Navigating the Rollercoaster: Insights into Cannabis Compliance and Avoiding Burnout

 

All too often cannabis operators are drowning in overwhelm, completely buried in completing tasks, working on the business while working in it, and the onslaught of cannabis regulations they’re expected to stay on top of and navigate on a daily basis. An issue that seems to plague many cannabis operators is total business burnout. 

The Cannabis Compliance Conundrum

Cannabis compliance is a topic that can't be ignored, especially for operators in this dynamic industry. Burnout is a reality not just for those in cannabis but for many business owners. It’s normal for business owners to get overwhelmed and burned out, however add a few other layers like federally illegal, high taxes, lack of capital funding and access to all banks like a normal business would have and overregulation just compresses the pile on for cannabis operators, especially small business models. Working in the cannabis industry is not for the faint hearted by any means. 

Recognizing Burnout: What It Feels Like

Burnout isn't just about being tired. It manifests as complete mental, physical, and emotional exhaustion. Even minor business tasks become overly taxing, akin to the sound of nails on a chalkboard for some. When a cannabis operator feels like they're drowning, it can be challenging to keep up and all they can do is enough to just survive, and everything else falls to the waist side. 

Top 10 Reasons Cannabis Operators Feel Burned Out:

  1. Loss of Passion: The initial joy and drive can wane, making business operations feel burdensome.
  2. Monetary Motivation: Simply doing it for the money without deeper reasons can fast-track burnout.
  3. Lack of a 'Why': Knowing why you're in the business can anchor you through the challenges.
  4. Commitment Issues: A lack of dedication to responsibilities can lead to exhaustion.
  5. Disconnected 'Why': Losing sight of your business's purpose can be detrimental.
  6. Overwhelm and Lack of Systems: Chaos from improper systems can cause severe stress and overall breakdown of the business.
  7. Negative Mindset: Being a victim to the regulations, and everyone is out to get me mentality fosters a defeatist attitude.
  8. Inability to Adapt: The rapid changes in the cannabis industry require flexibility and openness.
  9. Cutting Corners: Shortcuts can lead to piled-up issues and ultimately, crisis.
  10. Firefighting Mode: Constantly only solving problems instead of forward planning is draining.

Combatting Burnout: Strategies for Resilience

Burnout is a signal that self-care and business care are being neglected. Here are a few steps a cannabis operator can do to build the resilience needed to run a regulated operation:

  • Be Proactive, Not Reactive: Stay ahead of potential issues with regular audits and strategy updates. Preventing problems is less stressful than responding to them.
  • Define and Commit to Your 'Why’ : Regularly revisit your reasons for being in the industry. It’s essential to ground your activities and intentions with a purposeful mission.
  • Establish a Compliance Program: Managing all facets of compliance through dedicated systems is vital. Place each aspect of your business into distinct "buckets" for easier management.
  • Build a Support Network: Ensure you have a robust team and external advisors if needed. Regular communication with your team and maintaining positive vendor relationships is key.
  • Know Where You’re At: Regular inventory checks and business audits keep you informed. Truly knowing your business is crucial for navigating complexities.
  • Normalize and Manage Overwhelm: Accept that feeling overwhelmed is normal and don't be hard on yourself. Recognize it as part of the journey, and use it to refine your strategies and systems.

A Word of Encouragement

Recommitment and adaptation are parts of the entrepreneurial path, especially within the regulated cannabis industry. It's crucial to remember that challenges like these aren't unique to you; they're a shared reality experienced by many cannabis operators. Stay resilient, proactive, and above all, keeping getting back up and keep recommitting. As you navigate your maverick cannabis journey, remember to stay connected to the reason you’re doing this and the unprecedented adventure it offers.

ICS Consulting specializes in Compliance based services, such as Third-Party State Regulatory Audits, State and Local License Application Support, Technical Writing, Standard Operating Procedures Development, Worker Safety, QMS, OSHA Compliance, Metrc Seed-to-Sale Support, Compliance Operations Training, Employee Retention Solutions, and Employee Onboarding. For more information on how ICS Consulting Service can help your Cannabis Business, book a 30-minute discovery call and we'll help you map out your next steps to be successful in the Regulated Cannabis Industry.