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When it comes to growing any business, balance and scale are key. This week, Robert Beasley, CEO of Fluent, joins the Cannabis Equipment News podcast to discuss how he saved the company from "imminent collapse."
Beasley came to the cannabis industry with a background in commercial law and real estate. He became involved in cannabis-related legislative initiatives in Florida and started working on regulatory process. He worked as a consultant, particularly for license winners who were suddenly struck with the prospect of becoming an operating company in a new market.
In January 2020, he joined Fluent, a company that had become spread too thin during the "green rush" with disparate passion projects that weren't profitable or sustainable. Beasley managed to grow the company through contraction — by cutting most of Fluent's dead weight, including a "trainwreck in Puerto Rico," a grow in Michigan, and interests in other international markets. After the cuts, he focused his attention on the company's business in Florida.
Fluent is now the fastest growing cannabis company in the Sunshine State, and it has potential opportunities to grow in Pennsylvania and Texas.
In this episode, Beasley discusses:
- How he saved Fluent from "imminent collapse."
- The supply chain problems he had to fix to make it happen.
- His growth-by-contraction strategy.
- The holes he found in the Florida market, and how he exploited them.
- The advantages of operating in states that have only legalized medical use
Please make sure to like, subscribe and share the podcast. You could also help us out by giving the podcast a positive review. Finally, to email the podcast or suggest a potential guest, you can reach David Mantey at [email protected].