At EstroHaze, a huge part of our focus is helping you use cannabis to build a business. Be it a retail shop or an online entity, you’ll need some help! In this recent podcast episode, Patrick Rea, CEO of Canopy Boulder, shares why he decided to enter the cannabis space, how Canopy Boulder was formed, tips on applying and what they seek in potential startups, and his top 5 tips on entering the industry as a early, ancillary startup.
3:55: We didn’t set out to starting an accelerator. Which is a good lesson to all entrepreneurs. Show up, engage, be present, and identify a real problem that you can solve, a problem that exists for many people.
(Patrick and partners started out wanting to do an investment fund, but weren’t seeing volume of investment ready businesses in industry)
5:00: We pivoted to accelerator because the problem was there was lack of investment worthy businesses in the industry. The industry was growing rapidly and needed service businesses such as payroll processing, data, ad networks.
10:35: Having a co-founder proves that you can convince someone else that you’ve got a really good idea. The business of being a startup is kind of like making friends. You have to build an ecosystem of people who are excited about what you are doing.
15:30: Patrick shares his top 5 tips about getting into the cannabis startup space. For example: “Be humble and realistic about what you can do and “you have two ears and one mouth. Use them appropriately.”
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