The California cannabis market is plagued with inefficiencies, fallout pricing, unfair advantages, scarcity mindsets, and trust issues.
Last year when we spoke to Eliza Espinoza of Seventh Wave, she couldn’t confidently say that her social equity cannabis business would survive. A year later, we’re happy to report that Seventh Wave is going strong.
The most important part of scaling is being able to handle new business. Using technology as a husband and wife team means they can save money and take advantage of new opportunities. They can do heavy-lifting tasks without having to hire another person.
As a minority-owned company with a background in fintech and supply chain, we created centralized software solutions to level the playing field for social equity brands like Seventh Wave.
In software, inputs affect outputs. This concept is universal. That’s why our approach is to focus our inputs on people, processes, and technology.
The People Came First
There’s a lot you need to know to manage a cannabis business. While the industry has similarities to other industries, there are nuances specific to cannabis. Nobody knows these better than legacy operators.
There is a misconception that the traditional market is inferior and unprofessional compared to legal markets. But before legalization, people managed billions of dollars in cash without the savvy tools or guidelines we have today. In fact, legalization made things more difficult. The transition from legacy to legal demands a huge pivot. Because so many legacy operators are people of color who endured the brute force of the war on drugs, they lack the resources to succeed.
But just because a company has millions of dollars does not mean it will be able to navigate the market. There have been multiple big companies that have gone under recently.
At the end of the day, legacy operators understand the nuances of cannabis best. That’s not to say people entering the industry from other fields aren’t valuable, but to forget our roots would be a grave mistake.
We believe that legacy operators have already paid enough of a price and deserve to be here. It’s our responsibility to help them succeed, just like respecting our elders. That’s why our mission is to connect the most knowledgeable people with the right processes.
Trust the Process
Everything is a process. The better a process, the more efficient, easier, and gratifying your work will be. In cannabis, having a strategic approach helps you train people, stay compliant, avoid expensive risks, save money, and know what to do in certain situations.
With our software tools like Listo, you can address general inefficiencies, redundancies, and things that take a long time. It automates purchase orders, contracts, invoices, and tracking. Operators who use Listo can stand out because they save time and set themselves up to scale.
The earlier you set up a functional process built for scale, the better. But because regulations are so challenging, businesses often end up piecemealing their Standard Operating Procedures (SOPS) as they go. This is very ineffective and expensive. You need your process to work for you right from the beginning.
When we help companies develop processes, we focus on their goals, strengths, and the things they’re simply amazing at. It’s best to let people concentrate on what they are good at and leverage our network to find someone to do the rest.
Tech To Do What We Do Better
When people work in a transparent framework, they don’t have a choice but to be honest and straightforward. Transparency inherently fixes issues because everyone has visibility and agrees to the same terms. A typical example is blockchain.
Thanks to over-regulation and over-taxation, the cannabis industry is horribly imbalanced and opaque. We believe that the right technology – meaning technology built with intentional inputs – can help restructure existing frameworks to provide users with more control. By default, it will also prioritize value chains.
With Listo, our centralized sourcing software acts as a backbone that connects people to fully automated and transparent processes. Think of it as the industry’s endocannabinoid system.
Ultimately, our goal is to connect the right people with the right process and technology to allow them to do what they were already good at before legalization.
To further our efforts, we’ve partnered with a distribution, delivery, and transportation company. We are also looking for more partners to grow our scalable model. This will allow us to expand our network by combining the right people and companies with complementary skill sets. In the future, we will be able to provide additional services to supplement our software solutions, such as packaging, labeling, and transportation.
To learn more about how we can support you, reach out. We’re here for you.