Quotations can connect you to wisdom from the past that you can apply to the present and the future. Many of the legal marijuana industry’s key players have already amassed vital wisdom during the industry’s fledgling years. At Marijuana Investor Summit, several of these key players shared their insight with attendees. Because their knowledge is a valuable resource for those looking to enter the industry, here are seven notable quotations captured at MJIS:
1. “Try not to give away—ever—more than 20 percent of your company in the first year before you go to Series A.” -Giadha DeCarcer, Founder and CEO, New Frontier Financials
2. “Companies that just raise money instead of gaining partnerships with their investors typically fail.” -Fred Gross, Founder of ManhattanCanna
3. “A brand is not a logo, a brand is an experience. A brand is the actual cumulative total of everything that your customers see, hear, believe and experience with regard to your product every day.” -Mike Hesser, CEO of Verabis
4. “We like the diversification from the investment bank. They just reached out to everybody and then were able to gather the folks who were interested and passionate for our product and bring them in.” -Daniel Yazbeck, CEO and Founder of CDx Inc.
5. “It has to feel right in the gut that the amount of money you’re going to raise is really going to take you to either profitability, or even cash flow, or at least an event where the valuation is going to step up and more people are going to put money in.” -John Clarke, CEO of Midtown Partners & Co
6. “If you look at the businesses that have succeeded the most over time, especially in dynamic environments, it’s because they had the ability to look at things from an innovative perspective.” -Spike Humer, author of “The 10 Day Turnaround” and Chairman of MediJane
7. “The first thing you have to know about private equity investors, especially the bigger ones, when you talk to them, you’re not just talking to one, but you could be talking to a very significant network of other private equity investors.” -Laleen “Lally” Doerrer, Managing Director of Kaizen, Inc.
If you would like to read additional insight from the speakers at the Marijuana Investor Summit, a new quotation will be featured each weekday in the MJINews daily newsletter. You can sign up by visiting our homepage and entering your email address into the newsletter subscription box.