Business owners examine countless metrics when trying to determine the health and success of their plant-touching cannabis companies, from average yield and yearly profit to number of transactions and daily customer counts.
But conversations and observation can be just as telling as data on a spreadsheet.
That was a message delivered during multiple sessions at Cannabis Conference 2022.
Standing on the dispensary floor and listening to customers and budtenders talk can provide invaluable insights, noted panelists in a discussion about how to launch a dispensary.
Determining a company’s worth for a valuation goes beyond numbers as well. In another session covering how to appraise businesses, speakers agreed a strong brand, employees’ talent and team dynamics are all important factors.
The same can be said of an event.
As we reflect on Cannabis Business Times’ Cannabis Conference, the team is analyzing metrics but also collecting feedback from attendees, speakers, board members and exhibitors and reviewing what we heard in hallways, on stages and the show floor at Paris Las Vegas in August. (Read highlights and key takeaways from the leading educational event.)
We heard that speakers came prepared and were insightful. Topics within the educational program addressed key challenges businesses face daily. Exhibitors provided relevant solutions. There were multiple opportunities to network.
But the true magic of the event came from the people who were there and the energy they brought.
People talked openly and honestly. Everyone knows the past few months have been incredibly challenging in the cannabis industry as inflation, oversupply and competition continue to put pressure on businesses. Attendees noted that especially when things are tough, it’s more important than ever to gather to gain new perspectives—to learn and grow, but also to commiserate.
Cannabis Conference is a place where speakers share their personal phone numbers. Where hugs are just as frequent as handshakes. Where icons like Tommy Chong, who you can read more about in Digital Editor Eric Sandy’s compelling cover story, may just show up. Where leaders who run companies with one location not only share stages and strategies with executives from multistate operators, but also discover many of their problems are the same and they are not alone.
As we sift through the numbers, we know that what makes CBT’s conference successful is the people who are there. No matter the conditions, Cannabis Conference will be there as a place to find common ground and the lessons, solutions and connections needed to move forward. We hope to see you there again or get an opportunity to meet you in 2023.
