Thread by @orenmeetsworld

We met with a potential acquisition last week. They’re in an office park of cannabis companies, and are the most successful by 3x. No investment, no killer feature.

I asked the management team, what separates you from all these other businesses? The answers are below 🧵

Hours. They run 8-10, no matter what. An employee calls out, manager is in, manager out, owner is in.

Most of the competition is 10-10. The ones that are on the same hours close early or open late when they have staff issues.

2hrs a day more, compounded over years, matters.

Equity. Every employee has equity at their year mark (also the case in our business).

The barrier to getting recruited away, which is rampant in cannabis, is much higher when the team has ownership and sees a path to greater value.

Business above appearance. I’ve toured multiple biz where founders have $100k cars, not from their prior success— from their salary or the company paying.

Money reinvested in the business, especially with returns as high as cannabis, is sky high above posturing!

Process. The logs, the checklists, the playbooks, all created, refined, followed and filled out, every day, no exception. Sounds like a no brainer, you’d be surprised.

Actual belief in the power of cannabis, a diverse workforce, and giving people from untraditional backgrounds (this goes a number of directions) a shot. You can always tell a potential strong team when you have a leadership group that you’d never expect to see all in one place

These aren’t the rules for every business to be successful, but it resonated with me— hope you found it valuable. If we end up doing the deal maybe one day I’ll share the whole story ;). Follow along until then: @orenmeetsworld