Cannabis is chaotic by design. Vertical integration forces operators to run six or seven businesses at once — then replicate that model across states with different regulations, all without economies of scale. It’s no wonder the industry feels messy.

The bigger problem? Too many companies are chasing the wrong metrics and ignoring the lessons other industries already learned.

This week we sit down with Mitchell Osak — a veteran strategist across pharma, CPG, financial services, and cannabis — to unpack the hard truths and strategy lessons MSOs can’t afford to miss.

In this episode we cover:
• The wrong metrics driving cannabis off course — and which ones Mitch would track instead
• Why TAM slides are the biggest lie in cannabis strategy
• Which playbooks cannabis should borrow from pharma, wine, and tech

Summary:

In this episode, Bryan Fields and Kellan Finney engage with Mitch Osak, a seasoned consultant in the cannabis industry. They explore Mitch's journey into cannabis consulting, the importance of strategic planning, and the challenges of standardization in the market. The conversation delves into the differences between large operators and middle market firms, the significance of understanding metrics, and the need for innovation. Mitch emphasizes the importance of learning from other industries, the role of AI, and the necessity for scenario planning in navigating the evolving landscape of cannabis. The episode concludes with insights on the future of the industry and the importance of external consultation.

Chapters

00:00 Introduction to the Cannabis Industry and Its Challenges

04:01 Strategic Planning in Cannabis: A Holistic Approach

06:01 Bridging the Gap: Cultivators vs. Financial Stakeholders

09:46 Market Dynamics: The Rise of Middle Market Firms

12:08 The Importance of Strategic Focus in Cannabis

14:01 Understanding Quality and Consumer Insights

18:10 The Role of Data and Metrics in Cannabis Business

22:12 Cost Management vs. Quality Improvement

25:50 Learning from Other Industries: Wine, Fashion, and Tech

30:11 Future Opportunities in the Global Cannabis Market

31:56 Navigating Regulatory Challenges and International Expansion

33:04 The Importance of External Perspectives in Business Strategy

35:32 Understanding Market Dynamics and Total Addressable Market (TAM)

36:24 Opportunities in Distressed Assets and Market Entry

39:10 Evaluating Acquisition Strategies and Asset Valuation

41:27 The Complexity of Due Diligence in Cannabis Investments

44:37 Scenario Planning for Future Industry Changes

47:10 The Role of AI in Strategic Decision-Making

51:25 Data as the Foundation for AI Success

53:01 Preparing for Industry Consolidation and Survival Strategies

Takeaways

Mitch Osak has extensive experience in consulting across various industries, including cannabis.

Strategic planning in cannabis requires a holistic approach, considering multiple factors.

There is a disconnect between cultivators and investors in the cannabis industry.

Standardization in the cannabis market is essential for growth and consistency.

Middle market firms are gaining market share from larger operators due to strategic focus.

Quality improvement should take precedence over merely cutting costs.

External consultation can provide valuable insights for cannabis companies.

Data and metrics are crucial for making informed decisions in the cannabis industry.

AI can be a powerful tool, but it requires quality data to be effective.

The cannabis industry must learn from other sectors to navigate its challenges.

Guest Links

https://www.linkedin.com/in/mitchellosak/
https://mitchellosak.substack.com/
https://x.com/MitchellOsak

Our Links

Bryan Fields on Twitter

Kellan Finney on Twitter

The Dime on Twitter

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Mitchell Osak

Episodes with Mitchell Osak