extrakTALKS with Dr. Jon Dr. Jon

When you are planning to build a startup in the extraction industry, understanding your finances inside and out is essential. Mapping out the plans for your business in terms of your uniqueness in the industry and capitalizing on those specialties can mean a financially successful operation before you even hit the ground, but without a financial model to guide you along the way, you can get lost very quickly. 
This is why building a financial model is vital in terms of building your startup and appealing to potential investors as you grow your business. In this episode of extrakTALKS, Dr. Jon discusses how to create a financial model in the extraction industry. This episode goes into detail about the basic elements of building a business plan, creating an investor pitch presentation, determining what makes you unique in the industry and capitalizing on it and much more.  Listen in to understand the real benefits of creating a business plan and using it to be more successful as you build your business.

When it comes to creating a successful startup in the hemp and cannabis extraction industry, investor interest is key to hit the ground running. Moreover, it is a critical part of maintaining success throughout your growth in the industry. This means that appealing to potential investors is invaluable and could mean the difference between take off and crash landing in your new endeavor into extraction.
In order to appeal to investors, you have to understand what they are looking for in your pitch.

Startups need to know the ins and outs of their business.  Are you able to answer these key questions.
Why should investors invest in you?You need to articulate what you are doing? and why are you doing it? In order to get investors, you need to be the expert and know your numbers.Give your investor and customer what they need:
Educate: Need to know the process details, costs, risks, formulas, recipes, documentation, qualityReduce: Reduce confusion over conflicting information form vendorsClarify: Clarify recommendations from consultantsCost: obtain highest value at lowest costQuality: Have equipment produce the highest quality and flexible oil optionsCompliance: Help navigating compliancyExperience: Need someone with experience to put it all togetherKeep the company management and ownership small
Know your 3 year picture of where you want the company to go. Fill out the Entrepreneurial Operating System (EOS) to get the bigger picture.

So, you’ve decided to create your first hemp or botanical startup. You’ve planned out your location, what products you will make, what solvent you will use for extraction, and more. You have it all figured out! Or do you… What about your potential investors? Do you know how you'll pitch your business plan to them? This is a crucial step that many startups fail to properly employ causing significant difficulty when attempting to create partnerships, and establish investors. If you have yet to consider this vital step in your new or upcoming venture, you need to listen up to this week’s episode. 
In this week’s episode of extrakTALKS, Dr. Jon and Randall Thompson discuss the best possible ways to pitch your hemp or botanical business plan. There are several key factors that you need to take into consideration when deciding to pitch your business plan: 
The best practices for having a successful pitch of your idea or plan to investors Bringing in friends and family to your business venture Successfully pitching to an investment group and Making sure your plan stands out in a competitive market AND making that plan a success. Listen up and pay close attention if you want to make sure your investment opportunities are successful and that your overall business plan will bring you to revenue in the long term. 

In this episode of exrakTALKS, Dr. Jon continues to talk about the value of a kaizen approach to operational excellence in your business. Listen in as Dr. Jon discusses the “lean principles” and you can drive efficiency, lower costs, and reach your potential.

In this episode of extrakTALKS, Dr. Jon talks about the importance of operational excellence in your business. It's all about driving efficiency so you can lower your costs and reach your full potential.