Hi, Guero Cripper, highly capitalized coming to you from Missouri. And MJ Unpack. We're talking about the future of cannabis. I'm with my good friend Janice. Janice, tell us about finance and cannabis. It's a crazy world out here. Yeah. So as you know, there's a lot of crazy things with tax, with the way that we could do accounting. We also have operational consulting to try to help with cash flow, which we know is a key. And so we're very busy. It's very complicated, but we love it. So how long have you been in the cannabis industry? So I've been in the cannabis industry since 2017. Our firm's been in it since 2012 when it first came online medically in Massachusetts. Wow. OK, So you've been holding us down for quite some time. So, you know, when new people are starting companies and, you know, with 280 E tax burden, all these kinds of things, should they be getting fractional CI hear all these terms? What would you advise a young person? Just trying to get into the game in terms of financial like planning like yeah. And those kinds of that's a really good question because at the beginning people don't want to spend money on administration, particularly because it's not deductible under 280 E So we always say the most important thing is to set up the right structure, know if you should be a seaport versus an LLC, Yep, that advice 1st and then from there you can flow into how your accounting should go. And the other thing that I always say when someone asks what I see for people that have succeeded and people that haven't, it's people that project out their cash flow, not just what they think their yield would be, will be or their sales. It's what's their cash flow? Because you have to think about that after tax in this in this crazy space. Yeah, that's a good one. Like, yeah, it's like sometimes we're just like, oh, this how much I'm going to make. But like, what does it really mean that cash flow management, having enough cash to like buy new inputs, pay your payroll, all those kinds of things. So like we're talking about the future of. Cannabis, what's your take on 280 E? Do you think we're gonna see something this year, next year? I know it's like they probably asked that question your entire career. I know. Well, it's, it's confusing. If we had a crystal ball, we would say probably sometime next year. The big question is whether it would be just for medical would be rescheduled or if it's still recreational, what that would mean for company setup, for company sales. So it's something we're watching. We're very heavily. Involved, the AICPA is an organization of Cpas that's doing a lot of support and polling and what not to go to the IRS. So we're pretty actively involved, but just be ready. Yeah, yeah, exactly. So look, let's assume that we get this abatement of 280 E Do you think that there are a large number of financial institutions that now that they can, you know, act freely are going to come in? And do you think that might add to revitalizing a displacement office? So there's a couple of pieces of this. And the 280 E depending upon how it's rescheduled may or may not result in safe or safer banking. So there's a couple of things at play. So we really need to make sure that the banks understand your financials. They want to look at your cash flow still. They want to make sure you're your fundamentals are strong just like they would in any other industry. So we say be ready for that just like you would any time to going into a bank depending upon what this rescheduling or descheduling. Safer banking looks like it could really open it up for, for potential debt investments, even things like working lines of credit, which other industries have to support their inventory and cannabis doesn't have it. So we're hopeful. Thank you for saying that. I mean, I know there's so many providers out there, especially where I'm from in California that would just love a small SBA loan. It's like normally when you're running a business, if you're bringing in $100,000 a month, most banks are like, please let me extend you credit and yet we don't have that and. Credit is not just a way to you, it's good for that cash flow, right? Sometimes, you know, it's a dry season or something went wrong and you need a little bridge to the next thing. We all have credit cards. You know how that is so well they look. Thank you so much for joining me. Tell them where we can find you. So the parent company is a F CPA's. We can be reached at www.afcpa.com and can count is our operational subsidiary. That's it can count CANCOUN t. com. I love that. Can count. So you heard it right here from Janice. Like, can't count on us. Hey, Donna. I love that. Yeah. Keep your numbers straight, OK? Demo cripple, highly capitalized. Coming to you from MJ Unpacked in Missouri instead of speaking.
Too many brilliant ideas get left on the cutting room floor.
What’s worse: 90% of VC money currently goes to all-male teams. (Dealroom)
That ends now.
As an advisory board member, I'm using my platform to shine a light on overlooked entrepreneurs.
Ready to see the future?
This is the start of my series of 6 fantastic founders, who unsurprisingly happen to be female!
Check out: Thuria Wenbar, Founder & CEO - Evaro, a medical doctor who is changing digital health.
Tag a healthtech founder who deserves more visibility here too!
Come join your favourite webinar host this Thursday @ 10am as I sit down with one of my favourite founders, Fred Soneya from Haatch. We'll be discussing Haatch's SEIS Fund, which is currently live on Crowdcube:
- This opportunity gives investors access to a portfolio of early stage B2B SaaS companies
- You can invest from £2,000 (5x lower than the usual £10,000 entry point for this type of opportunity)
- And you will be investing in 9 - 15 EIS eligible investments, all carefully sourced and managed by Haatch's team (who have >$200M in successful exits)
Fred and I will discuss the opportunity in more detail, why they have teamed up with Crowdcube again, and a look towards what they've got planned next. It's also your chance to ask him anything you'd like to know.
Link in comments... DON'T MISS IT!
- -
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more: bit.ly/3u8ZTH0
"Early on in your life, you can’t just optimize for money or salary. You have to do things that mean something to you and can have an impact", says Beerud Sheth in this episode of Founder Diaries. Wish everyone in their 20's understood the value of this. Thanks Ranjani Raghavan for chronicling Gupshup's remarkable journey in an interview packed with insights.
Did you know that VCs spend less than a minute reviewing a pitch deck? Make every second count!
At Blazin' Babes, we understand the pressure of making a strong first impression. That’s why we offer access to a network of experts and preferred partners to help you craft a pitch deck that stands out.
Don’t miss your chance to level up your pitch! Sign up now to join our waitlist at blazinbabes.com and get the support you need to impress investors.
#FemTech#HealthTech#FemaleFounders#VentureCapital#StartupSupport#PitchDeckPerfection
Want to know how to build a standout company culture and build a viral product?
In this week’s episode of Money Moves, Tara Viswanathan, co-founder of Rupa Health, shares her startup journey, revealing how costumes, humor, and spontaneity shaped Rupa’s brand.
Tara dives into her unconventional approach to fundraising, from pre-seed to Series A, the power of personal branding in recruiting top talent, and the tough decision to sell Rupa Health.
Packed with actionable insights, this episode is a must-listen for anyone navigating the startup world.
Ready for something not election-related?
Tara Viswanathan recently sold Rupa Health, after raising a seed round from First Round Capital, a Series A from Bessemer Venture Partners, and bringing one of the best VCs of all time, Fred Wilson, onto her cap table.
What was it about Tara and Rupa that brought these investors to the table?
Why did she sell the company?
Was it a good exit?
All of that and more (like her counterintuitive advice on priced rounds vs. SAFEs) in this week’s episode of Money Moves (full episode links in the comments)
Trailblazer for Women •
Venture Capital Fund Manager | CEO | Board Director | Professional Speaker | TedX | Best Selling Author | Model | Fashion Designer | Policy Change Maker | Future Film Director
I can’t tell you how many founders I’ve met over the years who tell me that they have paid anywhere from $3k to $5k for someone to create their pitch deck!
It’s insane! 😳
I’m big on pitch decks.
As a VC and a former 30 year operator where I managed a global cross functional team and a P&L, I am BIG on process and using time wisely.
To be a successful VC, you need to see the most deals per year.
Our firm sees 1000 startup deals per year with a 1.2% conversion rate. That means for us, we will see 1000 startups in one year and only invest in about 12 within that year.
I train my team to spend 30 minutes looking at a pitch deck + scoring the pitch deck + writing up a 1 page summary of the startup.
What does that tell you about how much time is dedicated to reviewing a pitch deck and making sure you have the RIGHT information so it stands out and so the investor can notice what is most important?
What of that pitch deck doesn’t have the key points that VCs look for?
Blazin' Babes provides pitch deck, workshops, pitch deck examples and coaches you on how to do a 1 min pitch, a 10 min pitch, 15 min pitch, an elevator pitch and even a grocery line or gas station line pitch, because you never know who you will meet and what pitch you’ll need.
Join our community of female founded by getting on our waitlist using the link below and gain access to not only pitch deck workshops and examples, but additional startup programming and community building for female founders.
Go to the link below and sign up!
https://lnkd.in/gA7BMQud
Did you know that VCs spend less than a minute reviewing a pitch deck? Make every second count!
At Blazin' Babes, we understand the pressure of making a strong first impression. That’s why we offer access to a network of experts and preferred partners to help you craft a pitch deck that stands out.
Don’t miss your chance to level up your pitch! Sign up now to join our waitlist at blazinbabes.com and get the support you need to impress investors.
#FemTech#HealthTech#FemaleFounders#VentureCapital#StartupSupport#PitchDeckPerfection
This week in the newsletter: what can the Milltown Partners analysis of Midas List data tell us?
Many things. Some quick hits below.
Most interesting stat from the 2023 analysis:
👉 90%: Of the 2023 Midas List investors, only 10% don’t have a presence on Linkedin. I’m super curious about that. Who are you? Show yourselves! I want to know what your marketing strategy is. Not surprisingly, new entrants to the Midas List were more likely to be active on Linkedin than those they replaced.
Most interesting stat from the 2024 analysis:
👉 100%: The number of Brink list VCs posting at least monthly on Linkedin.
To read more and check out the full reports, subscribe at the link in the comments. Plus:
💅 This week I'm following: Alyssa Greenfield.
Alyssa is the Founder + CEO of Owl Street Content, where she ghostwrites for VCs and startups. In a serendipitous turn of events, she’s worked with Midas list investors. Give her a follow!
#vcmarketing#thevcmarketer#midaslist
Excited to share that I’ve completed the ALX Ventures Founder Academy 6-week deep dive!
As someone who partners with top-tier founders to streamline their businesses, this program was a game-changer. From insightful strategies to actionable frameworks, it’s all about leveling up to bring even more value to the work I do.
Here’s to growth, innovation, and bold steps forward!
P.S. If you’re a founder looking to elevate your business, I’d be happy to assist! 😉
#EntrepreneurshipJourney#ALXFounders#BusinessOptimization#GratefulHeart#GrowthMindset#DoingHardThings
As a member and Chair of the jury at MEDKAP Investor Association I have analyzed dozens of start-ups over the last year, here are my three recommendations for start-up founders to build a sustainable business:
🚀 Product: “Tech for Tech’s Sake” is a dead end
Very often founders fall in love with high tech solutions for simple problems. The result is an “overengineered” and therefore expensive product nobody wants to buy.
➡️ Align your tech approach with the customer use case
📈 Business Model: “If your only tool is a hammer, every problem looks like a nail” does not work
To be attractive for investors, the vast majority of founders is aiming for a subscription/recurring revenue business. Unfortunately this does not make sense in many cases.
➡️ Balance your commercial requirements with the value creation of your product and your customers’ willingness to pay in your business model.
💰 Go to Market: Answer the #1 neglected question “Who is going to write the check?”
Who are the buyers and how do you reach them, why would they buy your product, what value does your product create, how long is your sales cycle, how many paying customer do you need for break even and how long does it take?
➡️ Really understand your target market
Vincent IrrlingDr. Kay BrunnerFrank Desiere - PhD MBAHeinrich ZimmermannLuisa WasilewskiAndreas R. MüllerJasmin Saric, PhDMatthias Herrmann Matthias Schwarz Bernhard Hoehne, MD, MScPatrick PerlerNils BeringMarko Kuisma
The essence of bootstrapping and community support in WaxNax's growth story showcases the invaluable role of belief—in the product, in the mission, and in the team. From family and friends rounds to contemplating the next financial steps, it's a narrative of strategic growth and heartfelt dedication. 💼🌿
In your journey, how important has community support been in achieving your goals?
Watch the unfolding story of WaxNax and the broader impact on the cannabis industry on our YouTube channel here: https://lnkd.in/gNxSzc7s#Bootstrapping#CommunitySupport#StrategicGrowth#StartupFinance#TeamBelief#CannabisInnovation#EntrepreneurialJourney#IndustryImpact
CEO, CannCount, Partner, AAFCPAs
2moGreat to be here!