the biggest mistake I see #cannabisindustry operators making? It's not understanding the graphic below 👇 I see it time and again. "We need marketing" followed by "Why aren't they closing sales." Or "Why won't this PR agency guarantee me article placements?" Or "I hired a sales team and it's working for our wholesale business, but not doing a thing for retail" The list of examples could go on for a bit... The reality is: Every. Single. Cannabis. Company. Needs. It. All. They just don't know that. They THINK they need 1 or 2 of them, and then some slick sales person promises them the world. They sign on with a marketing agency expecting sales, or a publicist expecting advertising, or SOMETHING like that. 6 months later the account rep is catching heat for it. The business owner is mad and likely hurting in the pocketbook region. The agency's reputation is damaged. Or... They hire a new CMO and expect them to run a sales team, or they hire a new VP of sales and wonder why the marketing calendar is hurting and all the article pitches keep getting rejected. Or... They hire someone and expect them to do 5 jobs, or they hire an agency and expect the same level of commitment as an employee. Or. Or. Or. Many Scenarios. Same Errors. Every Time. And it's always the operator's fault. ALWAYS. It's their duty to ask the right questions. Here's my three best tips to start you off right: 1.) Clearly explain your goals, and ensure any KPIs align with them. Want more sales? Tie success to that metric alone, and make sure you get a detailed explanation about how each planned activity drives towards that goal. 2.) Agency's scale faster, Internal Teams scale better. Early stage companies need strategy internally and to contract out the work, late stage companies need to contract out the diversity of thought (and occasionally the work). Hire accordingly. 3.) Think holistically. CROs and Rev Ops people get a bad rap for being "just another sales guy" but with some spreadsheets... and that just isn't the case. A good CRO (Even a fractional one, or an agency filling that role) is the glue that holds the front end of a business together. Find one of those and you can ignore the rest of this post. Have any other tips on this topic? Drop them in the comments 👇 Disclaimer: This post is brought to you by a former sales person who got a master's in PR (that he rarely uses) and parades around as a marketer (and somehow people believe it). 🤷‍♂️ Take it with a grain of salt. 🧂

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You have to hire experts if you want to make it in cannabis. From your grower to marketing, it's crucial to hire professionals who know what they're doing. And, you have to have a budget!

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Benzinga Cannabis takeaways: 1. Talked to a few marketing agencies as I continue to think growth at a reasonable cost is one of the most important metrics in cannabis. - One agency talked about how they could help my business achieve a 10x return without much substance or details as to how they're able to achieve such an outsized return. - Another, checked in with me personally, talked about aligning interests between our businesses and wants to explore a strategic partnership. The latter, was received much better. Wish agencies would stop flashing high level big return numbers without meaningful detail and case studies to back it up. I smell bs. 2. Majority of folks think Florida passes recreational cannabis in November. However, I now understand 5 and maybe 10MG hemp intoxicating products will still be allowed for sale in Florida even if they take a more restrictive stance on hemp. I'd love to increase exposure to Florida operators however I'm not certain the ballot will reach the 60% it needs to pass. 3. No one knows about rescheduling. Not even worth hearing opinions on it as the government continues to be a rather black box on when and how this will happen. Show me time. Enough talk. 4. Prohibition has never worked and it won't work with intoxicating hemp products. This was a lightbulb moment for me because it's true. Intoxicating hemp products are here to stay and at worst we will see some sensible regulation which would still make the market more attractive than the non-sensible regulations in the legal state markets. 5. Equity capital is still very restrictive however more companies achieving profitability and righting the ship. Some large pensions sniffing around and may make a play. Debt lenders out in force. I stay away from those financing options. 6. Some investors not even interested in new limited market states because they know all to well that markets continue to follow a pattern of explosive revenue and high margins to slower growth, oversupply, increased competition and margin compression as everyone fights for their piece of the market. Wise take. I've passed on entering new markets because the early value achieved is short lived. 7. Border town dispensaries in MI are crushing it. MI has better product, pricing and taxes than IL and dispensaries on that boarder are enjoying strong foot traffic and large basket sizes. 8. Beverages. Really showing up and all have positive feedback from their launch into the intoxicating hemp market. Larger TAM, bigger POs, better payment terms. What's not to like? 9. Really awesome people. The cannabis community, despite many bad actors, has one of the best communities and is what keeps most of us in the industry. Free the plant | People > Profits | Plant Medicine ☘

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Despite stringent regulations on cannabis legalization, THC products are cropping up everywhere! 🌿 Explore the unexpected dynamics driving the thriving cannabis market in certain regions. 🧐 Curious about the trends fueling this phenomenon? Dive deeper! #CannabisMarket #THC #CBD #CannabisIndustry

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As we navigate the ever-changing landscape of cannabis reform (and according to recent news, it's changing a lot), it's crucial to explore innovative strategies that can lead to broader legalization and societal acceptance. 🥤 Mainstreaming low-dose THC beverages is not just a viable option but a transformative strategy for normalizing cannabis use, much like alcohol in social settings. Low-dose THC beverages have the potential to reshape public perception. And, despite facing some skepticism, I believe this approach actually lowers the barriers to entry for those who would normally participate in equity license programs. 🔗 Check out the full article for an in-depth analysis and join the conversation on how we can collectively support this promising path towards a more inclusive and equitable cannabis future. Let's champion change together! Read more here: https://lnkd.in/g9CR_ipD #THCBeverages #SocialEquity #cannabisreform #drinkcannabis #infusedinsights #legalizeit

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In California, if you have a license to manufacture cannabis products you can’t sell anything else. Imagine having a beverage facility and being unable to can virgin beverages, let alone hemp beverages. Hemp, on the other hand is permissible to be put into food and beverages. If you’re a food and beverage manufacturer, you obtain an industrial hemp authorization and you can make hemp derived products in your facility. Adult-use cannabis products can only be released to a licensed cannabis distributor, who only had cannabis products on their trucks. They can only deliver to one of 200-300 licensed cannabis retailers in California that actually pay their bills. Not a very addressable market. Licensed cannabis operators that pivot to hemp want to serve more of their fine products to more people, and they aren’t going to wait for cannabis laws to make logical sense. If you’re a licensed cannabis operator who isn’t in hemp, your frustrations are valid. Why not direct your energy to the state?

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📣📣 Please drop a quote below if you'd like to contribute to a NisonCo PR, SEO and Content Marketing June #cannabisindustry blog 📣📣 🗳 Election Day cometh. But what will come in the American #cannabis melee before? 💬 If you have an opinion, exercise that First Amendment right and comment on this post! Your comment may be selected for inclusion in an upcoming #cannabisbusiness blog. ➕ Please also note in your comment (or via DM) your preferred name/title, if it varies from what is on LinkedIn.

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