5 Keys to Being a World Class Cannabis CFO
Whether you’re looking to serve Cannabis startups as a world class CFO or are a Cannabis CEO in the making, knowing what it takes to properly position the company for success is imperative.
Now, we don’t say all of this to scare anyone away or to be gatekeepers in any form or fashion. We say this so that all parties can know what is needed in order to do well in this niche. We want this niche to thrive, and not die on the vine because the blind are leading the blind into dangerous territory.
...The Value Cannabis Accountants Provide for the Pre-Revenue Process
In order to apply for a Cannabis business license, state and local agencies often have similar (but different) requirements and hoops that hopeful operators must jump through in order to make it through the process. The licensing process is daunting and expensive for the simple fact that states' and local jurisdictions' requirements make it so that the prospective license holders may have to shell out thousands (or even millions) of dollars, and/or be on the hook for that much in expenditures, b...
8 Ways Cannabis Startups Differ from Traditional Startups (and the Vital Skills Accountants Need to Help Them Flourish)
Cannabis startups are much more complicated than traditional startups. They face a set of unique challenges that require accountants to be clear on state licensing rules and federal regulations regarding controlled substances, making Cannabis companies 10x more likely to fail than non-Cannabis.
We’re not talking about not being successful in business -- we mean getting audited and paying massive fines, criminal charges against CEOs for illegal market activity, loss of licensure, and running out ...