One of the black box mysteries I am often asked about is valuation of a company during an investment. As I've been preparing for a presentation I’m giving at the MJBizInt’l conference in Toronto next month, I’ve been thinking about a common aspect of the debate - the importance of revenues.
The Marine Corps has a saying that goes something like this – it’s more important to make a decision at the right time than it is to make the right decision. The reason for this is simply that the pace of military operations requires decisions to be made quickly despite uncertainty. Delaying, even for what seems like a good reason, is more problematic than making an incorrect decision. Investing decisions are also more sensitive to time than to being right or wrong. In other words, it’s better to be in a bull market than to miss it because you couldn’t make a decision on where to invest.
Can't say enough about the quality of Nick's work with the Full Ratchet podcast (website, iTunes). Driving from Boulder to Aspen and back down was made infinitely more interesting when I discovered the podcast and hammered through a dozen episodes. Learned some new stuff, reminded of some old stuff, and enjoyed the professional, thoughtful, and disciplined approach.
The perfect business pitch is as elusive as perfect pitch in general - but you should always try for it!
Good conversation today with an entrepreneur looking to get into the cannabis industry with a new startup. The first question of the conversation was one we receive a lot so let me take a few moments to post a public answer.