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#9. Advice for Hemp Businesses Navigating the COVID19 Pandemic From the Executive Director of the NC Industrial Hemp Association – with Blake Butler

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Episode Notes

This week I talk with Blake Butler, Executive Director of the North Carolina Industrial Hemp Association. In this short podcast (audio and video available), Blake shares what he’s hearing from his associations’ members, the likelihood of the state banning smokeable hemp and good advice and encouragement for navigating the current COVID-19 pandemic. Whether you are in the hemp and cannabis industry or a related industry, this one is worth a listen for considering how to take action during a crisis.

You can learn more about Blake and his association here: https://www.ncindhemp.org/

On Twitter https://twitter.com/NCHempIndustry

On Facebook https://www.facebook.com/NCIndustrialHempAssociaton

About Blake Butler

Blake Butler is the co-founder of HempX and has been involved in the political, business, and activist side of industrial hemp industry in since 2014. Blake has organized hemp focused educational events in North Carolina, Kentucky, and Virginia and planted hemp for fiber and CBD with farming partners Franny and Jeff Tacy in 2017-18. Blake is also a partner in Adapt Public Relations in Asheville, NC.


Episode Transcript

Jason De Los Santos: [00:00:00] Hey guys, Jason Hugh with spectrum labs. I’ve got a short episode for you today. This one is with Blake Butler. He is the executive director of the North Carolina industrial hemp association. In, in this short episode, we talk about  Blake’s conversations or, or insights from some of his different members.

some might be feeling optimism towards the future, some might be feeling worried about their businesses and what might happen, throughout and after this. The Cove in 19 crisis. He also shares some insights about what do you think about during this downtime or possible downtime for some of you about the future opportunities, innovating possible partnerships.

And then he also shares some, positive messages and some encouragement, which I think we could all use at this point in time, about how to think about things today and what, what to consider for the future, which there’s a lot of uncertainty, but. Yeah. At some point we’ll come out of it. Hopefully this conversation is helpful to you, and if you have any suggestions or questions about any topics that we should cover in the future, please feel free to reach out on our website, the spectrum labs.com and you’ll find our contact information on there.

So here is a brief and helpful and hopefully insightful conversation with Blake Butler.

Blake, welcome. Thank you so much for joining me on the hemp startup journey. I hope that you’re doing well today.

Blake Butler: [00:01:27] I’m doing great, Jason, and thanks so much for having me. It’s real important that you’re doing something like this in a time when we can not gather publicly, but we still need to get the right information now.

Jason De Los Santos: [00:01:37] Yeah, absolutely. And so we’re talking at the beginning of April, I guess, ended up. March. I don’t even know what day it is. she’s so strange. but, yeah, I think a lot of, a lot of things have been changing on a daily basis, so I really want to dig in to some things. you are the, network extraordinaire, so you’re always talking to people, politicians, people in their hemp industry.

Nancy just wants to talk to you today and just kind of see what you’re seeing out there in North Carolina. maybe U S and then just kinda some things that we can start to think about. I’m moving forward here today with a lot of the uncertainty that we  have present.

Blake Butler: [00:02:12] I’d be happy to.

Jason De Los Santos: [00:02:13] Let’s, let’s just start here. first of all, just to give a little bit of context for folks. what do you do?

I’m the executive director of the North Carolina industrial hemp association. We’re a Fabo one C6 trade organization in North Carolina. And we represent all the stakeholders in the industry, from the grower to the retailer, to the processor and all the professional services involved.

And we encourage that as an association. And I think that’s why we’ve been successful in North Carolina because we do have insurance agencies, attorneys, accountants, and others that are there to provide guidance for the grower or the farmer that’s never needed a business plan. Are needed, you know, to plan strategically financially.

So, you know, our association as much as we can, Jason tries to bring us professional acumen into what we’re doing so we can be seen as the most credible new industry out there.

Yeah. And I think professionalism is such a key word for our industry. You know, we have a lot of great people. I think on, on the, maybe not so great side.

Sometimes we’ve had folks coming in from a different kind of culture. and I think for the consumer, sometimes when there’s a lack of professionalism, it’s sort of. creates a certain stereotype, you know, a negative stereotype. And I think you and folks at your, the association bring that professionalism that we need so much to let people know that, Hey, you know, these people are serious.

You know, they’re, they’re concerned about, you know, whether it’s our health or about the integrity of the industry. So I definitely appreciate what you guys are doing with that. Our professionalism side of things. I think it’s, it’s a word that we throw around a lot, but it’s really important.

Blake Butler: [00:03:48] Well, and it’s how you approach each challenge with a new industry.

And, and I’ll give you an example. Last year in North Carolina, we spent a lot of time and a lot of our resources defending our industry from a ban on smokable hemp. Hmm. And wants the legislature and lawmakers tagged us with that term smokable hemp. It gave folks a different perception of what our industry was doing as we know it.

It’s a different delivery method of CBD. Yeah. We know folks get relief from it, but there was a different pincher picture that was painted and we had to go down there and play defense. As some we’re trying to define our industry and in our case, we want to change that moving forward. And now that we do have a pause because of the coronavirus, it gives us a little bit more, Tom, is how would we approach this?

In other words, I don’t even want to use the term smokable him in any of our legislation or any of our activities going forward. What I would like to pivot to Jason is craft commodity flour, because that’s truly what it is. The flower from the plant that takes different paths, whether it goes to a processor, might go to a retailer to be used in a smokable fashion, but again, as a relief method, another delivery method for CBD for that customer, and.

But approaching it with more often and knowing what we know about North Carolina, gives us an advantage as we engage again this year. The timing is unpredictable. Yeah. It’s something that a lot of people are panicking about and I’m trying to calm everybody down, but there’s really no answers of will we go back into session on April 28th.

I would say no at this point. As far as the North Carolina legislature, will we go into session at all? I’m not sure. I think we have to be realistic again, that there’s other priorities that our lawmakers have to put forth right now based on what our state, our nation or world is going through and now how it affects all businesses and remember that we’re expecially vulnerable as a new business.

And that’s why we are continuously communicating with our members and trying to get a feel of where everybody is and realistically everyone is not going to be able to survive. Yeah. Nothing. That’s the case with small businesses across the board, not only in the CBD and hemp industry, and we have to be very aware, but as you mentioned before, we cannot be complacent.

Because we all got into this to do some good. We all got into this to tell an American story, to help our community to turn away from the pill and look to a plant and all that still stands. And it can become more important than ever before, after we get through this crisis.

Jason De Los Santos: [00:06:54] Yeah, absolutely. I know we’ll, we’ll get through it eventually.

Sometimes it’s difficult, you know, when you’re in the middle of it, right? Like we’re in the thick of it at this, at this moment, and, it’s challenging. But, I feel like I mentioned before, we started recording and just for myself, but my mind is starting to lift out of the supposedly fog of. Or whatever you want to call it, whether it’s like, you know, depression or just the, the, the huge amount of anxiety.

the, the uncertainty, right? Just not knowing. I think it’s one thing if somebody says like, Hey, you know, you’re going to be shut down. as terrible as that might be, that that’s one thing that you sort of know, but I think when we just don’t know, nobody’s fault, but. We just don’t have a clear picture of what can happen.

You know, we have numbers and data and estimates of what it could look like for, for the health of our nation. but then of course that, then we’re talking about the health of our businesses, the businesses that you work with in the hemp industry. So it’s just mired in so much uncertainty. so you talked about the, the feel of.

Members and, and their mindset. you’ve talked to a lot of folks in the past few days. What are you hearing from folks like, are folks feeling positive? Are they scared for their businesses? What are you hearing on the street?

Blake Butler: [00:08:06] I think it just depends how long they’ve been engaged in the industry. We have a lot of members that will be planting for their third year.

And so they’ve learned some hard knock lessons the first and second year, but for the second year plan or that might not have seen success with their harvest last year. you know, we’ve been very honest with them. You have a three year license, and if you don’t feel good about planning, you don’t have to plan.

I’ll quote my friend chase Warner from triangle hemp. He said, I’ll tell people to plant a garden and hone your skills. Once again, you can still have a few hemp plants. Your license still exist, but if you don’t feel like you need to get out there again and take that risk, then don’t do it. You do not have to play them because it does start with the grower.

Jason. We need the grower. The farmer. To once again feel like there’s a supply chain that exist after all this. Yeah, and I think you hit on a real valuable point earlier about folks being nervous, but I will tell you that I have use this once again to remind people that we love exchanging that poster on social media about the 10,000 uses of him.

But in reality, we hadn’t even touched. 9,999 up. Sure, sure. It’s really true. And you know, knowing that we talk a lot about growing for fiber and creating a new economic system within our country and not relying on China and the fiber that they grow for him. Clothing. And other byproducts. This might be our opportunity to see the industry as a true agricultural commodity and start to diversify.

Now know a lot of growers and farmers aren’t gonna like to hear that because the cost per acre is going to be a lot lower. We’re going to have to really go out there and convince the Patagonia’s and the North faces, and the Loomis is internationals to buy from our growers. So it’s going to take a lot of

Cooperation and coordination, and quite honestly, it’s a three to five to seven year plan and it’s not a get rich quick scheme, but as we know, everyone cannot grow for floral purposes, for CVD, and after this, the market, in my opinion, is going to be even more challenging and trickier. To find sustainability.

Jason De Los Santos: [00:10:46] I think before this, the whole Corona virus thing started happening. There was a lot of talk, and at least regionally in this area in North Carolina, folks talking about, growing hemp for fiber, or, for specific consumer strains. Maybe CBN or CBG. in regards to, growing for fiber, one of the things that I heard often is that folks are saying, well, I can’t grow it yet because the infrastructure is not there, so I can grow it, but there’s nobody there to purchase it.

is that true or what are you hearing know? Are there people that can take that fiber that turn it into whatever furniture or, I’ve heard of 

Blake Butler: [00:11:25] it’s very true. Jason. We do not have the infrastructure in place yet. we do have a small operation in Siler city, North Carolina, a decorticator, but that’s the machine that can really break down that fiber.

One step of it before it’s made into a product. There was a large facility in Kentucky, and unfortunately there are no longer around, and they even discussed. Building a plan out in Lumberton last year, but the market conditions change. But here is what we do have in North Carolina. We have NC state university, and part of the strength of that university system is textiles and engineering.

And I think you and I discussed when we met that the next generation is really going to innovate on this space. I mean, I’m 51 I’m still fairly young, but I’ve been in the six or seven years, and I’d love to see the engagement and the partnership with an NC state first so we can truly figure out what path to take with fiber.

And then I think those companies could come along knowing that we’re trying to figure out a dizzy, not just a. Quick one one off kind of deal, like, Hey, let’s go a little bit of fiber and make this, let’s try to truly figure it out. And could it change North Carolina? Could we once again engage all the universities and the community colleges in the counties that need it so much and train folks for a new skill?

That can process fiber and have a co op of 80 to a hundred farmers growing him for fiber 50 a hundred miles around. It sounds exactly like the Burley tobacco co-op days because that is the model the farmer growers should just be concentrating on that harvest and then getting back to that next planting.

And be able to bring himself together, co-op, if you will, with other farmers and after it is dry or you know, just to be passed on. And remember, when you grow hemp for fiber, a big difference Jason, is that can sit in the barn. It can sit in the barn for nine months, for 12 months. It’s not being consumed.

It doesn’t have the restrictions that we all need to place on our growers if they’re grown for floral, because they got to have it in a climate controlled situation to avoid mold and mycotoxins. Are our processors not going to take it unless they’re going to have to clean it. And as you know, it’s, it’s quite a process.

So you would just rather folks know what they’re doing and be able to pass it on after that seven to 10. you know, dangerous. Period to the processor, but on the fiber side, we can get ahead of the game, and once we formed some partnerships and say, NC state says, you know, this sounds good, maybe we can do something together in the fall.

Then just I think those con, that kind of news going out there might pique the interest of some of those companies instead of us just going out there saying, Hey. Hey, our farmers are grow for fiber and create a new clothing line. I think we need some university partnerships to do it right. Especially those like NC state that have a historical kind of portfolio of how they worked with textiles and continued to work in an arena.

Jason De Los Santos: [00:14:51] Okay. Yeah. I feel like, this could be a good time for innovation and just thinking about, you know, what am I, or what is my company going to be focusing on after we get out of this pandemic? And so textiles, I mean, that could be a great idea. I like the, you know, the idea of aligning. With university. Do you know anybody there or a certain department that, you know, everybody that listens to this, you know, if we’re, if we’re in North Carolina, that should reach out to a certain person or department.

Do you have any ideas that we, that might prompt some action

Blake Butler: [00:15:22] there? Well, I think, I will, in a few months, I have talked to Dean Linton from the plant science school and others about how we could work together. but I think moving forward. Once we figured out how to reapproach our industry in North Carolina, if that’s part of the conversation, even our legislators, in my opinion, will be very encouraged knowing we’re trying to diversify across the state.

CBD is tricky. And, you know, I use that term lightly. And then what you go through with law enforcement and regulations. And I was thinking earlier when you were talking. Even in a time like this, if we had just a simple statement from the FDA, like vitamin E has as a supplement, it’s on the side of every bottle.

This can help your immune system and keeps you with a healthy heart. Just something like that, you know, would help give some guidance and we wouldn’t lose credibility. And what we build up. And I think that’s real important in this. Paul’s too, is our industry worked really hard in the midst of not having any approvals from the FDA that CBD was safe.

But what we see across the board is CBD is helping folks. Now, granted, we can’t go out there and make any claims, but I definitely have not read an accurate story that CBD has hurt anybody, right? And I believe like so many of us. That the cannabis plant is here for a reason, and I think when so much else fails, we returned back to our roots, no pun intended, and look for those plants that we know have multi uses and there is no plant out there that you can build with, that you can heal with.

Get relief from that you can feed. A population with by exploring more hemp seed and grain opportunities. There is not another plant out there period. And maybe this will be a wake up call in a way that we can play more often. Let people see our industry differently as we really are trying to help now.

We’re trying to do everything we can with this plant to help our communities and bring back the places, the small towns that need it the most. So I think if we all stay encouraged and realistic that we’re going to lose. Some members were going to lose. Some folks, we’re going to lose some growers. It’s just going to be the nature of the beast with the changing market.

But at the same time, if we stay encouraged and look for new partnerships and opportunities, I think North Carolina. We’ll be one of those top hemp States. I think agriculture is in our DNA.

Jason De Los Santos: [00:18:22] Yeah. you’re a tree advocate. Like I, every time I’ve talked to you, I just feel it from you. So thank you for, for that, for being a voice.

besides, Possible, partnerships between universities and, you know, have cultivators. Any other, maybe just ask it differently. what are the things should we be thinking about in this time? Right. And you know, I’ve heard of certain, hemp companies that are doing well. I’ve heard of other companies that maybe they’re not doing so well.

So now in a time of. Maybe pause where we can consider what we can do after this, this turmoil. What are the things do you think we should be thinking about whether partnerships, whether new ideas, maybe pivots, absolutely getting out of the business? Maybe, I don’t know, but just from you, you have a lot of experience in this field.

What are some ideas that you have there?

Blake Butler: [00:19:11] That’s a great question. I think first we need to support our retailers. No, they are mostly shut down in some cities. They are still open here in Asheville, North Carolina where I am. Some of them are still open under the health and nutrition category, but as I talked to him, they do not have the walk in traffic.

Some of them are doing curbside pickup, but most of them are offering gift cards and like we’ve shifted our website, that even has your company spectrum labs on there. Jason are great. Lab here, processor outside of Asheville. you know, we were trying to do everything we can because everyone is moving into this virtual world.

So if you do believe in our products and go out there and support our retailers on their online storage, that, that’s so important right now. And I’ll tell you why is because what I mentioned earlier. You know, sure. We have plenty of growers in the indoor complex and the greenhouse complex that are harvesting two or three times a year.

But then we have that outdoor grower that’s trying to figure out, should I plan again and strength from the retailers that the products are still moving and there’s still opportunity. There would be a good sign. So if you can please support our retailers. And the second thing I would say is this, you know, I think we should all use this opportunity.

It’s going to sound kind of corny to get healthier and just check ourselves. Yup. And I’m doing it. I’m trying to figure out how I can be more effective. How I can be better for not only what I do for our members, but just as our community and our town cities awaken again. I mean, we’ve got to have that kind of leadership in those people that go out there and say, it’s okay.

Yeah, you can come out of your house. We can gather Gambian. It’s okay. And I don’t mean that to sound corny, but I do mean it. Yeah. Because I mean, what I miss the most right now is being able. To have those events. Last year at this time when we were getting ready to stage an event called plant, we brought all our first time planners for our membership to Lillington and taught them how to plan indoor and outdoors and to think we’re not going to be able to do that.

It’s tough.

Jason De Los Santos: [00:21:34] Yeah.

Blake Butler: [00:21:35] So, you know, again, support our retailers because they’re in a real pivotal position to decide how long can I stay a lot in. That really comes down to, can I still move the products I need to move online because I’m not allowed to have my storefront open right now. So I think that’d be one thing.

And the second thing, again, to be more of a. Just a leader in our thinking like our industry is to go out there and take risks. And just, you know, have more of an assertive voice after all of this is over. And I just think, you know, checking ourselves and be sure we’re all doing that for those folks around us.

Jason De Los Santos: [00:22:16] Yup. Totally agree. so it’s probably a good time to start wrapping up. is there any other message that you want to leave people with, or if not, what’s the best way for folks to get ahold of you if they want to reach out.

Blake Butler: [00:22:28] Absolutely. If you’d like to learn more about our association, you can go to NC I N D  dot org and when Jason shares, this was with me, I’ll include it, in the text and we’d love to have you join us.

Like I said, things are a little bit different. In the next two to three months, and that we’re going to be doing more webinars. We’re trying to put together a planning webinar to take care of what I mentioned earlier, since we can’t gather, as well as podcasts like this and any information that we can put out there, our association is and support in it.

Of it and we’ll do everything that we can and, you know, more than anything, just know that there is another side of this and it’s all up to us of the attitude that we have when we come out of this. And, you know, our industry and every industry, every small business needs support after it’s all over.

But we just got support each other. So I appreciate you doing this Jason. Cause this gives me opportunity, to share information with a lot of folks.

Jason De Los Santos: [00:23:31] Yeah. Thank you very much. Absolutely. Thank you. Thanks for being a good leader and keeping the positivity going. We can all use that right now, so don’t stop.

I keep seeing. Awesome. Blake, I look forward to chatting with you next time.

Blake Butler: [00:23:44] Thanks so much

Jason De Los Santos: [00:23:47] guys. And before you go, this is Jason from spectrum labs. Please be sure to visit us on the web as the spectrum labs.com for any show notes and links. Discussed in the podcast. Also remember to click the subscribe button wherever you may be listening from, so you get notified when our next episode comes out and tune in next show and have a fantastic day.

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Financial advice for business owners navigating the covid-19 epidemic from a certified accountant (podcast)

#8. Financial advice for business owners navigating the COVID-19 epidemic from a certified accountant (podcast)

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A Different Episode…

For this podcast episode, we take a detour from our regularly scheduled program discussing the hemp industry. Today I speak with Mike Sowinski, CPA, about how to navigate your company during the COVID-19 crisis and future uncertainty. This is not all doom and gloom, we also discuss potential opportunities during this time. This conversation is applicable to hemp and cannabis companies as well as any small and medium-sized businesses that are navigating the Coronavirus uncertainty.

About Mike Sowinski

Mike Sowinski has managed financial operations for companies of all sizes, from small family-run enterprises with less than $100K in sales to Fortune 500 companies with $12 billion in sales. He is especially skilled at guiding businesses through complex financial scenarios with a distinctive mix of practical advice, on-target, problem-solving abilities, and a deft sense of humor.

He’s spent his entire career in financial management positions, working for business owners in real-world scenarios, skillfully managing a range of internal operations and business models. From simple cost-reduction programs to complex IPO procedures, Mike’s experience ranges from banks to insurance companies, national CPA firms, and smaller regional and local businesses. As a Chief Financial Officer, he effectively executed numerous external projects with audit firms and regulatory agencies.

In 2010, he became Accredited in Business Valuation and has performed more than 100 business appraisals in a multitude of industries. He has provided litigation support and has testified as a valuation expert in several owner disputes and equitable distribution matters.

He graduated from the University of Central Florida in 1990 with a Bachelor of Science in Accounting. He holds CPA licenses in Florida and North Carolina and has more than 25 years of progressive financial management experience.

His passions include original music composition and fishing.

Contact Mike: www.CFOConsultants.net

Episode Transcript

Jason De Los Santos: [00:00:00] hey guys, Jason here with spectrum labs. We are taking a bit of a detour for this episode. Normally we talk about cannabis regulation. We’ve talked about the endocannabinoid system seem to be, and the adenoids. This one’s to be a very different internally for the next angel episodes as well. Well, we’re all going through this.

Current events, crisis and epidemic. Now it’s important to understand the facts of what we’re going through today. There’s a lot of uncertainty

facing all of us right now, handling ways, but these next few episodes is to give some actionable steps. Wrestle. Think about, you know exactly which ones. Be the best steps to take, but I’m just trying to use some logic and reasoning and how to best move forward together come out of this as best as possible.

And your side. So for this particular episode, I brought a friend, his name is Mike . He’s an accountant, a certified CFO consultancy practice. And he has a lot of good insights. Think about your company right now from a financial perspective and we’ll  it pretty short and actionable.

Mike, welcome to the hemp start journey. We’re taking a bit of a detour with a typical content that I go over on the podcast. And, so, you are my first detour guest, so, yeah, we’ve been friends for a long time. So, you know, when, Marcus actually suggested, you know, Hey, what did you think about, maybe offering some, some advice or some guidance about.

Finance or just know kind of how to navigate and actually knew your company. So you were the first person that came to mind. Yeah. So just for folks that don’t know about you, just can you say a little bit about what you do? what’s your background?

Mike Sowinski: [00:01:53] Yeah, I own CFO consultants, which does, decision making for companies, but I’m a CPA, so I do all of those normal CPA firm things.

And so, the, the tax law and all of that that’s coming out now as well as, what’s going on, in the, in the Congress and all that I have to stay up on because of tax law and I’m staying in touch for all of my clients and putting out information like this.

Jason De Los Santos: [00:02:18] And you have a quite a variety of clients.

You do have some people that are in the hemp business, right? Some clients that are in the hemp business. so w we, if it’s appropriate, you know, as long as you can keep things private, maybe we can talk about some of that you’re seeing, but just in general, and you know, from a high level, you know, we’re at the, let’s see, at the end of March right now, what, what are you seeing with your clients.

and what people are, I guess, how they’re reacting to current situation.

Mike Sowinski: [00:02:42] Yeah. That w what’s interesting in the, in the hemp industry anyway, is all of the retailers, which is, they’re all trying to stay open. And, I even, you know, drove by some of the shops and they have their doors open physically so that you know that they are open.

because CBD is used so often for medical things. That, you know, and we were just talking about whether, is an essential service so that when we all have to stay in place during this time, if, if that has to remain open because it’s like a pharmacy kind of thing where it’s medical and you, you were saying, I think something about the West coast that that’s a, a prevalent thing.

You have to stay open. But all the clients that I have that are in retail, they’re desperately trying to stay open. But. We have seen, people not wanting to go into even stores. And I’ve had some of my, employees as well that wanted to do some accounting things for some of these folks. They’re afraid to walk into the store because there’s the general public, you know, and accountants are fearful anyway, but all you have to do is put some germs in there.

And now we’re like, well, I’m not going there, you know? So you’re trying to find electronic ways to, to communicate for that. You know, like, I’m Skyping. I have a lot of those now. no one’s coming to see me anymore for the same reasons.

Jason De Los Santos: [00:03:50] Yeah, sure.

Mike Sowinski: [00:03:51] Even even us together right now, I think is a dangerous thing.

We’re pretty far apart.

Jason De Los Santos: [00:03:56] Plus where we are in a, in a booth and closed and a weird hazmat suits, right. Masks on and face guards.

Mike Sowinski: [00:04:04] Yeah. I think we’re okay. Yeah. That’s specialty. Mike you had for the suit was cool. That’s awesome.

Jason De Los Santos: [00:04:10] so, let’s see. And then one of the things that happened today, so this, it’s March 25 right now, and there’s this new $2 trillion stimulus package that the government just released.

and we talked a little bit about that before. What’s your take on it?

Mike Sowinski: [00:04:25] It seems like there’s a lot of pieces that no one knows yet. Because they haven’t actually signed it. And a lot of people ask me for advice before signing, and a lot of people get on a podcast and listen to what all the politicians say.

But, you know, that wasn’t necessarily helpful because you’re, you’re fearful anyway and now you’re listing of things aren’t exactly, done yet. And so they’re still arguing about it. But the reality is, is that the, the, what the Congress wants, you know, American America to do is to employers to continue to employ the people that you can.

And they’ll give you the help to do that. And so, this morning a Schumer talked about, the, what the final deal is going to have, unemployment on steroids. And so what they’re saying is, is that they’re going to have full unemployment benefits, which means that whatever you were making before, you’re going to make after.

And the government’s going to pay for the rest of that. And, you can remain, you know, you, you remain whole  for the next four months, you will be paid in full as an employee. and, and, and then as, as, the second part of that is for companies is to have a loan program and they call it a loan, but really it’s a grant and it’s a grant if you use the money in the right way.

And so what they’re saying is the, if you continue to employ your folks in, in the places that you can, I mean, some things are closed because they simply can’t operate like a restaurant. But if you can employ people, and CBD a retail store is a perfect example of where they want you to continue to employ your people, but they’re going to support the small business owner by giving you four months of, of payroll money.

That you can use and as long as you use it for payroll, then that loan they’re calling it will be forgiven. And that’s the latest version of, of now it went into the dark hole and it’s still in the black hole. But that’s the latest version of those things

Jason De Los Santos: [00:06:14] change pretty rapidly after  try me. If they’re still in final negotiations and

Mike Sowinski: [00:06:19] all that stuff, why don’t they put planned Parenthood in there?

I don’t know why, and there are other things they put in the, you know. They just load the stuff with what I think now’s the time to have a green new deal or whatever the latest thing is, emissions for airlines was in there. You know, the, the, we’re trying to protect the airlines and, and then by the way, you need to stop polluting.

So. That’s the Congress for you.

Jason De Los Santos: [00:06:42] And I’m sure this is one of those words, like, you know, 10,000 pages. So people still, you know, they don’t even know probably what’s in the whole bill,

Mike Sowinski: [00:06:49] right? This new law. Yeah. And I count on, and by the way, also all small business owners should be looking at their associations that are related to what you’re doing because they stay on top of that stuff.

I get a lot of information from the AI CPA about specifically for finance. but in the, in the Hamptons tree, I know there’s a lot of different associations and that those people stay on top of those things.

Jason De Los Santos: [00:07:11] Yeah. Yeah. That’s a good idea. all right, so we’ll, those are some, some good highlights about that new stimulus bell and we’ll see.

We’ll stay up to date. And see what a, what are the details come out of it. and I think, so you talked about some benefits for individuals and benefits for small businesses. but then I guess the, there potentially some out what we usually call bailouts for some industries rather than thinking that your line is three.

Mike Sowinski: [00:07:32] And that was, that was the biggest sticking point in the entire, program was, that stimulus because there was no strings attached and no visibility on what they were spending it on. And it was just like, here, take it right. Take what you need, basically, but 500 billion on the table and take what you need.

So that wasn’t good enough for the Congress. So they went back and that was the one that they kept voting down. And now, why it’s taken five days was basically that, that you just give them the money and no strings attached. And that’s fine. We, interestingly enough, they didn’t do that to small business owners.

There were strings attached for them, but the big ones, they didn’t. so anyway, they’ve, they fought through that and now they do have strings attached and they do have, an oversight board that’s gonna ma, monitor where that money goes and have complete reporting and visibility. So if you take that money, it’s going to be visible and everyone will know how much you took and what you used it for, which is really, really what they wanted.

So that’s a good piece.

Jason De Los Santos: [00:08:26] Okay.

Mike Sowinski: [00:08:29] And one of the, one of the things that, I noticed with, getting back to small business owners, w one of the things I saw a lot of people do immediately, for example, restaurants that were really on top of their game was as soon as they announced the closing of the company or the closing of the restaurant, they immediately laid off all of their people nationwide.

Darden did that, which is the owner of ’em. olive garden and some of those, Tupelo honey, which is a local business, they did that immediately. they did it on the Friday that they announced that all restaurants must close. That Friday they laid everyone off. And so it was sort of an immediate action because, you know, the name of the game I think now is to defend your company, is to make sure that your company is still alive and now government is going to help you now.

But at that time, there was no assurance when they were, when they immediately said, you have to close. But I, I think that the goal was there was to have a plan. And so the, all these people kind of had a disaster plan to say, here’s what we do if this happens. And, they, and they brainstormed all of those kind of eventualities.

We, we’ve talked, I think about climate change and so forth where, some companies have entire infrastructure like Starbucks. They know that some of their countries are not going to be able to produce their coffee beans. And so they. They have a whole infrastructure set up outside of that country in order to continue their operation without having any disruption.

And so that’s very costly, where you might have warehouses that are closed and empty trucks and entire fleets of things just waiting for that to happen. But they do. And, and, they’re, they’re a major fortune 500 companies that have entire, operations set up. So that they can act on these things quickly.

They have meteorologists that work for the company, you know, that sort of thing. And, and in small business, you can’t do all that, but you can certainly have it in your head. And to plan on doing these things like, Darden restaurants did, where they, they knew what they were going to do and they took the action as soon as it happened,

Jason De Los Santos: [00:10:27] you know, pretty quick.

And so they fired their entire, like front office. It’s not like servers and, yep.

Mike Sowinski: [00:10:33] And chefs and cooks and all of the HR staff, accountants, everyone went, yeah. It was basically just a skeleton. and they, there are certain things like, and this is really interesting now, is the essential services idea. If you’re staying in place, you know, what is an essential service.

It turns out that accountants are essential services because we, we, are the backbone of everything else. And, and of course, the payroll, you know, for processing payroll, that’s important to everyone. but that essential services thing might be the very thing that gets your, the HAMP retail people to stay, to stay open and be able to keep going.

Jason De Los Santos: [00:11:10] Your clients are people calling you. You probably had a lot of phone calls and lot of emails in the past few days. what’s the, the sort of, the sentiment that people are calling you with? Like are they, are they freaking out? Are they sort of level-headed? what, what’s your take on

Mike Sowinski: [00:11:24] the ones that, it’s interesting, the ones that did freak out, I could call it that, but what they did is they went deep into the rabbit hole of studying what the Congress was about to do or studying what the government local was going to do.

And so they went down that rabbit hole. some of that wasn’t healthy because what they were worried about didn’t happen. and, and, and now I hear that a lot of people are buying guns and so forth. So a lot of this, it’s not a good sell, and I don’t know how healthy and, and so some of that going down that rabbit hole was, was unhealthy.

But, another thing I found is that a lot of people are getting . really, insistent. they, they, they want to know more things. So if they have control of something, like, let’s say how much your refund is, and I tell them what the refund is, believe me. They want that like tomorrow, you know, the very same day.

and so it’s a little bit, they’re a little bit stressed out with timing and, a lot more worried about things they normally would be.

Jason De Los Santos: [00:12:23] I guess the uncertainty is so strange. I mean. You know to, to, to nail that to that you don’t know how long it’s going to be. Right? Like that’s, that’s tough to take.

Cause, you know, like businesses, I think in general, you know, some people do it better than others, but you know, we, we play, like we do a marketing plan or review upon them to hire an employee or something like that. But, you know, for, in our lifetime, nobody’s ever said, you have to close your doors.

There’s no like, okay, you know, you close your doors for two days or two weeks or two months. You have to close your doors. And then, I certainly been, you know, put myself in a really bad position of just, coming back to the news every few minutes. It’s been overwhelming. And so of course people have different opinions cause you know, this is totally new to us.

So some people say like, Oh, well we’ll only be closed for a few days. And some folks train like the rest of the year. Like, you know, nobody’s gonna be able to go outside.

Mike Sowinski: [00:13:18] Yeah. And who knows how long restaurants will be closed. I just can’t even

Jason De Los Santos: [00:13:21] imagine. Right. Yeah, exactly. So,

Mike Sowinski: [00:13:23] they’ve set up the, I guess the Congress has sorta said four months.

That’s their assumption.

Jason De Los Santos: [00:13:29] Yeah. which is crazy for, for a lot of different perspectives. I mean, of course, you know, the business side, just people in general, I mean, in this country especially. We associate a lot with the work that we do, right? It’s like, Oh, I’m a chef, I’m an entrepreneur, I’m a this over the other.

I’m an accountant. And I think when that’s taken away from you, that’s really hard, and then you’re, you’re, you’re then a forced to be, let’s say, secluded or isolated in your home. And it’s one thing if you’re by yourself, but then it’s a whole nother thing. If you’re with either roommates or with family, then you have to deal with those dynamics of being in the same place 24, seven.

It’s just, it’s beyond business where like this is just about humanity at this point. And absolutely the intensity of the, the emotions.

Mike Sowinski: [00:14:11] and one of the things that I found that really helped, business owners on. On that side is to make sure that the, the, the information they’re getting is accurate and, and, and that, that you don’t listen to any authority necessarily, that you, you dig deeper.

Neil deGrasse Tyson, who’s a famous stuff physicist, he always says that, you know, it’s, it’s all about the facts and you can’t hide from the fact. That’s it. Or they are what they are. You don’t, you aren’t entitled to your own facts. Actually. It’s, it’s a scientifically proven, and he goes through the methods and so forth.

But I found that a lot of people have really appreciated when you tell them that this is a, and that’s where they, they ha, retreat to as sort of the professionals like myself and, and lawyers and other people that they trust, financial advisors, or, or even a trusted family member. That, that is sort of, you know.

In the middle and doesn’t all of the hype and hyperbole and, and, and political, whatever, political environment, all that doesn’t matter at the end of the day. In this case, in this particular, environment, it’s a fact that there’s a virus and it’s a fact that people are dying. And so that’s not something that’s open for.

Interpretation. You can’t argue about it. so what do we do about it?  and so the, the, what do we do about it becomes a lot more interesting when you get past the fact that we have to deal with this.

Jason De Los Santos: [00:15:32] You’re probably one of the most logical minded people that I know. You’re always like, you know, here, here it is.

Like, here are the facts. And so therefore, here’s what we have to decide on. do you find yourself as much as you want to share? Like do you find yourself kind of. Teetering on that, like emotional kind of, indecision or, or maybe the indecision is not the right word, but just, moving away from that, the typical logical side of you.

Mike Sowinski: [00:15:53] Yeah. The, the hard part is, is that, all these are unknowns. And so even in my business, we’re an essential service. And. I’ve had absolutely no slow down. It was tax season when the stuff hit. So I had more than enough work, and a lot of people want their stuff, like when it, like now, like I was saying, they’re a little more nervous about things.

but even in spite of that, all of these things coming out from the Congress, I really don’t know. What they’re going to come out with and, and I don’t know which direction I’ll take the firm because every small business owner has to do the right thing for their business, whatever that is, and you have to make the best decision based on what the facts are at the time and what you have available to you.

I’m fortunate that I didn’t have to make any decisions yet, but I know that all that’s coming. And, and if the Congress is going to give you, for example, free payroll, you know, why wouldn’t everyone take advantage of that, in this time? I think the problem in my business is certainly going to be collections because all of my clients are feeling the problem more than I am.

And, and, and some of them are in the hemp industry, some of ’em are retailers, large retailers, and some of them are, are directly related to advertising or something that’s not going to be restarted right away. And so when those things hit. I have to take the actions I have to do for my business, but not until those things happen.

And I think that’s what the Congress is real legislation is really about, is trying to help you. If you’re going to make a decision, that’s perfectly logical, but if you’re going to make that decision, they’re going to help you. In every part of that,

Jason De Los Santos: [00:17:23] if an individual for

Mike Sowinski: [00:17:24] the businesses. Exactly. As the small companies.

Jason De Los Santos: [00:17:27] Yep. Okay. So now that we sort of, you know, from this conversation, we understand the facts, right? Like this is just a catastrophe of great magnitude. It’s just a fact. Here’s where we are. So what about, let’s talk about a couple of different companies scenarios, right? Let’s talk about, companies that, let’s say they’re there.

They’ve done well so far, and, you know, you always talk about cash and, and you know, cashflow. And so let’s say that some company’s positioned well. What, what should they be thinking about at this point with the uncertainty that lies ahead? What do you suggest?

Mike Sowinski: [00:18:00] Well, the, it’s really interesting cause a, Warren Buffett’s had always said that when other people get concerned, I start to get greedy.

And so it’s kind of the same, environment I’m seeing. I talked to bankers who bank only large really successful companies and the bankers messages were open for business. Come in and and get your, get your money, you know, whatever you need, whatever you want to do. And so what, what, the really successful folks can do is take advantage of this time and, and look for opportunities.

For example, you know, if there is a failing business or someone’s going to have a real problem and they’re related to your business, you could actually buy them. Or you could go into business with them or provide them alone alone that has a string to it that says that if you’ve default, then I get your business kind of thing.

but you’re helping others, but you’re also expanding your business at the same time. A real, real estate hasn’t been, there has been some impact to real estate already with people worried about closings and so forth. But a lot of that is still moving forward. And so, the pricing of real estate’s going down.

And so the, the, the opportunity for companies and individuals is going to be much greater in the, in the near future. In fact, some appraisers or real estate have, you know, barked right now because. The uncertainty is hurting, how would you value a, a house right now? and sign off to it because no one really knows what this means to their market.

So it’s a really stressful thing to be appraiser right now and that environment, you know. But those opportunities, are, are definitely, and it’s been a long time, 11 years or longer, where there was this opportunities that, that are going to come in front of these folks that have the ability to help, but also be able to, at the same time increase your wealth and increase your business size.

Jason De Los Santos: [00:19:47] Okay. And what about on the other end? So companies that, let’s say maybe they were just barely treading water and ran like cash strapped, maybe businesses not doing so great. So what, what should those companies consider doing right now?

Mike Sowinski: [00:20:00] And that was a, I have some of those, you know, where you have a new business and that, and that’s another thing.

There was an opportunity was, these new businesses that just started up, or he just had a thing. Th there’s going to be something in this package for everybody. because the ability to stay open and have your employees paid for is really a gigantic leap forward for them. but in terms of, you know, the, the planning, the, the, hitting milestones and, and when, when you’re struggling, you know that you gotta see the ramp on the way out.

You know, we’ve, we’ve, you and I have gone through many ramps and, and having that ramp and knowing what that looks like and hit those marks as you go, is critical. The other is the metrics of the company before and after knowing the metrics of your company. I had a, I had a friend that had a boat and he knew how many, he had a fish store and that’s how he bought his boat.

And so everything in his life was how many fish you would have to sell. How many of these tropical fish, and he had it down to, well, that’s 1,300 fish or 2000. And everything in his life was based on those fish. and that example can be put into, into service for any company, especially the ones that are struggling or at the, at the beginning of a ramp, just to have an idea of what’s the, what is that break even?

Where is that fish? And also, how, how much are you willing to, to stick it out. Right? Because you don’t want to sacrifice your family, your sacrifice, your entire wellbeing because you’re trying to start something. But on the other hand, you got to take that risk cause that’s where the reward is. Then the

Jason De Los Santos: [00:21:29] rainbow.

Yeah. That’s a good way to think about it. That’s fine. You know, you’re friends with the, with the finish, like it wasn’t dollar amounts. It was like how many

Mike Sowinski: [00:21:35] fish?

Oh yeah. And, and some other, people people had been taking advantage of lately. it was, you know, their relationship with vendors has been absolutely critical because when you tell them, Hey, the chips are down and they know the chips are down too. But if you tell them what your ramp looks like, or you tell them how long it’ll take to pay, or you, set up a payment plan with them, they will provide you free lending.

And so that’s a great place to start is with vendors to make sure that they know where you’re at. some people, for example, I was with a, I have a, a struggling, we’re, Countrywide, wholesaler of foods. And so because of this thing, they were struggling. But then because of this crisis and everyone’s in a grocery store, suddenly they’re the star of the show.

And so we’re a bank was very upset at them and the bank is doing all sorts of things that are really upsetting to that whole S to that, retail or that wholesaler of, of foods. Now that they’re there, suddenly. You know, bright star. And so this has not changed everything for the worst cause. The other thing I like to say about small businesses is if, when you are a, have this relationship with your employees and you want to lay people off or you want to help them, obviously everybody wants to help your employee, point them in a direction of a, of a place that’s still open.

grocery stores are, are, if you fog a mirror, you can work at a grocery store right now.

If you, if you walk into a grocery store, you’re hired and this, and, and they’re, they’re not a bad career. And there’s, there’s a lot food, of any sort that, that’s being sold. You know, all of the, manufacturers of food, all of them are hiring as well. And so there’s a lot of opportunity out there for people to get to work and that want to still succeed and there’s so much opportunity out there.

It’s just in a different place now. Sure.

Jason De Los Santos: [00:23:27] It seems like food delivery, groceries,

Mike Sowinski: [00:23:29] exactly.

Jason De Los Santos: [00:23:30] What was that? Heard that Amazon was hiring 100,000 people or something like that? Have you heard anybody else that’s really getting into hiring right now?

Mike Sowinski: [00:23:39] Yeah. It was just all the, all the major grocery stores that that fog a mirror thing actually came from them, I think because they’re all hiring like that, that you walk in and you’re hired by the time your toe touches the front of it because there’s so much restocking.

That has to happen. And then of course, Oh my gosh, the, the delivery industry, like you said. but all the truck drivers that are delivering the food to the places and then all of the warehouse workers, it’s just, it’s insane. And all those are, and of course pharmacies and, all of those things that are so what you’re right, health care.

So what you’re looking for is those essential services thing. If you want to get a job, now’s the time and all those essential services cause everyone needs you.

Jason De Los Santos: [00:24:19] Yeah. So, you know, one of the things I’ve been thinking about is that in a time of, let’s call it turmoil, or let’s say if you are secluded to being home and maybe your job is a, is at risk or, or not, you know, it seems like this could be a good time to rethink what you’re going to do after.

Sort of after the hump. Yup. and so let’s talk about small businesses and your small, medium sized businesses that you work with. And, some of the things that you typically see that these companies get wrong. What are the things to think about, to fix today? Where I like if, if they can continue working right after this, this crisis, what are the things to think about and to fix today so that when we come out of it, that they’re poised to be in a much better position, haven’t taken advantage of, gotten better.

time period.

Mike Sowinski: [00:25:05] And that’s a, there, there were a couple of things I always recommend to folks, before this kind of thing. It’s just a daily kind of reminder and one is, always to have an open line of credit. And so it’s going to be for everyone a great time to talk to banks because, they’re required, you know, banks are required to give you this model.

This is not like optional for the bank. They don’t get to say, Oh, who gets it and who doesn’t know? Everyone gets the money, for this particular purpose. So it’s a great time to look at the whole picture with a banker and, and have some open lines of credit because nothing makes you feel better than having $100,000 a stack of credit cards that you can just.

It’s okay. Your life’s okay. Regardless of visits, zombie apocalypse, and everyone buys guns and starts fighting, you still have the ability to do what you need to do for your family. You know, that’s the most important thing. and the other thing is diversification because, you know, whatever it is that might’ve hurt your business right now was likely caused because you didn’t have more customers, or you didn’t have different lines of business that aren’t related to each other.

I know, you, you and your business have, have done that. with hemp, but also other areas where you’re in to several different industries. It’s not just one. And so if one’s impacted, it doesn’t impact the whole. And, and I’ve certainly done that in my business and I recommend it to everyone, is to have, you know, as much diversification as you can without losing focus on your products and stuff.

and the other is planning, knowing, you know, having those number of fish in mind and know exactly where those points are. Because no matter what happens, you can always take action. And you can decide how many fish are dead before you, before you decide you need to do something about that. And then the LA, the last thing that I thought about was, take, take action, based on the best and best facts you have at the time.

Yeah. And that really will help you in everything that you do, but don’t be rash about it. You know, you don’t want to, for example, in, in my business, I had taken the, the cue from the restaurants and laid everyone off. That would have been exactly the wrong thing to do. Sure.

Jason De Los Santos: [00:27:06] So, I know you hate this question, but I’m going to ask you anyway

what, so again, we’re, we’re at the end of March here. how long do you think that we’ll be in this position? However you wanna define it?

Mike Sowinski: [00:27:21] Well, the Congress and I, I, you know, as much as I hate to say it, there, there are some of those folks have some people that are smart around them or they are smart.

and the four month, stimulus that they’re, they’re putting in place is for a reason. they, they spent time, cause a lot of them have international. Contacts, a lot of those folks. So they believe, you know, the Congress believes that we’ll be out of this, in terms of being able to get back to work in four months.

And if you look at China and the places where it originated, they have started, they have restarted their economy. They’re actually people going to clubs and restaurants now and . I mean, it’s amazing. They have done it. They, they got the, they pulled the rabbit out of the hat. but it did take about. The magic four months that they’re putting together here.

And so I believe that things will start, begin to start where you starting in four months.

Jason De Los Santos: [00:28:09] So possibly like beginning of August

Mike Sowinski: [00:28:12] like that. Yep. In the summer. And you know, if, if Trump’s ride, and I hope he is, that, that the virus is seasonal, then, it would go away naturally in the summer anyway. a lot of people internationally are worried about their outbreaks recurring.

And I think what we’ve all learned from this is that these things happen and you just have to be prepared. .

Jason De Los Santos: [00:28:31] Yeah. Yeah. Usually. I don’t like to use the word hope, but I hope so.

Mike Sowinski: [00:28:36] I

Jason De Los Santos: [00:28:36] hope that. It doesn’t take much longer than that. I think just for, for our sanity, and I think for a lot, a lot of parents out there, you know, at home with kids.

And I don’t know, I think just for, for just our, our whole community, right? Like, we’re so used to being around. People for the most of, most of us. Even me as an introvert, you know, it’s like,

Mike Sowinski: [00:28:57] Oh, do you want go to a party? Like, eh,

Jason De Los Santos: [00:28:58] I’m fine. And now it’s like, get me outta here. I want to go see people.

Mike Sowinski: [00:29:04] And then we both go to a party and we’re introverts together.

So

Jason De Los Santos: [00:29:08] goats. Oh man. Okay. So I think those are good. Yeah. Anything else you want to leave people

Mike Sowinski: [00:29:12] with? No, no. It’s just a, it’s not a time, you know, in, in, in business owners, the best advice I could give is not to be fearful, but just take action based on the best information you have. And, and, and you, you know, if you’ve been in business for a while, what you need to do just execute and don’t worry about the.

The other stuff,

Jason De Los Santos: [00:29:30] have the analysis paralysis, know

Mike Sowinski: [00:29:32] exactly. Yeah. Yeah. This is not a time to, to, to study spreadsheets.

Jason De Los Santos: [00:29:38] That’s a lot coming from you and from an accountant. Right. all right. So if somebody wants to get ahold of you, how should they do that?

Mike Sowinski: [00:29:44] Yeah, you can find me at CFO consultants. Dot net.

and, I have other businesses, but that’s the best one. And it has all my email ad address and all the telephone information,

Jason De Los Santos: [00:29:54] so, all right. Awesome. Mike, thank you very much to adding a little bit of a logic to this, uncertainty. So, if, yeah, if anybody has any questions, just to reach out to Mike.

at his domain or, guests can reach out to me. I’ll point you in the right direction to get ahold of Mike. And, let’s, let’s keep moving forward.

Mike Sowinski: [00:30:10] Yeah, thanks Jay .

Jason De Los Santos: [00:30:10] Hey guys, and before you go, this is Jason from spectrum labs. Please be sure to visit us on the web as the spectrum labs.com for any show notes and links discussed in the podcast. Also remembered. Click the subscribe button, wherever you may be listening from, so you get notified when our next episode comes out and tune in next show and have a fantastic day.

About Spectrum Labs

At Spectrum Labs, we source local hemp and extract high-quality Full Spectrum Hemp extracts that even our families can use.

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To learn more about Spectrum Labs, visit TheSpectrumLabs.com or contact us at (828) 229-7952

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#7. Everything you need to know about hemp and CBD from a research scientist’s perspective – with Emma Chasen (podcast)

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About Emma Chasen

Emma Chasen has a mission to educate people on the science behind Cannabis so that they may take charge of their own healing. After graduating from Brown University in 2014 with a degree in Medicinal Plant Research, Emma went on to coordinate Clinical Oncology trials with the Brown University Oncology Research Group. When her supervisor refused a Cannabis trial in favor of another expensive pharmaceutical drug, Emma quit and headed across the country to Portland, OR. She found her way to Farma, the popular Portland dispensary that takes a more scientific approach to Cannabis; rejecting the Indica/Sativa binary and instead focusing on chemotypes to determine effect. She began her career at Farma as a budtender and was quickly promoted to General Manager and eventually to Director of Education. In this role she was able to focus on educational efforts and create a robust training curriculum that focused on cannabis science, product knowledge and empathetic patient care. Emma now co-owns and operates Eminent Consulting, a cannabis consulting business that offers educational training and craft industry development for cannabis industry professionals and businesses. She helps brands develop educational marketing collateral and ongoing educational programs to further elevate their brand presence in a competitive industry. She also helps struggling and newly emerging cannabis businesses with business organization and sets them up for success in both the competitive medical and adult use markets. Emma was named Portland’s Best Budtender of 2016 and featured in Newsweek, MG Magazine, Forbes, High Times Magazine, The Centennial, The Oregon Leaf and Teen Vogue for her work with cannabis education. She is also a regular guest on many cannabis focused podcasts and has been featured on television for her ability to explain scientific concepts around cannabis in a way that is accessible and helpful to the general public.

https://www.eminentconsultingfirm.com/

https://www.instagram.com/echasen/?hl=en

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#6. 2020 Predictions From A Top Cannabis Attorney – With Rod Kight, Kight Law

https://www.podbean.com/media/share/pb-45jis-d38b0e

About Rod Kight

Rod Kight is the principal of Kight Law Office PC, which represents businesses in the cannabis industry, including hemp and CBD, throughout the USA and the world. Rod edits the popular Kight On Cannabis law blog and wrote “Cannabis Business Law-What You Need to Know”, a cannabis law primer for business executives published by Aspatore Books. Rod speaks at national cannabis conferences, drafts cannabis legislation, and is regularly quoted on cannabis matters in the media, including Time, Wall Street Journal, Business Insider, and Business Insurance. He was recently named a “Top 30 Powerful Cannabis Litigator” by MG Magazine and one of the “100 People You Should Know” by Hemp Connoisseur Magazine. Rod testified at the FDA public hearing on cannabis. He writes and sits on the advisory board for the American Journal of Endocannabinoid Medicine, a peer-reviewed publication.

Rod believes strongly in personal and medical cannabis use for many reasons, including that it helped him during chemotherapy treatments for cancer. He is an attorney advocate for NORML, and a member of the International Cannabis Bar Association, the National Cannabis Industry Association, the Hemp Industries Association, the North Carolina Industrial Hemp Association, and the South Carolina Hemp Farmers Association.

Rod is married to his elementary school sweetheart, Ashley. She is also his office manager. They raise 5 children. Rod plays guitar in a rock band. You may contact him by email at rod@cannabusiness.law or phone (828-255-9881).

Episode Notes

2:30 Parenting stuff 😂
3:00 Superlawyers recognition
5:00 Rod’s growth with his law firm
6:30 Marijuana legalization in North Carolina
8:30 How long will it take for North Carolina to legalize Marijuana?
10:00 How to handle disparities between cannabis lab results?
11:00 What to look for with cannabis testing labs
17:00 What is Rod noticing with his recent client requests
21:00 Explanation of efficient breach of contracts
22:00 Will USDA interim hemp regulations help stabilize the cannabis industry?
27:00 Rod’s 2020 hemp and cannabis predictions
28:00 CBD will go mainstream
30:00 Crossing the Chasm as it relates to CBD adaptation in the marketplace
33:00 Track and Trace Hemp products
38:00 Vaping crisis
39:00 Does blockchain have a place in tracking hemp?
40:00 Availability of novel cannabinoids in the market: CBG, CBC, CBN, THCV
43:00 International CBD market will emerge
44:00 How to start considering exporting hemp and cannabis outside of the US
47:00 Upcoming international cannabis conferences
47:30 Insolvencies and bankruptcies in hemp and cannabis industry
50:00 Financial institutions courting hemp industry
52:00 Hemp industry opportunities; high risk, high reward
55:00 Reasons why international market is interested in US-based hemp and cannabis
56:00 How to connect with Rod Kight

About Spectrum Labs

At Spectrum Labs, we source local hemp and extract high-quality Full Spectrum Hemp extracts that even our families can use.

Spectrum Labs can manufacture these full-spectrum hemp extracts:

*Crude
*Distillate
*Tinctures
*Gummies
*Lotions
*Custom formulations

To learn more about Spectrum Labs, visit www.TheSpectrumLabs.com or contact us at (828) 229-7952

Asheville, NC


***If you enjoy the podcast, please consider leaving a short review on Apple Podcasts/iTunes. It takes less than a minute, and it really makes a difference in helping Apple recommend the show to new listeners. I also love reading the reviews!

#6. 2020 Predictions From A Top Cannabis Attorney – With Rod Kight, Kight Law (Podcast)

Listen on

Apple Podcasts | Spotify | Google Play | Youtube | Stitcher

About Rod Kight

Rod Kight is the principal of Kight Law Office PC, which represents businesses in the cannabis industry, including hemp and CBD, throughout the USA and the world. Rod edits the popular Kight On Cannabis law blog and wrote “Cannabis Business Law-What You Need to Know”, a cannabis law primer for business executives published by Aspatore Books. Rod speaks at national cannabis conferences, drafts cannabis legislation, and is regularly quoted on cannabis matters in the media, including Time, Wall Street Journal, Business Insider, and Business Insurance. He was recently named a “Top 30 Powerful Cannabis Litigator” by MG Magazine and one of the “100 People You Should Know” by Hemp Connoisseur Magazine. Rod testified at the FDA public hearing on cannabis. He writes and sits on the advisory board for the American Journal of Endocannabinoid Medicine, a peer-reviewed publication.

Rod believes strongly in personal and medical cannabis use for many reasons, including that it helped him during chemotherapy treatments for cancer. He is an attorney advocate for NORML, and a member of the International Cannabis Bar Association, the National Cannabis Industry Association, the Hemp Industries Association, the North Carolina Industrial Hemp Association, and the South Carolina Hemp Farmers Association.

Rod is married to his elementary school sweetheart, Ashley. She is also his office manager. They raise 5 children. Rod plays guitar in a rock band. You may contact him by email at rod@cannabusiness.law or phone (828-255-9881).

Episode Notes

2:30 Parenting stuff 😂
3:00 Superlawyers recognition
5:00 Rod’s growth with his law firm
6:30 Marijuana legalization in North Carolina
8:30 How long will it take for North Carolina to legalize Marijuana?
10:00 How to handle disparities between cannabis lab results?
11:00 What to look for with cannabis testing labs
17:00 What is Rod noticing with his recent client requests
21:00 Explanation of efficient breach of contracts
22:00 Will USDA interim hemp regulations help stabilize the cannabis industry?
27:00 Rod’s 2020 hemp and cannabis predictions
28:00 CBD will go mainstream
30:00 Crossing the Chasm as it relates to CBD adaptation in the marketplace
33:00 Track and Trace Hemp products
38:00 Vaping crisis
39:00 Does blockchain have a place in tracking hemp?
40:00 Availability of novel cannabinoids in the market: CBG, CBC, CBN, THCV
43:00 International CBD market will emerge
44:00 How to start considering exporting hemp and cannabis outside of the US
47:00 Upcoming international cannabis conferences
47:30 Insolvencies and bankruptcies in hemp and cannabis industry
50:00 Financial institutions courting hemp industry
52:00 Hemp industry opportunities; high risk, high reward
55:00 Reasons why international market is interested in US-based hemp and cannabis
56:00 How to connect with Rod Kight

About Spectrum Labs

At Spectrum Labs, we source local hemp and extract high-quality Full Spectrum Hemp extracts that even our families can use.

Spectrum Labs can manufacture these full-spectrum hemp extracts:

*Crude
*Distillate
*Tinctures
*Gummies
*Lotions
*Custom formulations

To learn more about Spectrum Labs, visit www.TheSpectrumLabs.com or contact us at (828) 229-7952

Asheville, NC


***If you enjoy the podcast, please consider leaving a short review on Apple Podcasts/iTunes. It takes less than a minute, and it really makes a difference in helping Apple recommend the show to new listeners. I also love reading the reviews!

#5 A Veterinarian’s Experience With Marijuana And Hemp – with Tim Shu, DVM (Podcast) 🐱🐦🐩🐢

Listen on:
Apple Podcast | Spotify | YoutTube

Dr. Tim Shu is the founder and chief executive officer of VETCBD and Dr. Shu’s Pet Care. Dr. Shu founded his companies so pets could safely benefit from the multiple therapeutic uses of cannabis and hemp. By combining his expertise in veterinary medicine with his knowledge of medical cannabis, Dr. Shu formulates cannabinoid products to be safe and effective for use in animals. Prior to starting his companies, Dr. Shu practiced emergency, critical care, and general medicine. His work on cannabis and pets has garnered international attention and has been featured by The Today Show, CNBC, NPR, and The New York Times.

Episode Notes

00:55 Tim’s Background and how he started VETCBD
02:00 Endocannabinoid system
03:30 Why Tim decided to start researching hemp and CBD
05:30 Veterinarians and using cannabis in their practice
07:00 How Tim educates veterinarians about hemp
08:30 Safety and testing hemp and cannabis
12:00 What consumers are looking for
13:30 Why is .3% chosen as the THC limit for hemp
15:00 🐘The elephant in the room regarding .3% and extractions
16:00 Should pets avoid THC?
17:00 How to properly dose animals
19:00 How to tell if an animal is benefiting from hemp and cannabis
21:00 Success stories with animals after using cannabis
24:00 Tim’s thoughts about the hemp market in 2020
26:00 Do we have enough research on cannabis?
30:00 Cannabis and allergies
32:00 Navigating the fast-moving cannabis market
34:00 VETCBD’s four-pronged strategy
38:00 Different cannabis compounds for different animals and different breeds
39:00 Individualized medicine. How far off are we?
42:00 Our rudimentary understanding of the endocannabinoid system
44:00 How to get in touch with Tim Shu

About Spectrum Labs

At Spectrum Labs, we source local hemp and extract high-quality Full Spectrum Hemp extracts that even our families can use.

Spectrum Labs can manufacture these full-spectrum hemp extracts:

*Crude
*Distillate
*Tinctures
*Gummies
*Lotions
*Custom formulations

To learn more about Spectrum Labs, visit

www.TheSpectrumLabs.com or contact us at (828) 229-7952

Asheville, NC

4. The Future of Hemp is International – with Michael Patterson of Cannabis Pharmaceutical (Podcast)

Listen on
Apple Podcast | Spotify | YoutTube

Michael Patterson NHA, OTR/L, CEASMichael Patterson is the CEO of US Cannabis Pharmaceutical Research and Development LLC (US Cannabis), a privately-held developmental consulting firm which was established in 2014 with the mission of moving society forward through legalized cannabis.  US Cannabis develops the legal cannabis/hemp/cbd markets globally across all platforms (education, cultivation, production, dispensing, research and development, management operations and compliance, and physician services).  US Cannabis currently works with national, state, and local governments, sovereign nations, and public/private companies in all aspects of the cannabis/hemp/CBD industry throughout the United States and Internationally.

Mr. Patterson is an internationally recognized speaker, subject matter expert in the global cannabis/hemp/cbd industry, and published author. Michael is a member of the Scientific Advisory Board for Akers Bioscience, a NASDAQ listed biotechnology company, Editorial Board Member for AJEM-American Journal of Endocannabinoid Medicine (the world’s first peer-reviewed printed scientific journal dedicated to the study of endocannabinoid science and medicine). Mr. Patterson is also a board member for the Medical Cannabis Society, Tourette’s Syndrome Awareness Foundation, cannabis/cbd industry writer for Florida MD Magazine, Orlando Medical News, and licensed Occupational Therapist and Nursing Home Administrator in 4 states.

Episode Notes

00:28 Why I got so much out of this conversation
2:37 How Michael answers the question: “What do you do?”
9:50 International trade
10:30 How Michael got into cannabis
20:00 State of the US Hemp/cannabis market
22:00 Cultivators storing for Spring and related issues
23:00 Specialty formulations
25:00 Starting into hemp fiber and non-extraction options
27:00 How to learn from others
29:00 Finding new markets for hemp and CBD
30:00 Consumer perception about what quality means
31:00 Why someone may buy your CBD product / Marketing
34:00 What you should really be selling / Branding
35:00 Netscape example and lessons to today’s cannabis market
36:00 MedMen
37:00 Echoes of history and applications to cannabis / prohibition / alcohol
39:00 Thinking about future uses of hemp. Example, hemp concrete
44:00 International. What should we know?
47:50 Using technology and overseas expansion
50:00 The benefits of attending international conferences
51:30 The art vs science of hemp
55:00 Perception of Michael’s circle of friends and family once he decided to join the cannabis industry
57:00 Networking on LinkedIn
58:00 When and how to get involved in hemp / cannabis
1:00:00 How to propose value to your clients
1:01:00 Michael’s important suggestion to gain knowledge in the hemp industry
1:02:00 The importance of understanding cannabis laws
1:04:00 How long it took Michael to transition into cannabis
1:05:00 Recommended resources: Gary Vee Vaynurchuck (Gary Vee on YouTube, NSFW)
Good to Great: Why Some Companies Make the Leap…And Others Don’t
1:07:00 Michael’s call to action
1:08:08 Jim Carrey
1:10:00 Michael Patterson on LinkedIn

About Spectrum Labs

Spectrum Labs can manufacture these full-spectrum hemp extracts:
*Crude
*Distillate
*Isolate
*Tinctures
*Vapes
*Gummies
*Lotions
*Candies
*Custom formulations

To learn more about Spectrum Labs, visit
www.TheSpectrumLabs.com or contact us at (828) 229-7952
Asheville, NC —

***If you enjoy the podcast, please consider leaving a short review on Apple Podcasts/iTunes. It takes less than a minute, and it really makes a difference in helping Apple recommend the show to new listeners. I also love reading the reviews!

3. Debunking CBD Myths – with CBD Certified’s Anna Symonds (Podcast)

Listen on:

Apple Podcast | Spotify | YouTube

About Anna Symonds

Anna has been in the cannabis industry for four years and is the Director of Education for East Fork Cultivars. For East Fork, Anna developed CBD Certified, a free cannabis science educational program which she has presented for the staff of more than 100 dispensaries across Oregon, as well as for numerous other retailers, industry groups, and the general public. This initiative has directly educated 2500+ people about CBD and cannabis science, and now will reach many more as an online class and on public access TV.
Anna holds an MA in Communication and is a member of the International Cannabinoid Research Society. She continues to educate lawmakers at the local, state, and national levels, lobbying for cannabis legalization, patient access, and removing the barriers to clinical research.

As an Athlete Ambassador for the nonprofit Athletes for Care, Anna speaks widely about the therapeutic benefits of cannabis for elite athletes and everyday people, and promoting normalization of the plant. She spearheaded a petition signed by more than 150 professional athletes asking the World Anti-Doping Agency (WADA) to remove THC from its Prohibited Substances list, receiving national and international news coverage.


Episode Notes

3:00 Anna’s journey into the cannabis industry
5:00 CBD Myths
5:30 Is “Psychoactive” the appropriate term for CBD?
7:20 How does CBD work in our body?
9:45 The medical marvel of the placebo effect
14:45 The Endocannabinoid System (ECS)
17:00 The Entourage Effect
18:20 Cannabis and social justice. How cannabis companies can do what’s right
22:45 The Last Prisoner Project
25:00 Knowledge disparity with consumers and the business community
29:00 What is Rugby?
33:00 Cannabis and athletics, Cannabis for Care
36:00 Inflammation in the human body
38:30 How Anna uses cannabis and hemp to care for her body
39:30 What cannabis companies need to do to appeal to athletes
43:00 How consumers should know which hemp and cannabis products to purchase
46:00 Full spectrum vs isolate CBD
53:45 Hemp seed oil vs CBD oil
59:30 How an individual can begin to dose CBD oil
1:02:00 What is the titration effect?
1:06:00 Where to find sources for CBD and cannabis education
1:08:00 New study doubting Epidiolex; Anna’s thoughts
1:12:00 How to contact Anna


About Spectrum Labs

At Spectrum Labs, we source local hemp and extract high-quality Full Spectrum Hemp extracts that even our families can use.

Spectrum Labs can manufacture these full-spectrum hemp extracts:
*Crude
*Distillate
*Isolate

*Tinctures
*Vapes
*Gummies
*Lotions
*Candies
*Custom formulations

To learn more about Spectrum Labs, visit
www.TheSpectrumLabs.com or contact us at (828) 229-7952
Asheville, NC


***If you enjoy the podcast, please consider leaving a short review on Apple Podcasts/iTunes. It takes less than a minute, and it really makes a difference in helping Apple recommend the show to new listeners. I also love reading the reviews!

2. What the new USDA Hemp Regulations Could Mean for the Cannabis Industry – With Attorney Rod Kight (Podcast)

This was a great conversation with Asheville-based attorney Rod Kight. We speak about Rod’s journey and how he ended up working in the cannabis industry, THC testing, USDA regulations, DEA-regulated labs, how to avoid hemp brokering deals from going sour, what to start working on today to succeed in cannabis tomorrow and much more.


About Rod Kight:

Rod Kight is the principal of Kight Law Office PC, which represents businesses in the cannabis industry, including hemp and CBD, throughout the USA and the world. Rod edits the popular Kight On Cannabis law blog and wrote “Cannabis Business Law-What You Need to Know”, a cannabis law primer for business executives published by Aspatore Books. Rod speaks at national cannabis conferences, drafts cannabis legislation, and is regularly quoted on cannabis matters in the media, including Time, Wall Street Journal, Business Insider, and Business Insurance. He was recently named a “Top 30 Powerful Cannabis Litigator” by MG Magazine and one of the “100 People You Should Know” by Hemp Connoisseur Magazine. Rod testified at the FDA public hearing on cannabis. He writes and sits on the advisory board for the American Journal of Endocannabinoid Medicine, a peer-reviewed publication.

Rod believes strongly in personal and medical cannabis use for many reasons, including that it helped him during chemotherapy treatments for cancer. He is an attorney advocate for NORML, and a member of the International Cannabis Bar Association, the National Cannabis Industry Association, the Hemp Industries Association, the North Carolina Industrial Hemp Association, and the South Carolina Hemp Farmers Association.

Rod is married to his elementary school sweetheart, Ashley. She is also his office manager. They raise 5 children. Rod plays guitar in a rock band. You may contact him by email (rod@cannabusiness.law) or phone (828-255-9881).


About Spectrum Labs
At Spectrum Labs, we source local hemp and extract high-quality Full Spectrum Hemp extracts that even our families can use.

Spectrum Labs can manufacture these full-spectrum hemp extracts:
*Crude
*Distillate
*Isolate

*Tinctures
*Vapes
*Gummies
*Lotions
*Candies
*Custom formulations

To learn more about Spectrum Labs, visit
www.TheSpectrumLabs.com or contact us at (828) 229-7952
Asheville, NC

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Spectrum Labs
2690 Hendersonville Rd
Arden, NC 28704

Contact Us

(828) 229-7952

info@thespectrumlabs.com