Interested in starting your own entrepreneurial journey in business development but unsure what to expect? Then read up on our interview with Sara Gullickson, Founder and CEO of The Cannabis Business Advisors, located in Phoenix, AZ, USA.

What's your business, and who are your customers?

The Cannabis Business Advisors is a national consulting firm offering strategic business guidance for both cannabis license applicants and licensed operators throughout all stages of growth. We offer a comprehensive suite of services, including application and licensing preparation, operational analysis, merger and acquisition support, policy and procedures, exit strategy guidance, and business development planning. We also launched a digital platform with educational course content, HowtoOpenaDispensary.com. Subscribers can learn how to secure a cannabis license, launch an operation, and for those who are new to the market, what entry points exist in the industry through an online career quiz.

Our customers are mainly individuals looking to break into the cannabis industry, whether it is through ancillary B2B services or on the B2C level through dispensary operations. Most of our HowtoOpenaDispensary.com clients tend to be in markets with legal programs, while some customers just want to learn more about the industry. There are a variety of business opportunities to evaluate in this market, and our firm gives people the tools, guidance, and information they need to break into the cannabis space.

Tell us about yourself

I am an entrepreneur at heart and am motivated by everything that goes into building a successful company that has a scalable business model. In the cannabis space, I’ve had to adapt and reinvent myself several times over, and though it isn’t easy, I enjoy the challenge.

My first venture was a cannabis consulting firm. I led the company as CEO over the course of eight years. I grew the company’s portfolio to include multiple brands and a tech platform with cannabis business and licensing templates. In 2018, the firm and its assets were acquired by a publicly traded cannabis company.

After stepping away from the industry for a few years, I established The Cannabis Business Advisors (CB Advisors) in 2020. CB Advisors is a national consulting firm headquartered in Phoenix. In my role as CEO, I guide stakeholders on corporate structure, financing, and operations to better position their companies for growth and potential exit. Beyond my ancillary cannabis business ventures, I am also a license holder in multiple states, with six operations being minority or women-owned cannabis entities.

What's your biggest accomplishment as a business owner?

In 2018, I decided to apply for a cannabis license in Nevada. I put the sweat equity into it and quickly realized it was a bigger learning curve than I expected. Even though I had helped people apply and win licenses, doing it personally and building that team carried a different weight. It’s always been my personal business model and dream to take ownership of some licenses. They offer the opportunity to grow an operation, lease it, or sell it.

Having these additional license revenue streams has allowed me to build other businesses throughout my career and continue my entrepreneurial journey. The Nevada experience was important, not only because I succeeded in getting that first license but also because I was able to sell it quickly. It further solidified the importance of not getting too attached to the project because when the price is right, you need to be able to let go.

What's one of the hardest things that comes with being a business owner?

There is no shortcut to success. You’ve got to put in the time and wear multiple hats when running a business. I’ve worked really hard throughout my career, and it continues to pay off.

What are the top tips you'd give to anyone looking to start, run and grow a business today?

  1. Being successful in business is all about adapting and adjusting. You need to be able to monitor and evaluate trends in your industry and utilize that knowledge to make the best possible decisions for the long-term health of your company.
  2. Build strong partnerships and skilled teams. There is no way you are going to be good at everything, so invest in human capital early on. Hiring someone who understands an industry or a situation better than you is a practice everyone should put in place. This will allow you to focus on leading and growing your business.
  3. Establish efficient systems and processes early on. SOPs help make it easier for everyone on a team to know their roles, responsibilities, and how to execute successfully.

Where can people find you and your business?

Website: https://thecannabisbusinessadvisors.com/
Facebook: https://www.facebook.com/TheCBAdvisors/
Instagram: https://www.instagram.com/thecbadvisors/
Twitter: https://twitter.com/thecbadvisors
LinkedIn: https://www.linkedin.com/company/thecbadvisors/

If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.

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