MJBizMagazine September 2021 - 82

SeedtoCEO | Sound Bites from the MJBiz Podcast
E
veryone wants to get in on the cannabis market. The new
podcast " Seed to CEO " gives marijuana entrepreneurs an edge.
Each week, MJBiz CEO Chris Walsh interviews a cannabis
executive to learn the stories behind their successes and failures.
To hear from those who have been there and done that, visit
mjbizdaily.com/podcast or listen to " Seed to CEO " wherever you get
your podcasts.
SEED
TO
CEO
Tune In Today!
These " Seed to CEO " podcast guests answered:
What was your biggest challenge or mistake when you started in the cannabis business?
JIM BELUSHI
Owner, Belushi's Farm
Eagle Point, Oregon
DENISE MINK
Owner, Med Pharm
Broken Arrow, Oklahoma
We were pheno-hunting: We had
240 plants that were vegging, and they
were different phenotypes.
They needed to be sprayed with
neem-an organic type of pesticide
that has been used for centuries-and
you've got to spray in the dark.
So, not only did I spray them with
lights on, I got distracted, left the barn
and left the lights on all night. And it
killed them all. Burned them up.
Thank God, we had some clones in
another part of the building. But we
had to wait another whole cycle. We
lost $300,000, maybe more.
You know what my cousin keeps
saying to me when I make a mistake?
It's tuition. For the education. So I've
paid my tuition.
I applied for every license, and they
gave me every one of them.
I said, " You got to be kidding me!
Time to go to Colorado and see what a
dispensary looks like. " I'd never been
in a dispensary before.
We did take a trip to Colorado.
I'm walking around taking pictures
thinking, " I'm going to have the same
products these people have, and I'm
going to know where to order them. "
I realized quickly that's not the case.
When we came back home, I realized
I needed to learn everything I could.
So I sought out people with knowledge
of cannabis. I sought out anyone that
had worked in the industry. And we
just started surrounding ourselves with
those people.
Quotes have been edited for length and clarity.
82 MJBizMagazine | September 2021
JAMES LATHROP
CEO, Cannabis City
Seattle
We bought a lot of product that was
exceedingly high priced early in the
market, and then we were stuck with it.
The law prohibits you from selling
cannabis for less than its acquisition
price. Producers had gouged us on
price so significantly that, as the prices
came down, we couldn't sell it.
We couldn't give it away-that's
illegal. And couldn't even sell it for half
of what we bought it for because that
was illegal. We bought it at such a high
price that it was garbage.
We had pounds (of marijuana) that
had to get destroyed because I couldn't
sell them.
https://mjbizdaily.com/podcast/ http://www.mjbizdaily.com/podcast https://mjbizdaily.com/podcast/

MJBizMagazine September 2021

Table of Contents for the Digital Edition of MJBizMagazine September 2021

MJBizMagazine September 2021 - 1
MJBizMagazine September 2021 - 2
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