In this enlightening episode of the Kaya Cast Podcast, we dive deep into the strategies and practices of successful cannabis businesses with Mike Wilson, CEO of Temeka Group and GreenSpacePro. Mike believes that success in the cannabis industry doesn't come easy. It relies on hard work, an impeccable work ethic, and business discretion.

One of the key challenges that Mike identifies is managing multi-location businesses before a system comes into place, sharing that many businesses are reactionary rather than proactive. He discusses the critical importance of implementing best practices and reducing the typical chaos that ensues when audits are imminent.

In a sector where staff turnover can lead to valuable insights walking out of the door, Mike stresses the importance of safeguarding institutional knowledge within the business. His advice? Move away from static spreadsheets on individual drives and laptops, and move all information into a central system that offers control and consistency.

As New York is a hotbed of growth and opportunity for the cannabis industry, Mike provides invaluable advice for those looking to open a dispensary there. The key to success, according to Mike, lies in understanding your budget realistically, reverse engineering performance expectations, and doing thorough homework before making any decisions.

Exploring promising areas for growth in cannabis, Mike mentions the possible impacts of acts like the Safe Banking Act and descheduling, which could potentially provide access to much-needed capital. He also expresses excitement about developments in Minnesota and the hope for sound regulatory frameworks that support a successful program.

Finally, Mike shares his number one tip for dispensaries looking to launch, grow or scale - having a clear line of sight and a repeatable system that is not dependent on personnel. As always, accountability is key.

Mike Wilson is the founder and CEO of GreenSpacePro, a cannabis business platform designed to bring together business professionals, entrepreneurs, and investors in the cannabis industry. Mike is an experienced entrepreneur, having started and sold several businesses in the past, as well as developed a successful real estate portfolio as Founder and President of Temeka Group. He is an expert in the business of cannabis, and is passionate about helping the industry grow.

Find out more about GreenSpacePro at:

• https://www.greenspacepro.com/
• https://www.temekagroup.com/
• https://www.linkedin.com/in/mike-wilson-1107a960/
• https://www.linkedin.com/company/greenspacepro/
• https://www.youtube.com/channel/UCIwjSuwyReuH7kzWH1KuLsg
• https://www.instagram.com/greenspace_pro/
• https://twitter.com/GreenSpacePro1
• https://www.facebook.com/GreenSpacePro