Real Cannabis Entrepreneur Conference 2021
Kym B - TRIBE TOKES They create luxury CBD vapes, skincare and wellness products for the next generation cannabis consumer, who respects plant science, consumes mindfully and expects top quality products from trusted brands.
Build a business, not a brand. Be open. Looking beyond the brand, that will save you a billion dollars.
1. Get organized. Set up your laptop and get a business email STAT.
2. Deﬁne how to make money. What is your core product or service? You have to have something that is the main part of your business.
3. Figure out how much it will cost to provide that service or product. 4- Make your price list.
4. Sell immediately to friends and family. You need the feedback. That will save you time, money and e"ort.
5. Develop a selling platform. Website, IG, Etsy, etc. 7- Logo, LLC, Insurance, Bank account.
6. Now develop your marketing plan. Add cost of marketing into the price of the product.
Product development - Vapes
Their vapes have only 2 ingredients: full spectrum CBD distillate and natural plant terpenes. They will never use MCT, PG, PEG, VG or Vitamin E Acetate.
They test our vapes with an independent third party laboratory for potency, heavy metals, residual solvents, pesticides, mycotoxins and microbials and put a QR code on every box.
You have to see what the market is looking for. You have to see what is in the market. You have to take the time to see who your competitors are and what their advantages and disadvantages are. Order products that are similar to yours and test them.
You need to have a hero product and be an expert about that product.
He started buying weed and then tra c it over the US. He became very popular. They did that for 2 years and then in 2010 he attracted the attention of the federal government and he was charged with the conspiracy to distribute 2000 pounds of marijuana through the US. He was in prison for 3 years and then came out of jail but he was on probation. He got a job with Nike and when the probation was over, he went back to cannabis. He wanted to have his own Growth and sell his own weed. He failed the ﬁrst year trying to grow cannabis. After the second year, he got better and he was ﬁnally able to make some money and sell his products.
Once you ﬁnd something that is really good, you can blow that up. You don't need 80 di"erent strains. You only need one good one. And if you have one good one, your customers will come back for that.
He has a social media and marketing team. They are the ones who handle marketing strategies. They work together because he wants to make sure that his followers and his audience knows that they are authentic.
Your product needs consistency and it will sell itself.
Brian Fleming - Springhill Financial Solutions - brian@springhillﬁnancial.com
Business credits it a brilliant solution for any business. You can get initial vendor credit immediately. You can get store credit at places like Best Buy, Walmart, Amazon and Dell within 90 days or fewer. Plus you can get cash credit of $5000 - $10000 within 4 months or fewer.
Your business must be legitimate to the Lender. They don't know how serious you are about it.
Building business legitimacy
Start with your phone number. An 0800 toll-free area codes number spells legitimacy to a lender. You can do this with a virtual phone number. You can have this virtual number ring your landline or cell phone.
A fax number is also a sign of legitimacy. Plus you will often need one for a credit application. Do not give a personal cell phone or residential phone as your business phone number or fax number. A personal phone number may get you ﬂagged as an un-established entity.
A 411 listing also spells legitimacy. Your phone number must have a listing with 411 for most credit issues and lenders to approve you. Check your record at 411.com to determine if your small business has a listing, and that your information is accurate.
A professional business website will also help. A lender will get a lot of information on your startup from online. It's better if they get it from your website than elsewhere.
Your business email address. Never use a feebie provider like Yahoo or Hotmail. When you buy hosting, get at least a few business email addresses. The addresses will then match your domain. admin@yoursite or webmaster@yoursite or president@yoursite are all great, or use your name or a combination like a ﬁrst initial and your surname, like jsmith@yoursite.
Get an EIN (Tax ID number) from the IRS. Decide on a business entity - sole proprietor is okay to start but you will probably want to change this to an LLC or a partnership.
Having an EIN means you can start the business credit process.
Credit proﬁle and D-U-N-S
Number from DUN & Bradstreet (100% free)
After getting your EIN, you have to set up your DUN & Bradstreet business credit proﬁle. A D-U-N-S number is D&B's identiﬁer for your company. That way, they can tell Joe's Diner in Seattle from Joe's Diner in Tallahassee. Also, set up the business credit proﬁles with Experian and Equifax.
A good consumer credit score goes a long way.
You will probably tap into your consumer credit at the start.
Make sure you are paying your bills on time, and as fully as possible every time. Keep bankruptcies and other negatives o" your report.
Good consumer credit will open up more business credit opportunities.
Unsecured business ﬁnancing
No collateral and the lender assumes as much larger risk.
None of the borrower's major assets can be seized if they default.
Because there is no collateral supplied, and they don't look or care about your cash ﬂow either, all that matters is your personal credit. With a 650 credit score, you'll only get personal cards, with a 680 credit score, you'll get both.
The company you hire works to get you 5-8 cards, usually, of the best and highest limit cards you can get. They apply for them all at once, so they can get you 5 to 8 cards where if you applied on your own you'd only get 1-2 at the most.
They can usually get you up to 5-10 times the amount of your current highest limit account.
Multiple cards can create competition, meaning you can get your limits raised typically within 6 months or fewer from initial approval.
You can get $25.000 - $150.000 in 3 weeks or fewer. You can get 0% rates for 6-18 months. Manage it responsibly and you can have excellent business credit in a mere 60 days.
Tradelines with report to the Credit Reporting Agencies
You want ﬁve tradelines in order to move onto the next step.
Here are three to get started: Uline, Quill O ce Secured, Wells Fargo Business Secured Credit Card.