Under the Microscope with Jenny

Ep. 9: Security Strategies | Protecting Your Cannabis Business from Application to Operation

In this episode of 'Under the Microscope,' host Jenny Germano dives into the critical security strategies for cannabis businesses with guest Tony Gallo, a seasoned expert from Sapphire Risk Advisory Group. Tony shares his extensive experience in the cannabis industry, highlighting the importance of robust security measures during both the licensing and operational phases. Key discussion points include the necessity of a comprehensive security plan for license approval, the pitfalls of underestimating security requirements, the significance of employee training to prevent internal theft, and the benefits of ongoing security assessments. The episode emphasizes the importance of honesty, compliance, and thorough vetting of security partners to ensure the long-term success and safety of cannabis operations.
 
📢 Visit Jenny's Website: www.icsconsultingservice.com
 
📢 Our Guest: Tony Gallo from Sapphire Risk Advisory Group
 
Timestamps
 
00:00 Introduction and Host Background
00:49 Guest Introduction
02:34 Importance of Security in Cannabis Licensing
07:37 Common Mistakes in Security Planning
14:40 The Pitfalls of Using Gun Safes
19:02 Vetting Your Security Company
23:17 Common Mistakes Applicants Make
24:56 The Impact of Lottery-Based Licensing
28:08 Designing an Effective Security Plan
29:32 Implementing Security Plans Post-License
31:30 Preventing Employee Theft in Cannabis Operations
37:21 Maintaining Security and Compliance
41:06 Final Thoughts & Wrap Up
 

Ep. 8: Breaking Through the Challenges of Banking for Cannabis Regulated Businesses

In this episode of 'Under the Microscope,' host Jenny Germano discusses the nuances of banking for Cannabis Regulated Businesses (CRBs) with Erin O'Donnell and Michael Beird from the Association for Cannabis Banking. This episode explores the history, challenges, and future of cannabis banking. Learn about federal restrictions, compliance requirements, and the tiered risk system designed to manage these CRB’s. Discover practical advice for cannabis operators and hear why education and compliance are crucial for bridging the gap between bankers and cannabis professionals. Don’t miss this brass tacks discussion packed with expert knowledge and industry specific guidance.
 
👉 Visit Jenny's website: https://www.icsconsultingservice.com
 
📢 Our Guest Info: Founders Erin O'Donnell and Michael Beird 
Association for Cannabis Banking
 
✨New Book: Cannabis Banking: Legal Frameworks and Practical Solutions for Cultivating Compliance
 
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Timestamps:
00:00 Introduction and Host Background00:43 Guest Introductions and Backgrounds03:51 Challenges in Cannabis Banking04:25 Federal Restrictions and Their Impact07:06 Current Financial Institutions Serving Cannabis11:36 Banking Regulations and Compliance15:15 Understanding FinCEN Guidelines24:20 Risk Levels in Cannabis Banking27:36 Understanding Revenue Streams in Cannabis Banking27:56 Compliance Risks for Banks in Cannabis Industry32:11 Suspicious Activity Reports (SARs) Explained36:35 Challenges and Solutions in Cannabis Banking38:52 CRB Fees and Compliance Costs in Cannabis Banking43:59 Tips for Cannabis Operators Seeking Banking Services49:12 Educational Resources and Wrap Up
 

Ep. 7: An Inside Look at Cannabis Policy | What Operators Need to Know

🎙In this episode of Under the Microscope, host Jenny Germano discusses cannabis policy and operations with guest Jordan Wellington from Strategies 64. The conversation delves into Jordan's extensive background in cannabis legislation and regulation. He shares his journey from New Jersey to Colorado, where he played a pivotal role in implementing Amendment 64. Jordan provides insights into the legislative process, misconceptions about cannabis regulations, the importance of stakeholder engagement and the nuances of navigating policy changes. The episode also addresses challenges and frustrations faced by operators, emphasizing the importance of professional engagement with regulators. Tune in to learn about effective strategies for navigating cannabis policy and fostering constructive dialogue in the industry.
 
Check out my website: ICS Consulting
Our Guest: Jordan Wellington, from Strategies 64
 
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Time Stamps
00:00 Episode Introduction and Host Background
00:37 Guest Introduction: Jordan Wellington
00:56 Jordan's Journey into Cannabis Policy
01:49 Implementing Amendment 64 in Colorado
04:51 Regulating Adult Use Marijuana
09:31 Understanding Cannabis Policy
15:06 Misconceptions About Cannabis Policy
21:53 Regulations being too Restrictive aka The Concentrate Flyer
28:30 Customer Frustrations and Information Distribution
29:17 Policy Changes and Labeling Challenges
34:01 Overregulation in Emerging Markets
37:36 Colorado's Regulatory Evolution and Lessons Learned
46:56 Engaging with Regulators Effectively
54:29 Wrap Up
 

Ep. 6: Licensing and Launching Cannabis Cultivation Facilities in Emerging Markets

In this episode of 'Under the Microscope,' host Jenny Germano dives into the complexities of licensing and launching cannabis cultivation facilities in emerging markets. Joined by industry veterans Stuart Ware and Matt Best from Joywave Consulting, share their extensive backgrounds in the cannabis industry and offer an integral approach into common licensing challenges, facility planning, compliance, budgeting, and the latest improvements in cultivation technology. Core topics include the obtaining licenses across different states, effective strategies for planning and designing cultivation facilities, and the critical components of compliance, scalability, and budgeting. The conversation also highlights the significant advancements in cultivation equipment, the importance of a robust market strategy, and the top mistakes new operators often make. This detailed and perceptive episode is jam packed with valuable guidance for anyone looking to enter into the emerging cannabis market.
 
🌱 Our Guests: www.joywaveconsulting.com (Matt Best & Stuart Ware)
 
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Time Stamps
00:00 Welcome and Introduction00:41 Guest Introductions and Backgrounds03:31 Licensing for Cannabis Cultivation Operations08:10 Types of Cultivation Licenses15:01 Planning and Designing Cultivation Facilities17:07 Balancing Compliance and Budget Considerations20:27 Having a Phased Approach to Cultivation26:32 Financing Variables for Cannabis Cultivation30:34 Understanding the Costs of Operating Cultivation Facilities32:34 Indoor vs. Outdoor Cultivation: Key Differences34:26 Navigating Construction and Compliance38:06 Advancements in Cultivation Equipment46:09 The Importance of Marketing Strategy51:27 Top Mistakes in the Cannabis Industry56:35 Final Thoughts & Wrap Up
 
#cannabisdispensary #cannabisoperations #cannabisindustry #cannabistalk101 #cannabiseducation #cannabis #cannabiscompliance #openacannabisbusiness #cannabisoperators #cannabisdaily #marijuananews #cannabisbusiness #podcast #cannabispodcast #cannabiscultivation #cultivation #cannabiseducation #cannabisgrowers 
 
 

Ep. 5: Building a Strong Team in the Cannabis Industry | Overcoming the Common Challenges

Join host Jenny Germano on 'Under the Microscope' as she delves into the intricacies of building a successful team in the regulated cannabis market. Drawing from her extensive experience since 2009 in vertically integrated cannabis operations and a decade of consulting, Jenny discusses key factors behind the success and failures of cannabis businesses. Learn why effective business planning, cash flow management, market experience, leadership, operational management, adaptability, compliance, and marketing are crucial. Plus, discover invaluable steps and insights for assembling and managing a team that can navigate the dynamic landscape of the cannabis industry.
 
👉Check out my website: ICS Consulting
 
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Time Stamps
 
00:00 Introduction and Host Background
01:29 Diving into the Topic: Building a Team
02:54 Challenges in the Cannabis Industry
09:06 Importance of Compliance and Adaptability
13:59 Marketing and Branding Strategies
19:21 Hiring the Right Talent
24:02 Roles and Responsibilities in Cannabis Operations
29:48 Steps to Building a Successful Team
42:05 Final Thoughts and Wrap Up
 
#cannabisdispensary #cannabisoperations #cannabistalk101 #cannabiseducation #cannabis #cannabiscompliance #openacannabisbusiness #cannabisoperators #cannabisdaily  #marijuananews #cannabiscultivation 

Ep. 4: Cannabis Operator Series | Fireside Chat with Dan Koogler

In this episode of Under the Microscope, host Jenny Germano launches the Podcasts Cannabis Operator Series, and fireside chat with Dan Koogler from TS Labs. They discuss Dan's journey from the military to the cannabis industry, detailing his experiences with navigating cannabis operations and ownership. Dan shares insights into building a successful cannabis business in Denver, Colorado. Listen in and discover strategies to confront regulatory hurdles, facility construction challenges, the value of a committed work ethic, and adapting to market demands. The conversation highlights the importance of consumer data, hiring the right team, and maintaining high product quality. Practical advice for new operators includes understanding local regulations, having sufficient capital, and fostering relationships with regulatory bodies. The episode serves as an informative guide for current and aspiring cannabis operators, offering real-world examples and solutions to common industry challenges.
 
🎙 Our Guest Info: Dan Koogler from TS Labs
👉 Check out my website: ICS Consulting
 
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Time Stamps
00:00 Introduction and Host Background
00:48 Guest Introduction: Dan Koogler of TS Labs
01:00 Dan's Background and Journey into Cannabis
04:42 Challenges in Getting Operational
12:40 Product Line and Market Adaptation
16:01 Lessons Learned and Advice for New Operators
19:29 Building Relationships with Regulators
22:42 Consumer Feedback and Product Quality
23:37 Challenges in the Colorado Market
24:08 Regulatory Changes in Colorado's Cannabis Industry
25:46 Challenges Faced by Cannabis Businesses
27:59 Financial Struggles and Payment Issues in the Cannabis Market
32:22 Building a Dedicated Team
37:43 Veterans in the Cannabis Industry
40:38 Commitment and Quality in Cannabis Production
42:15 Innovations and Trends in Cannabis Products
45:15 Final Thoughts & Wrap Up
 

Ep. 3: Navigating the Complex Insurance Landscape for Cannabis Operators

In this episode of 'Under the Microscope', host Jenny Germano, a seasoned cannabis consultant, welcomes Alex Hearding from Red Wolf Risk to discuss the intricacies of insurance in the cannabis industry. With over a decade of experience in cannabis operations and insurance risk management, Alex provides an in-depth look at various insurance types, their importance, and the potential pitfalls operators face. The conversation covers general liability, property insurance, product liability, and more, emphasizing the critical need for understanding and incorporating safeguard endorsements into business operations. The episode aims to demystify the complex insurance landscape and offers practical advice for cannabis business operators on managing risks effectively.
For More information, reach out to the host at: ICS Consulting 
Guest Info: Alex Hearing, at Red Wolf Risk
 
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Time Stamps
00:00 Introduction and Host Background
00:32 Guest Introduction: Alex Herding
01:17 Alex's Journey in the Cannabis Industry
03:45 Challenges in Cannabis Insurance
04:44 Understanding Insurance Basics
07:43 Deep Dive into Types of Insurance for Cannabis Businesses
20:05 What is Risk Management in Cannabis
20:43 Understanding Risk in Business
21:33 The Four Ways to Manage the Risks
22:46 How Insurance Should Work vs. The Reality
24:07 The Importance of Safeguard Endorsements
29:34 Compliance vs. Risk Management
34:05 Roles in the Insurance Industry
39:49 Biggest Losses and Claims in the Cannabis Industry
42:50 Final Thoughts 

Ep. 2: How to Properly Structure a Regulated Cannabis Business | A Legal Roadmap

In this episode of 'Under the Microscope with Jenny,' host Jenny Germano welcomes Rachael Ardanuy Esq., a cannabis attorney with over a decade of experience in the industry. Together, they discuss how to properly structure a regulated cannabis business, covering key topics such as the importance of legal contracts, real estate considerations, intellectual property, and common mistakes to avoid. Rachael shares her journey into cannabis law, starting from her education at Florida State University (FSU) to establishing her firm, RZA Legal, in Colorado. This episode provides vital information for anyone looking to enter or currently operating in the regulated cannabis market.
 
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👉Guest Info: RZA Legal
 
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Time Stamps
00:00 Introduction and Guest Intro01:09 Jenny's Background03:45 Rachael's Journey into Cannabis Law06:43 Navigating Real Estate for Cannabis Businesses15:22 The Importance of Legal Guidance25:17 Forming a Cannabis Business27:17 Understanding Costs of Goods Sold (COGS) in Cannabis28:09 Importance of Streamlined Business Structures30:33 Forming a Cannabis Business: Legal Essentials35:26 Trademark Challenges in the Cannabis Industry46:12 Common Mistakes in Setting Up Cannabis Businesses55:08 Final Thoughts and Podcast Conclusion
 
 
 

Ep. 1: Getting Ready to Get Ready | Becoming an Operator in the Cannabis Industry

Ep. 1: Getting Ready to Get Ready | Becoming an Operator in the Cannabis Industry
In the premiere episode of Under the Microscope Podcast, host Jenny Germano explores the initial steps prospective cannabis operators need to take to launch a successful business. Drawing from over a decade of experience in the cannabis industry, Jenny discusses essential research, funding strategies, legal considerations, and the nuances of entering both mature and emerging markets. This episode is a must-listen for anyone looking to navigate the complexities of starting or expanding a cannabis business. Join us as we delve into the preparation needed to achieve success in this rapidly evolving market.
 
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Time Stamps
00:00 Welcome to Under the Microscope Podcast
01:13 Introduction to the Cannabis Industry
02:41 The Importance of Research
04:34 Navigating State Regulations
12:52 Funding and Capital Considerations
17:25 Common Challenges and Delays
25:21 Hiring the Right Legal Help
26:41 Vetting and Building Relationships
31:02 Understanding Market Types and Opportunities
35:10 Opportunities in Mature Markets
38:45 Conclusion and Next Steps