Cannabis Start-up Advice: Hiring the Smart Way

Oct 29, 2019 | Cannabis Business

Smart hiring is not only a good business practice, it’s a necessity. And for a start-up cannabis business, in particular, hiring the right way is critical. With obstacles such as raising capital, staying current with state laws, countless regulations to abide by, and complicated tax compliance, a cannabis business has a lot to focus on. 

Needless to say, a cannabis business can’t afford to have a sub-par team of employees working for them. On the same token, hiring is difficult – all the more reason to take this responsibility seriously. We, at Northstar, have some tips to help make hiring less stressful.

First, having a blend of personalities on your team could make a world of difference in your company’s performance, innovation, and success. Below are some personalities to consider when vetting through your candidates.  

 

Target Your Search Based on Personality Type

  • Creative thinkers: This personality type generates a lot of great ideas and is an exceptional problem solver.
  • Top-performers: This personality type is able to quickly and skillfully execute on ideas. They are an expert in a given field and deliver prolific results.
  • Salesperson: This personality type has unshakable confidence and excellent communication skills. They are charismatic and know how to put their ego in check.
  • People pleaser: This personality type is personable and has outstanding customer service skills. They often put the needs of the company, the team, and the customer first.  

When conducting interviews, try to keep these four personalities in mind, and consider hiring a healthy mix of each type. This way, you’ll improve your chances of building a strong, proficient, capable team.  

Another recommendation we have is to seek outside guidance from a professional who specializes in human behavior. This could be a business or life coach, or a psychologist. They could evaluate your strongest candidates and assess whether they could be a good fit for your company’s mission and vision.

Besides focusing on the personality make-up of your team, think about some intangible factors as well. Some important ones are mutual trust, confidence, and faith in one’s abilities. Finding employees with these attributes can lead to more fluid and honest communication while putting ego-related conflict aside. 

Furthermore, look for people who aren’t afraid to become a leader in their realm of expertise. Allowing independence and open-communication to flow can help employees achieve their full potential.  

 

Other Reasons Why Smart Hiring Matters

Hiring the smart way is critical to your brand. First hires hold a more significant place in a start-up company than say, an established business. From the very first hour they log, your employee is helping to build your brand. 

Other traits to give special attention to include positive energy, optimism, ambition, team players, and passionate supporters of the company’s mission. 

These traits can signify that an employee wants to go the extra mile and help take the company from humble beginnings to a major player in the cannabis space. 

Final Considerations 

 Here are some of our final suggestions:

  • Save money by developing an innovative and efficient supply chain. This can include leveraging existing infrastructure.  
  • Hire virtual employees. Because good talent exists everywhere, not just the city in which your business is based. For a cannabis business, you could hire a virtual bookkeeper, financial advisor, web developer, content writer, graphic designer, etc. 
  • Prioritise candidates who understand your business. Especially if you are in the cannabis business, which is subject to many unique laws, it is important to hire a financial advisor who specializes in cannabis and tax code 280E.
  • And finally, hire slowly! One way to fail off the bat is to make terrible hiring decisions. Only hire the best and brightest, even if this takes a considerable amount of time. 

 For more hiring tips, or financial and tax advice from cannabis experts, you can contact Northstar at 424.274.3188 or info@nstarfinance.com.  

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