I had the pleasure of hosting Guillermo Rodriguez, a Virtual CFO (VCFO) at Summit CPA Group, an affiliate of Anders CPAs + Advisors, on show recently. We discussed the multifaceted challenges faced by the cannabis industry.
Along the way, we delved into financial hurdles such as cash flow management, access to capital, and navigating tax complexities and explored the intricacies of market dynamics, emphasizing the importance of product mix, pricing strategies, and retailer education.
Guillermo underscored that in this constrained marketplace, the need for robust financial forecasting and planning, along with proactive sales accountability, are critical components not just for business but also for financing success. Our conversation highlighted the ongoing challenges of operating within a rapidly evolving regulatory and economic environment, underlining the importance of adaptability and financial prudence for cannabis businesses.