Matthew A. Hawes profile picture
Matthew A. Hawes profile picture

Matthew A. Hawes

Director of Sales and Marketing at Professor Seagull's Smartshop and Psychedelic Gallery

Cannabis - who’s in it and thriving?

I work for a large scale manufacturing company in California cannabis. Trouble is, most companies in my industry, and the state of California are way underwater, and I’m curious if anyone has seen success as a tenured Director, or even AE with either a brand or support services?


if so, how?

💰 Compensation
10

18 comments

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RandyLahey
Politicker
10
Account Executive
Cannabis - it's in my lungs and stomach, and I'm thriving.
alonzoharris
Politicker
1
Partner Manager
420 for lyfe~~
Filth
Politicker
7
Live Filthy or Die Clean
What's with the downvotes on this? Legitimate questions about industry he's selling in. And I'm curious to hear about this industry as a whole, one of my biggest clients is a tertiary provider for many of the growers.
Sunbunny31
Politicker
2
Sr Sales Executive 🐰
Yeah, I don't get it either. I'm curious to hear more as well.
braintank
Politicker
5
Enterprise Account Executive
Narcs
CuriousFox
WR Officer
2
🦊
Snitches get stitches
oldcloser
Arsonist
4
💀
Yeah.
RandyLahey
Politicker
1
Account Executive
Beat me to it!
detectivegibbles
Politicker
4
Sales Director
Out of curiosity...why are they underwater?
Sunbunny31
Politicker
3
Sr Sales Executive 🐰
Not sure who else is on here in cannabis sales who can commiserate with you, but you never know who may chime in.
CuriousFox
WR Officer
2
🦊
I wish I was in the industry. Seems legit. 🔥
ChunkyButters
Tycoon
1
AE
I spoke to a few cannabis SaaS companies years back when I was looking for roles. Ended up not moving forward due to lower than average pay, and potential impact on future roles.

Here's my take:
- Companies are under water due to the infancy of the industry. It's still illegal, so we haven't reached the full country acceptance.
- Cash is King. Due to federal issues, it's REALLY hard for anyone that directly touches cannabis to have banks, credit accounts, etc. and need to rely on cash. While companies that do not touch the plant, can have banks, if their customers do have banking challenges, that is a payment challenge.
- Potheads aren't super great tech buyers. While some of the industry is forward thinking, I'd say a good portion are just stoners who want to have a pot-related job.

This industry is still in its infancy. Once we get passed the legality, banking, payment, and security issues of the industry; I see there being huge opportunity. I think a lot of PE/VC backers are floating the orgs until that happens, banking on huge returns for public listings, buyouts from food/bev, etc.

If I were in this industry, I'd be looking for consistent revenue growth, high client retention, a sticky (icky) product, and good leadership/financial backing. Debt is fine as long as the growth supports the thesis. Equity will be the major return vs a huge salary payout.
mndzgem
0
Consultant
I agree. Banking is a huge problem. I work with cannabis merchants and see firsthand the challenges they face. Once SAFE banking(or something similar) is passed, the flood gates of opportunity will open.
Maximas
Tycoon
0
Senior Sales Executive
What...Wrong Place!!
punishedlad
Tycoon
0
Business Development Team Lead
Benzinga does reporting on tons of cannabis related market stuff. I'd check out their content to keep your finger on the pulse of which companies are actually doing well. The industry goes pretty far outside of California now that a lot of states are recreational.
SaaSsy
Politicker
0
AE
Following to learn. I don’t know much about the industry in the U.S. but I’ve heard there’s a ton of challenges. What about up in Canada? I invested in some funds up there years ago hoping the changing tide all over N. America would payoff…I can tell you I’m still waiting 😂
ChumpChange
Politicker
0
Channel Manager
Curious to know your viewpoint on working in an industry that only accepts payments in cash. I for one think it's absurd to tax these companies but at the same time require them to only accept cash.
GTMLeader
Good Citizen
0
GTM Leader
Not all states require cash payment.

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