The Dime Strategy Truths & Lies, Mature Industries Already Know ft. Mitchell Osak
Cannabis is chaotic by design. Vertical integration forces operators to run six or seven businesses at once — then replicate that model across states with different regulations, all without economies of scale. It’s no wonder the industry feels messy.
The bigger problem? Too many companies are chasing the wrong metrics and ignoring the lessons other industries already learned.
This week we sit down with Mitchell Osak — a veteran strategist across pharma, CPG, financial services, and cannabis — to unpack the hard truths and strategy lessons MSOs can’t afford to miss.
In this episode we cover:
• The wrong metrics driving cannabis off course — and which ones Mitch would track instead
• Why TAM slides are the biggest lie in cannabis strategy
• Which playbooks cannabis should borrow from pharma, wine, and tech
Summary:
In this episode, Bryan Fields and Kellan Finney engage with Mitch Osak, a seasoned consultant in the cannabis industry. They explore Mitch's journey into cannabis consulting, the importance of strategic planning, and the challenges of standardization in the market. The conversation delves into the differences between large operators and middle market firms, the significance of understanding metrics, and the need for innovation. Mitch emphasizes the importance of learning from other industries, the role of AI, and the necessity for scenario planning in navigating the evolving landscape of cannabis. The episode concludes with insights on the future of the industry and the importance of external consultation.
Chapters
00:00 Introduction to the Cannabis Industry and Its Challenges
04:01 Strategic Planning in Cannabis: A Holistic Approach
06:01 Bridging the Gap: Cultivators vs. Financial Stakeholders
09:46 Market Dynamics: The Rise of Middle Market Firms
12:08 The Importance of Strategic Focus in Cannabis
14:01 Understanding Quality and Consumer Insights
18:10 The Role of Data and Metrics in Cannabis Business
22:12 Cost Management vs. Quality Improvement
25:50 Learning from Other Industries: Wine, Fashion, and Tech
30:11 Future Opportunities in the Global Cannabis Market
31:56 Navigating Regulatory Challenges and International Expansion
33:04 The Importance of External Perspectives in Business Strategy
35:32 Understanding Market Dynamics and Total Addressable Market (TAM)
36:24 Opportunities in Distressed Assets and Market Entry
39:10 Evaluating Acquisition Strategies and Asset Valuation
41:27 The Complexity of Due Diligence in Cannabis Investments
44:37 Scenario Planning for Future Industry Changes
47:10 The Role of AI in Strategic Decision-Making
51:25 Data as the Foundation for AI Success
53:01 Preparing for Industry Consolidation and Survival Strategies
Takeaways
Mitch Osak has extensive experience in consulting across various industries, including cannabis.
Strategic planning in cannabis requires a holistic approach, considering multiple factors.
There is a disconnect between cultivators and investors in the cannabis industry.
Standardization in the cannabis market is essential for growth and consistency.
Middle market firms are gaining market share from larger operators due to strategic focus.
Quality improvement should take precedence over merely cutting costs.
External consultation can provide valuable insights for cannabis companies.
Data and metrics are crucial for making informed decisions in the cannabis industry.
AI can be a powerful tool, but it requires quality data to be effective.
The cannabis industry must learn from other sectors to navigate its challenges.
Guest Links
- https://www.linkedin.com/in/mitchellosak/
- https://mitchellosak.substack.com/
- https://x.com/MitchellOsak
Our Links
Extraction Teams: Want to cut costs and get more out of every run? Unlock hidden revenue by extracting more from the same input—with Newton Insights.
At Eighth Revolution (8th Rev), we provide services from capital to cannabinoid and everything in between in the cannabinoid industry.
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