A Cautionary Tale of the Ever Changing Cannabis Industry

Balance through quality leadership

This isn’t to say the corporation itself is inherently bad. The trick is to find the balance between its organizational value and the passion that drove the early visionaries.

In my experience, the most effective strategy to achieve this balance is through quality leadership. Many executives who jumped into the cannabis industry were looking to replicate prior successes they’d had in other industries. Most were not equipped to deal with the ever-changing landscape and unpredictability of the new legal cannabis industry.

The default solution was to throw money around like it was free. Excess loomed large, coffers dried up, turnover was rampant and companies began dropping like flies. The rare few companies who did see the light and kept things tight and focused were the ones who didn’t have to go through the dreaded corporate restructuring.

This can be the soulless part of the realities of business life, but there are ways to do it with empathy or avoid it altogether in the first place.