šIn this episode of 'Under the Microscope,' host Jenny Germano welcomes Ernest Toney, founder of BIPOCann, to discuss the keys to building a sustainable cannabis business by focusing on working on the business and not just in it. Ernest shares his journey from working in sport health and wellness to entering the cannabis industry and founding BIPOCann in 2020. Jenny and Ernest cover a wide range of topics, from the importance of having a business plan, navigating regulatory frameworks and authentic storytelling to working through challenges related to funding and access to capital, especially for minority and underrepresented entrepreneurs. They discuss the significance of relationship building and the unique value propositions that can set a cannabis business apart in a competitive market. Whether you're an aspiring cannabis entrepreneur or a seasoned operator, this episode is packed with valuable insights and practical best practices.
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šæ Our Host: Jenny Germano, Founder of ICS Consulting š ICS Consulting: https://www.icsconsultingservice.com
šæOur Guest: Ernest Toney, Founder of BIPOCann šBIPOCann: https://bipocann.com
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ā° Timecodes ā°
01:20 Ernest's Early Career and Transition to Cannabis 03:50 Addressing Market Gaps in the Industry 09:11 Challenges and Strategies for Cannabis Entrepreneurs 13:26 Importance of Business Planning 20:07 Financial Projections and Proformas 28:31 Funding Challenges for Micro and Social Equity Licenses 29:06 Challenges in the Cannabis Industry 29:56 Access to Capital and Financial Barriers 35:08 Branding and Storytelling in Cannabis 41:03 Navigating Market Entry and Licensing 45:15 The Importance of Relationship Building 52:09 Final Thoughts & Wrap Up
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Legal Disclaimer: The content shared on this channel - including all videos, podcasts, interviews, and discussions is provided for educational and informational purposes only. It is not intended as legal, compliance, or business consulting advice, and should not be relied upon as such. Laws and regulations surrounding cannabis and related industries vary by jurisdiction and are subject to change. Always consult with a qualified attorney or licensed professional before making decisions that could have legal or regulatory consequences for your business. Listening to or viewing this content does not create a client relationship between you and ICS Consulting, Under the Microscope with Jenny, Jenny Germano, or any of the podcastās guests. Any opinions expressed are those of the individual speakers and do not necessarily reflect the views of ICS Consulting or its affiliates.
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