CannaBIZ Collects’ Post

In 2017 I was pitching cannabis companies to collect their money through the first cannabis-focused collection agency, CannaBIZ Collects. The majority of objections: -I don't need help collecting (odd since many of these debts were 6+ months old) -I can't "afford" to pay a fee upon successful recovery (even though at that point they received $0 from the sale) -My reputation would be at risk to use a collection agency (my favorite. how somehow you are the bad one when you have been robbed..) Today, our firm represents over 1,000 clients who understand the importance of leveraging a collecting agency to work their no-pay accounts on a no collect, no fee basis. And save their time to foster positive relationships. The brands that tried to "collect themselves" are usually the ones left with nothing, when their debtors went out of business. Now, in 2024, we are pitching cannabis companies to help prevent these collection issues via the first cannabis credit reporting platform Cannabiz Credit Association. The majority of objections: -I know who pays and who doesn't (although most of these are actively sending claims to collections) -I can't afford $100-200/month for insights on credit risk. I'd rather take the risk and then see if I get burned. (not kidding, we hear this daily) -I don't understand how to make credit decisions, so we just extend net 30 and pray we survive (it hurts...) The cannabis industry is maturing fast. Those who invest in process and tools to prevent risk, will not only survive, but maintain an edge against competition by having stronger cash flow to invest in their business. Those that will try to do it all themselves, without any knowledge of how to do so, are the ones we are seeing closing up shop. Moral of the story. Be humble. Invest in your business. And... Submit your past due AR to www.cannabizcollects.com. And join the CCA today: www.cannabizcredit.com.