“We have to remember that we’re at the very beginning of this industry; nobody has ever done what we are doing. And, of course, there's going to be mistakes, and there's going to be learning opportunities. But the name of the game is pivot. You’ve got to try things, be willing to be flexible and to understand the market, and be able to pivot when things change.” – Marianne Cursetjee
The finer details of this episode:
Episode resources:
Timestamps:
The welcome (00:00:00)
Introduction to the Cannabis Success Show and its focus on helping cannabis businesses grow.
Marianne Cursetjee’s journey (00:01:23)
Marianne’s personal story of entering the cannabis industry after a cancer diagnosis and her transition from traditional tech and finance roles.
Securing land and property (00:04:21)
Challenges and process of securing land and property for cannabis cultivation, including navigating regulations and real estate barriers.
Business model and focus (00:08:03)
Discussion on Alibi Cannabis' business model focused solely on cultivation, the importance of staying lean, and resisting the temptation to integrate retail.
Market challenges and quality focus (00:10:05)
Adapting to challenges in the flower market, maintaining quality, and the impact of wholesale pricing compression on the business.
Consumer education and regulations (00:15:55)
The impact of regulations on consumer experience, the role of education in consumer choices, and the importance of quality in the market.
Production cycle and planning (00:18:54)
The monthly production cycle from seed to sale, the challenges of planning and reacting to market changes, and the time investment in the growth cycle.
Raising upfront cash for business (00:21:39)
Discussion on the challenges of raising upfront capital for indoor cannabis cultivation and the long cycle of cash tied up in the business.
Managing construction costs and risk (00:22:47)
Marianne discusses the stress of initial capital outlay, construction, and equipment purchase, and the strategy of starting small to manage risk.
Impact of potential rescheduling (00:24:59)
The conversation touches on the potential impact of rescheduling, specifically the potential reschedule of cannabis as a Schedule III substance.
Interstate commerce and market revolution (00:28:03)
The discussion explores the potential impact of interstate commerce on wholesale pricing and the revolutionizing of the cannabis market.
Challenges and potential of hemp market (00:37:04)
Marianne discusses the strict regulations and challenges in the hemp market, emphasizing the need for collaboration between the cannabis and hemp industries.
Excitement for future progress (00:43:45)
Marianne expresses hope for the potential improvement in cash flow and debt payment in the cannabis industry due to potential rescheduling.
Overall Industry Challenges (00:44:26)
Discussion on challenges and opportunities in the cannabis market, emphasizing the need for flexibility and collaboration.
Paying Down Industry Debt (00:45:41)
Exploration of the impact of paying down industry debt and the importance of being customer focused.
Contact Information (00:46:59)
Information on where to find Alibi Cannabis, including website, Instagram, and LinkedIn, and the importance of access for everyone.
Conclusion and Call to Action (00:47:29)
Closing remarks and a call to visit the podcast's website for more industry tips and strategies.
