Cannabis companies looking to grow beyond one or two locations need to think carefully about how they do that, said three experts in last week’s Grown In webinar, “Becoming An Enterprise Based Cannabis Company”.
“When I think of enterprise, I think of companies or organizations that can or are looking for operational leverage,” said Michael Piermont, president and CRO of Leaf Trade. “It’s about how you change behavior. It’s really behavior modification. How do we get the whole company to do the same thing?”
The hour-long discussion brought together Piermont, Gary Cohen, CEO of cannabis POS company Cova Software, and PharmaCann’s Manager of Application Implementation and Training, Alyssa Kramer.
Becoming an enterprise-based company, where your company builds systems to track as much data as possible, is painstaking, but completely changes how you run your business, says Cohen.
“In a non-enterprise situation, almost all your information is backward-looking. In an enterprise situation, it is real time and forward-looking,” he said.
If you’re running more than one location, you want to have an enterprise system for sales, inventory, and personnel management, because if you do something once, you’re likely to do it a second time, says Kramer. But building an enterprise system means you need total buy in from the top of the company, with a team committed to implementation that goes beyond your tech staff.
“In becoming enterprise, the most powerful tool you can have in your pursuit is having commitment from the tip top of your organization to data collection of the integrity of the data you are collecting and to create a sustainable business process in creating that,” said Kramer.
Learn more about the webinar participants and questions on Grown In’s learning page for the webinar.