Dan Sutton: You Need to Think Long-Term in the Cannabis Industry

February 14, 2020
Melissa Schiller

Dan Sutton is the CEO and Founder of Tantalus Labs, and has been building the company since inception in 2012. He is a TED Speaker, Top 40 Under 40 honouree, and has helped develop thriving startups in Corporate Finance roles for companies in tech, mining, and innovation industries.

Dan Sutton Cannabis Conference
Sutton
 

Cannabis Conference Senior Digital Editor Melissa Schiller spoke with him about his panel at the show this year, "Monitoring and Improving Company Performance and Capital." He will also be joining the Deal-Making Summit on April 22.

Read the full interview with Dan Sutton here

Cannabis Conference: What do you hope attendees will bring back to their business from your session at Cannabis Conference 2020?

Dan Sutton: I hope that I can be a voice that reminds everyone that business fundamentals are the core of this game. Love for cannabis, love for the marketplace, love for your customer—all of these things serve your ability to create a consistently profitable enterprise and consistently profitable outcomes for your shareholders, and this isn’t a marketplace where we need to shoot the moon. You can just slowly but surely add value to your offerings and hopefully exceed the expectations of your end user. At the end of the day, we have to make successful businesses if we want to see these dreams persist.

[Come] back to, how many people do you really need on your team? How much marketing spend do you really need in your first year? These kinds of questions have historically been answered by cannabis companies with huge investments and a massive vision that’s played out on a short-term time horizon. I think a return to fundamentals [and] a return to basic business principles [are needed.] We want to satisfy customers time and again, and that means oftentimes taking it slowly and being prudent.

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