Becoming a Successful Cannabis CFO in Just 6 Months

You’re dreading the start of the week: the soul-crushing commute to the office, the long working hours that resemble more like a 5-9 than a 9-5, and the monotonous day to day grinding, crunching numbers for the same thankless clients — does this daily routine resonate a little too much with you? Have you ever envisioned breaking free from the rigid corporate cycle and embarking on a more prosperous, fulfilling path but...

The key to success at dealing with common software issues that occur in Cannabis accounting is keeping a cool head and positive attitude. It’s easy to get overwhelmed tackling the many challenges that pop up. Furthermore, the CEOs and managers of the businesses you support can (and will) call or email you while they’re upset about the latest hurdle they need to scale. They’ll expect you to have the magic formula that gets all of their systems working. The best thing you can...

Whether you’re a Cannabis CBD/Hemp CEO or an accounting professional supporting licensed businesses in this space, knowing what is required with regards to compliantly managing inventory, as well as understanding the necessary processes and controls is valuable knowledge that can serve you well.    

It’s complicated for licensees who need to comply with how their particular state tells them inventory must be reported yet need some relief from the punishing...

Valuations play a key role in an array of Cannabis industry business concerns. Nevertheless, there’s a lack of good information for accounting professionals supporting the licensed Cannabis space. When you understand what valuation is—and the different kinds of valuation—you can help clients make choices that align with their needs. 

What is Business Valuation?

In a nutshell, business valuation is the process and procedures of determining the value of an owner’s...

Don’t know how much you should charge for providing Cannabis accounting services to pre-revenue businesses? You’re not alone! In this blog post, we uncover two main ways to consider setting your price. The first is by accurately framing the value you provide and asking a number of smart questions. The second is by reviewing a number of areas within the company’s pitch deck. Investing some time and energy into this process in the ways we suggest below will enable you to price...

Building a successful Cannabis/CBD Hemp accounting, tax, and Chief Financial Officer firm within six months is highly possible. Many DOPE CFO members have done it themselves, some in just a matter of weeks or months. It will however require work, commitment, putting in the time, and going through all of the necessary steps we will talk about in this blog post. If you’re wondering whether you can build your own firm while you keep your day job, the answer is yes. 

One major thing to...

Knowing what others want is a key ingredient when it comes to achieving what you want in life. Whether your “want” is launching a startup operation, working with businesses in the industry, or becoming an investor yourself, understanding the most common investor concerns empowers you to make informed choices on the journey ahead, so read on!

Cannabis Industry Investors Learned the Hard Way

Early investors in the industry were less focused on accounting and transparency when it...

From cash control and management issues to correct reporting, to seed to sale and POS software, providing quality accounting for Cannabis dispensaries is not easy. Furthermore, make the wrong move and you could incur large penalty fees for your client, land them in serious legal trouble, or both. 

Currently, there are hundreds if not thousands of accounting professionals claiming to have Cannabis accounting experience but they’re making big mistakes. Misinterpreting the tax code in...

Whether you’re looking to serve Cannabis startups as a world class CFO or are a Cannabis CEO in the making, knowing what it takes to properly position the company for success is imperative. 

Now, we don’t say all of this to scare anyone away or to be gatekeepers in any form or fashion. We say this so that all parties can know what is needed in order to do well in this niche. We want this niche to thrive, and not die on the vine because the blind are leading the blind into...

David Alport, co-founder of Bridge City Collective, started his Cannabis career in 2009 as a medical Cannabis cultivator in Oregon, after receiving his BA in Business with a focus in Finance from the University of Puget Sound, a career at Nike, and stint as a trader at the Mercantile Exchange in New York.

Today, David is the co-founder of two cultivation sites and two of Portland, Oregon’s first licensed dispensaries. Now, more than a decade since he joined the industry, he and business...