5 strategies to reach financial success in the cannabis industry ⋆ Patriots Hemp

Tyler Beuerlein (Courtesy photo)

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From small-town dispensaries to multistate operators, cannabis executives must be particularly savvy with their financial management.

Cannabis companies can leverage certain strategies to gain an edge over their competitors, including cultivating relationships with industry experts, brainstorming innovative revenue streams and prioritizing compliance management.

Here are five key financial strategies for cannabis operators:

1. Prioritize positive cash flow

Achieving and maintaining positive cash flow is essential, and it requires closely monitoring revenue streams and expenses while paying special attention to key performance indicators, such as average basket size for retailers or yields per square foot for cultivators.

Many new operators overspend on unnecessary facility

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