David Drake, the CEO of Cannabis Reports (formerly Smoke Reports), presented at the Seed Series in San Francisco on March 2nd. The company, which provides data analytics and has now created special software codes covering 25K separate items, has 13 employees in 4 states and has raised $1.2mm. Drake began with a lot of personal information that helps understand his passion for cannabis. His evolution from President of his 6th grade D.A.R.E chapter to cannabis industry entrepreneur is fascinating. The talk is helpful for entrepreneurs who want to enter the industry or for potential investors who would like to better understand the DNA of Cannabis Reports.
- Fill a void if others aren’t going far enough
- Watch Shark Tank
- Don’t operate in a vacuum – talk to people
- Constantly reiterate
- Start small
- Shared office spaces are great
- Say no to investors who don’t get your mission
- You don’t have to have a pitch deck
- 3-5 years is way too short for an exit in the cannabis industry
- There is so much more to learn about cannabis than what we know now
Are you a cannabis industry thought leader and want to be heard? Let us know your story.