My View – A Northstar Blog

November 9, 2022 Cannabis Business

money and cannabis sitting next to a field

Cannabis has changed my life. Without it, I wouldn’t be where I am today. And as a professional, I am grateful that the stigma of having this magical plant as a part of your life is over in many areas of the world. However, the stigma is still present, and with that stigma, the overwhelming rules, regulations, and costs associated just to allow this industry to exist.

My professional experience has allowed me to see behind the scenes of many different organizations from many different industries. From Fortune 500 firms to startups. Being able to provide value through solutions for leaders of these organizations has been the highlight of my career so far. These solutions span from facilitating how organizations find and hire talent, implementing various finance and HR systems, creating and documenting processes and best practices, facilitating change management, and providing fractional financial operations and advisory services. 

All of these parts and functions that happen behind the scenes are critical for any business to run, let alone be profitable.

Northstar functions in a way that allows business owners and operators to not worry about the complexities of the ever-changing world of cannabis, especially as it relates to finance, tax, and HR functions, and to be able to work on their business rather than in their business. Northstar’s team is built of highly-skilled professionals and experts with experience in the Big 4, banking, staffing, technology, and most importantly, Cannabis. 

I mentioned earlier that I have been privileged to see behind the scenes of many organizations and how they operate. I can tell you, that chaos is commonplace, and even more so in this new post-covid world, we find ourselves in. This chaos can cause internal cultural issues, process issues, and staff turnover. In this new post-covid world, there are also more specific people management pieces that business leaders are responsible for. One of the biggest people management items is being able to attract and retain the right talent in this shift to remote work. Remote work is certainly not always an option for some businesses, especially as it relates to Cannabis Operators. 

This remote work dilemma can be difficult to manage, as in some instances it is necessary for staff to be able to see each other face to face or to be able to be hands-on with numerous tasks. If you’re a business owner, do you enjoy dealing with the headache of managing a remote workforce as well as managing an on-site team?  

Clearly, there are successful teams that are able to work remotely performing functions for the business that don’t necessarily require them to be in the office, but there are still challenges – communication, work efficiency, and staff oversight to name a few. I call this out due to the fact that in my opinion, remote work is effective, and here to stay. I’ve personally seen that for most back office functions, there is often more efficient work being completed. 

Why am I talking about this? Because the reality is, there are a lot of cost savings to be obtained, and processes to be made more efficient when you realize that a majority of the work being completed remotely can be completed by a fractional outsourced team. 

The real question is why would you choose to find, hire, manage, and pay the salary, benefits, and employment taxes, for a portion of staff for a function that could be easily outsourced at a fraction of the cost, with the same, and often more output?

If you’ve resonated with this, I encourage you to look at your business functions and see where there are gaps and where you could see immediate cost savings and simplify processes.  Let’s connect and let Northstar show you how we could provide these solutions for you, at the right time, and at the right price.