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How to Build and Sell Your Cannabusiness Like A Boss
Manage episode 311734664 series 3001923
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In 2017, Josh Delaney started FAB CBD, a CBD e-tailer. Delaney’s Mom was his first customer, but his sales quickly went beyond family members. By 2020, through a combination of savvy marketing and good fortune, FAB CBD had risen to more than $10 million in annual sales. In early 2021, Delaney caught the attention of High Tide Inc., a Calgary-based cannabis company that offered him $13 million in cash plus $8 million High Tide shares in return for 80% of FAB CBD (an implied valuation of $25.8 million).
In this week's episode, you’ll discover how Delaney used affiliate marketing to double his revenue each year leading up to his exit, the value of retaining “optionality” and why getting “too romantic” about your company can undermine your negotiating leverage.
What to listen to next:
Episode 01 - The 10 Reasons Investors Say No to Your Cannabis Business
Episode 06 – What To Do When a Potential Investor Wants to Write You a Check
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