David Miller, the pioneering CEO of FlowGardens, joined me for an interesting conversation recently. During the show, David eloquently explained his transition from finance into the burgeoning cannabinoid industry.
David described the challenges of operating in Tennessee’s complicated market and FlowGardens’ focus on developing unique cannabis genetics and alternative cannabinoids like CBC, THCV, and CBDV. He also emphasized the importance of educating consumers on the vast potential health benefits of these lesser-known compounds. For example, early studies showed promising anti-cancer and anti-inflammatory properties of CBG and CBC.
He explained the challenge of shifting consumer focus away from high THC strains alone towards more balanced, holistic medicinal options. Though Tennessee’s strict regulations present obstacles, David remains optimistic, highlighting the opportunities it provides for innovation. He even sees potential for interstate sales from FlowGardens despite restrictions.
While Tennessee’s governor has opposed cannabis in the past, David looks ahead with positivity. He sees an evolving landscape in the state, full of possibilities for his avant-garde company. It was a pleasure to listen to his perspective on nudging the industry forward in a restrictive environment.
Join Richard Zwicky weekly in discovering new insights into the business of the global cannabis and psychedelics industries. A successful entrepreneur & consultant who has built organizations in multiple industries across four continents, including one of the largest cannabis producers in Latin America, Richard has built teams from startup through to 500 people spread across over 10 countries, and regularly consults to businesses of all sizes with regards to their growth strategies, go-to-market plans, and paths to funding.
With insights drawn from multiple industries, Richard helps current and aspiring investors gain clarity of vision and insights into the drivers of growth and success in the cannabis and psychedelics industries in the US, and globally.Â
Richard Zwicky engages in a comprehensive discussion with Guillermo Rodriguez, a Virtual CFO (VCFO) at Summit CPA Group, an affiliate of Anders CPAs + Advisors, about the multifaceted challenges faced by the cannabis industry.
They delve into financial hurdles such as cash flow management, access to capital, and navigating tax complexities. They also explore the intricacies of market dynamics, emphasizing the importance of product mix, pricing strategies, and retailer education.
Guillermo underscores the need for robust financial forecasting and planning, along with proactive sales accountability, as critical components for success. The conversation highlights the ongoing challenges of operating within a rapidly evolving regulatory and economic environment, underlining the importance of adaptability and financial prudence for cannabis businesses.