Dive into Kaya Cast each week for candid conversations with the visionaries shaping the cannabis landscape. We sit down with industry trailblazers to uncover their hard-earned insights and incredible experiences—arming retail entrepreneurs with the know-how and motivation to build a cannabis business they'll love.
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Dive into Kaya Cast each week for candid conversations with the visionaries shaping the cannabis landscape. We sit down with industry trailblazers to uncover their hard-earned insights and incredible experiences—arming retail entrepreneurs with the know-how and motivation to build a cannabis business they'll love.
From Struggle to Success: Lessons for Growing Dispensaries | Part 2
Kaya Cast
22 minutes
2 months ago
From Struggle to Success: Lessons for Growing Dispensaries | Part 2
On this episode of Kaya Cast, Tommy Truong continues the conversation with Ernest Toney, founder of BIPOCann, about the critical topic of raising capital for cannabis businesses. Ernest shares practical insights on crafting concise and compelling pitch decks that clearly articulate your market opportunity, competitive edge, team, financial projections, and use of funds—essential elements that resonate with investors. They dive into the importance of framing your business in a way that de-risks the investment and reflects genuine market research. Ernest also discusses the persistence needed during fundraising, often requiring dozens of investor meetings, and how this process sharpens your business understanding. Finally, Ernest touches on the importance of entrepreneurial mindset, continuous learning, and mental resilience in navigating the challenges of growing a cannabis company. Whether you’re seeking funding or simply refining your business strategy, this episode offers invaluable guidance for social equity applicants, startups, and seasoned operators alike. Connect with Ernest at BIPOCann.com or on LinkedIn to learn more and jumpstart your cannabis business journey.
Find out more about BIPOCann at: https://bipocann.com/ https://www.linkedin.com/in/ernestltoney/ https://www.linkedin.com/company/bipocann/
00:00 Introduction and Recap of Part One 00:54 The Science of Raising Money 01:37 Creating an Effective Pitch Deck 07:52 Understanding Your Market and Competition 13:30 The Reality of Raising Capital 17:17 Final Thoughts and Advice for Entrepreneurs 20:50 Conclusion and Contact Information
Dive into Kaya Cast each week for candid conversations with the visionaries shaping the cannabis landscape. We sit down with industry trailblazers to uncover their hard-earned insights and incredible experiences—arming retail entrepreneurs with the know-how and motivation to build a cannabis business they'll love.
