Marijuana Business Magazine October 2018

FROM THE CEO'S DESK T his issue of Marijuana Business Magazine focuses on extraction. In these pages, you’ll learn about the latest extraction techniques, the costs of setting up your extraction facility and the methods that produce the best results. After all, extraction is at the root of all infused cannabis products, and it’s the fastest-growing segment for both recreational cannabis users and medical marijuana patients. I am not an extractor – my business does not touch the plant at all. Yet the concepts behind world-class extraction solutions hold true in the work I do every day leading my business. I’m constantly analyzing: What are the best elements of this complex organism called a company? How can I tease out a little more of those elements? Who are the most effective discrete com- ponents of my staff, and how can I better enable them to provide more of what they do best? And critically: How can I optimize the entourage effect among my team? We all come from different backgrounds and bring different skill sets – much like THC and CBD produce differ- ent medical and recreational effects. Yet, similar to how we’ve come to understand that these two critical components of cannabis work together, a team works best when it has the right amounts of talent, skill set and personality blended together to address specific conditions. The industry segment of extraction is an important financial underpinning of the entire cannabis business landscape. Flower prices continue to fall, competition is strengthening, regulations abound and consumer and patient preferences are becoming more sophisticated. Perfecting and advancing extraction technologies and processes is a core business function that is quickly becoming required for many businesses. Likewise, no matter what segment of the industry you’re in, extracting the best from your business will maximize your chances to survive – and hopefully even thrive. All the best, Cassandra Farrington President & CEO, MJBizDaily P.S. Look for the first-ever comprehensive report on the hemp industry from MJBizDaily ’s sister site, Hemp Industry Daily , available Oct. 3. Get your free executive summary of the Hemp Industry Factbook at mjbizfactbook.com/ hemp. Order the full report before Oct. 18, using the code “MJBizMag,” and receive $50 off your order. Extracting the Best From Your Business 8 • Marijuana Business Magazine • October 2018