Recently, we got some outstanding news. Our first client, David, sold his business — Advanced Grow Labs, a licensed medical cannabis cultivation and processing operation — to Green Thumb Industries for $80 million. We called him up to congratulate him and asked, “Why now?" reminding him that "the show’s just getting started!” He said, “Five years ago, you taught me to read the room. The stigma is fading fast, we’ve exceeded our business objectives in all directions, and there are other things I want to do.”
Reading the room is a golden skill, and it’s even more important in an emerging industry like cannabis. For David, reading the room meant knowing that the industry had matured to the point where others were well-positioned to carry on the work that he started. For cannabis entrepreneurs and investors just beginning to pay attention to cannabis, it means understanding where, when and how to jump in.
Reading the room in the cannabis industry is a big part of what we do every day to secure licenses for clients, while providing guidance to their businesses. But every state is a different room to read.
Read more at greenentrepreneur.com