How to be successful in any environment

These are volatile times in the cannabis industry. From wholesale price compression and supply chain pressures to shifting regulations and changing consumer trends, businesses must be ready and eager to tackle anything as the market continues to evolve.

Colin Kelley, senior operating partner at Merida Capital Holdings, will speak at Cannabis Conference 2023 on how operators can leverage an understanding of all the major drivers and impacts to their business to control what they can and plan for the rest—in a sense, moving from surviving to thriving in an industry plagued with challenges.

Here, Kelley offers a preview of his tips for businesses looking to be successful in any environment, from creating a living budget to evaluating costs and making changes to strengthen their financial positions.

Editor's note: Colin Kelley will speak at Cannabis Conference on the "ALL-ACCESS PASS: Built To Last: Shifting From Reacting To Planning Ahead To Withstand Market Volatility" session, which will run from 10:30 to 11:15 a.m. on Wednesday, Aug. 16. In this session, learn how to look for the interdependencies in your business, how to create a living budget, how to evaluate your fixed and variable costs, and how to streamline your production, post-harvest, procession, packaging, labeling, (and so much more). Visit www.CannabisConference.com for more information and to register.

Melissa Schiller: What are some of the most pressing issues facing cannabis operators today, from wholesale price compression and supply chain pressures to consumer behavior and spending?

Colin Kelley: [As far as] common themes, we’re seeing that it’s a very tight money-raising environment or fundraising environment. Capital is very tight. It’s also coming in different forms. There’s a lot less equity investment than what we’ve seen in the past. Folks are taking on debt and then the terms of that debt are very different.

Continue reading.

Headshot courtesy of Colin Kelley

Source: