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Interview with Joe Caltabiano, CEO of Choice Consolidation

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Joseph “Joe” Caltabiano is a respected and important voice in today’s emergent cannabis industry and regularly provides guidance to startups and established companies alike. Uncovering opportunities even during a bear market, Caltabiano draws from his extensive financial expertise in retail, real estate, operations and the regulated cannabis industry. Caltabiano is the Chief Executive Officer of Choice Consolidation Corp., where he is responsible for developing and executing the company’s strategic vision to uncover and advance opportunities within the cannabis market.

Prior to launching Choice, Caltabiano co-founded Cresco Labs, one of North America’s largest vertically integrated cannabis operators. During his tenure, Caltabiano grew Cresco Labs from a startup to a Multi-state Operator with annualized revenue of over $250 million and operations spanning nine states. He was crucial in helping the company expand its footprint into strategic U.S. markets and sourced multiple M&A transactions. Caltabiano guided Cresco through numerous rounds of multimillion-dollar capital raises, including the company’s initial raise. In addition to running all the revenue-generating activities at the company, Caltabiano launched the Sunnyside retail brand and applied its wellness theme to Cresco’s existing dispensaries and their consolidated product offerings. He also led brand building at Cresco Labs, launching the operator’s house of industry-leading brands, including Cresco, Remedi, Reserve, High Supply, Good News and Mindy’s edibles.

As a result of his success, Caltabiano has been in high demand as an expert source of information among media outlets and industry audiences. He has become a guest speaker and a consistent contributor to media outlets such as Vice, Bloomberg, Green Entrepreneur, and Marijuana Business Magazine. In addition, he has been invited to share his insight with several investment industry panels.

Before entering the cannabis industry, Caltabiano served as senior vice president of mortgage banking at Guaranteed Rate, one of the largest mortgage providers in the U.S., where he helped grow a sales division from 20 local members to over 1,000 nationwide. During his time at Guaranteed Rate, Caltabiano personally closed over $2.5 billion in loan volume and was ranked in the top 100 loan officers for ten consecutive years, reaching No. 3 in closed loan volume.

Philanthropy has always been an essential aspect of Caltabiano’s life, especially when it touches a cause near and dear to his heart. After being stricken with and surviving leukemia as a child, he vowed to consistently support organizations and projects that assist people in their fight against cancer. His childhood battle with cancer is also one of the primary motivators for his work in the cannabis industry. As a result, Caltabiano has contributed to the Gateway for Cancer Research, the Imerman Angels cancer support network, St. Jude Children’s Research Hospital, and the Ronald McDonald House. He was voted Man of the Year by the Chicago Leukemia and Lymphoma Society in 2008, and he has raised more than a million dollars for their organization.

To connect further with Joe, receive updates on his career, and receive relevant content pertaining to his industry, visit his LinkedIn page!

Where did the idea for Choice Consolidation come from?

After working in the cannabis industry for several years and helping to create and build Cresco Labs, one of the world’s largest cannabis multi-state operator (MSO), I recognized a wide variety of opportunities where the business could be improved or operations could be managed more efficiently. Using the lessons learned I learned from co-founding Cresco, I wanted to create a new company that could leverage a second-mover advantage to create a best-in-class multi-state operator, and that’s what we are working on doing today at Choice.

What does your typical day look like and how do you make it productive?

It depends on the day, of course, and what might be occurring at any given time in the industry. Most often, my days are spent examining how the longstanding regulated cannabis markets are performing, how new markets are developing, which companies are showing momentum in those markets, and what the politics of the moment are saying about cannabis legislation. I’m typically preparing for or finishing a presentation or speech at an investor or cannabis event, and I am constantly traveling for the next meeting, event or conference. Thankfully, I have a skilled team working with me that helps keep me organized and functioning as best as possible.

How do you bring ideas to life?

Get the right people on the team and empower them to get the job done.

What’s one trend that excites you?

I have been impressed with how single-state operators in the cannabis industry connect with their consumers and build trusting long-term relationships. These local dispensaries are vying for consumer attention amidst a sea of competition. They are using a tried-and-true approach with a relentless focus on their local market, local employees, local culture and most importantly, local patients and consumers. These single-state operators often possess a passion for and commitment to their “hometowns” in a way other operators cannot match. It is a well-established approach that has been utilized successfully for generations of retailers. Yet, larger companies often neglect or ignore this approach in a mistaken attempt to streamline operations. I love what so many cannabis retailers are doing at the hyper-local level and think it is the way of the future for cannabis businesses.

What is one habit of yours that makes you more productive as an entrepreneur?

Reducing the amount of time spent on calls and in meetings has been a great boon to my productivity. The key is to set expectations for every call or meeting and stick to those for each call. For example, if a call can be only 15 minutes long, do not schedule it for an hour. This adds so much time to your day.

What advice would you give your younger self?

Save more money.

Tell us something that’s true that almost nobody agrees with you on.

The New York Yankees is the greatest sports team in the history of all sports – ever.

As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?

I try to find smart people who are experts in their field, and I seek out their opinions.

What is one strategy that has helped you grow your business?

If you surround yourself with intelligent, capable people who amplify your strengths and compensate for your weaknesses, you will be able to grow a business. Of course, it will still require an immense amount of work and a bit of luck as well. But without a well-rounded group of partners, advisors and leaders, your business will not grow.

What is one failure you had as an entrepreneur, and how did you overcome it?

In my early days, when I was about 20 years old, I launched a valet business called Imperial Valet in New York. I thought I had everything buttoned up, but it failed miserably. I learned a lot from that.

What is one business idea that you’re willing to give away to our readers?

I have an idea for an app for physical therapy that I think would do very well. How many people could use this in their everyday life? I think that number is nearly infinite.

What is the best $100 you recently spent? What and why?

I overtip service staff. In essence, I believe that taking care of service staff, from the valet to the bartenders, is always money well spent.

What is one piece of software or a web service that helps you be productive?

Microsoft Outlook. It helps me organize my communication and keeps me from falling behind.

What is the one book that you recommend our community should read and why?

“Failing Forward” by John C. Maxwell made a tremendous impact on my outlook toward work and life. Using failure as a tool to learn and move forward opens up all kinds of possibilities.

What is your favorite quote?

“The way to get started is to quit talking and begin doing.” – Walt Disney

Key Learnings:

  • Surround yourself with intelligent, capable people
  • Do not waste time in meetings
  • Take chances and risks; don’t be afraid to fail, but fail fast
  • Treat people with respect and kindness
Originally published on IdeaMensch.

Interviews

Interview with Sara Sheehan, Founder of Sara Sheehan Consulting

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Interview with Sara Sheehan, Founder of Sara Sheehan Consulting

Sara Sheehan, PCC, is a consultant and Executive Coach who works with C-Level executive leaders in designing organizations, developing business strategies, managing change, optimizing talent and leadership development, and solving complex human performance problems. Through executive coaching, Sara helps leaders sprint their way up the corporate ladder and increase their performance.

During Sara’s 25+ years in business, she has worked with leaders, teams, and organizations in Fortune 100 companies and individuals. Sara specializes in change management, talent and leadership development, executive coaching, and organization design. As a collaborative, results-orientated coach, Sara provides support and practical feedback to help clients effectively navigate change and address business challenges. She also integrates coaching techniques, methods, and approaches to help her clients develop change capabilities and learn to apply them right away. With a servant leadership mindset, she supports her clients in building new skills and customizes frameworks to her client’s project needs. Sara works with clients based on her network, referrals, and appointment.

Sara has been featured both nationally and internationally on podcasts as an expert on topics of change management, talent and leadership development, executive coaching, and organization design.

Where did the idea for your career come from?

The idea for Sara Sheehan Consulting is based on almost 30 years in management consulting and executive coaching. Through business consulting, I help businesses through complex business transformations from a human capital perspective. Through executive coaching, I help busy executives sprint their way up the corporate ladder by setting goals, increasing their performance, resolving conflict, and setting up an advisory team so they are even more successful in their current role or their next one if they are in transition.

What does your typical day look like and how do you make it productive?

It’s a combination of time blocking for specific purposes like business development, market research conversations, reaching out to ideal clients or close contacts that can refer me to ideal clients, scheduled current client meetings, a wide variety of marketing activities, and time for things that feed me like exercise, cooking, or other interests like spending time with friends and family. I am innately extremely productive so when I am at my best I am in a positive flow.

How do you bring ideas to life?

I have a lot of creative ideas so bringing them to life is not a chore. Typically, writing is the first step to bringing new ideas to life, then it may spread across my marketing mix into videos, presentations, new offerings, or marketing research conversations to test market viability. Once an idea has filtered through these touchpoints, I am able to put more structure around it. Two ideas that I am formalizing right now: a paid membership community on Mighty Networks called The Center for Change Leadership and a chapter in a collaborative book.

What’s one trend that excites you?

I love progression and innovation in technology that helps us be more productive at the least possible cost. To provide a little more context, I love the current trend in software that allows users to get started on a web platform at a low cost and you can increase your plan as you need to if the services fit your needs. These pay-as-you-go plans and the ability to play with new tools are fantastic. Specifically, I have a project team that uses Monday.com and it serves as a tremendous productivity hack.

What is one habit of yours that makes you more productive as an entrepreneur?

I know that I am not supposed to do everything, nor should I if I want to scale a successful business. To this end, I am working with the best expert vendors that are aligned with me to amplify my business and my message.

What advice would you give your younger self?

The advice I would give my younger self is that it’s ok to start thinking about how you want to use your craft as an entrepreneur. I’d express to younger me that thinking about offerings and solutions that can be commercialized is going to benefit you. You can start planning now, frame it up, and test your assumptions in market research conversations. You may find that it manifests differently than you expect and that it’s important to be open to the gifts it brings.

Tell us something that’s true that almost nobody agrees with you on.

One of the offerings I have done a lot of market research conversations on is my Mastering Change Management Course. The course can be delivered live via Zoom to a cohort or through self-study via Kajabi. I have had no opposition to the course to date, and I have also not found the right pilot group yet. Based on the conversations I have had, the right pilot group is out there! I understand that this is such a different way to deliver consulting work that people may not be open to it just yet. People that disagree with my approach are more likely to engage a consultant based on the project timeline, although this option will require more time with the client and be more costly. The differentiator for the course is that I am seeking qualified education provider status with the Association of Change Management Professionals so that anyone that takes the course could apply the credits toward the Certified Change Management Professional (CCMP) exam or credential renewals.

As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?

The one thing I would do time and time again would be market research conversations on programs, solutions, and offerings. This is the best way to validate that a new offering is viable in the market, and it provides opportunities to uncover ideal clients or get referred to your ideal clients.

What is one strategy that has helped you grow your business?

One strategy that has helped me grow my business significantly has been increasing my visibility through engaging a professional marketing agency and a publicist. I was already active on LinkedIn through posting, writing, and videos weekly, however, engaging a marketing agency to support me has allowed me to get strategic in planning on a quarterly basis, as well as executing a broader plan. They also created my branding and collaborated on my website design so everything I produce visually supports my message and purpose. Engaging a publicist that I am aligned with has magically connected me with the right opportunities for increased visibility. Both my marketing team and my publicist are trusted advisors and I am looking forward to seeing how these advisors will continue to grow my business.

What is one failure you had as an entrepreneur, and how did you overcome it?

It took me longer to attract my ideal client than I’d hoped since I spent so many years working for other firms. It’s not surprising or unexpected, it’s just a fact that it takes time to be known for your expertise. Additionally, I should have engaged a marketing agency and publicist sooner than I did on both fronts. To be honest, it took a little bit of time to come into contact with the right people to work with. I also think the patience and time allowed me to work on my own mindset which is invaluable.

What is one business idea that you’re willing to give away to our readers?

When I see questions like this one I immediately think of Peanuts, Lucy, and Charlie Brown at an advice booth with a sign that reads “Advice 5 Cents” with a dixie cup next to it. What’s the quickest way to start a business that can serve a wide customer base? Marketing and business development are two things that every entrepreneur needs to focus on to scale. If you can fit in that space and speak directly to the pain points of a differentiated ideal client, things should manifest fairly quickly.

What is the best $100 you recently spent? What and why?

Definitely reconnecting with friends, family, and clients over a shared meal. You can’t replace being in person and truly connecting with others following such an isolating two-year period.

What is one piece of software or a web service that helps you be productive?

The top three online tools and resources that I am currently using to grow my business are Google Workspace, Slack, QBO, and Quickbooks Online. All three tools make work easy, support me in what I am doing, streamline all of my efforts, and keep me focused on what’s most important.

What is the one book that you recommend our community should read and why?

Building a Story Brand by Donald Miller: I believe the Story Brand is absolutely essential for entrepreneurs to incorporate as they build their business.

What is your favorite quote?

I have so many favorite quotes! Here’s one that is on my mind and heart right now: “Before you are a leader, success is all about growing yourself. When you become a leader, success is all about growing others.” Jack Welch

Key Learnings:

  • If you want to grow and/or scale your business, it’s important to know that you can’t do everything alone
  • Working with the best expert vendors that are aligned with you and your business will amplify your business and message
  • Strategic partner progression and the right innovation in technology can help entrepreneurs and businesses be more productive at the least possible cost
Originally published on IdeaMensch.
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Interviews

Interview with Blake Kohler, CEO of Pulse For Good

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Interview with Blake Kohler, CEO of Pulse For Good

Blake is passionate about, well, everything! As the CEO of Pulse For Good, he uses that passion to help nonprofits worldwide gather feedback from vulnerable individuals more effectively. With his background in technology, Blake is helping to bring business-class survey tooling to organizations ran on shoe-string budgets.

As someone who likes to talk, he knows how hard it can be to listen, and along with the Pulse For Good team, he’s working towards building a more empathetic future.

Where did the idea for Pulse For Good come from?

Pulse For Good emerged from an early pilot of a partnership with the city of Seattle. The various city offices were trying to figure out how best to facilitate gathering feedback from the youth homeless population in Seattle, and our early solution, which was designed to gather employee feedback, was suggested. We quickly found that traditional survey methods left a lot to be desired when gathering feedback from vulnerable populations and set out to build something that better fits the unique concerns of serving vulnerable groups.

What does your typical day look like and how do you make it productive?

As a small startup, our typical days are full of adventure. Some days are dedicated to sales, other days we spend doing support, some days we are working on marketing, and other days we’re trying to improve our operations.

We find that using an agile model works well for our team. We utilize Kanban boards and team standups to keep track of everything from development tasks to customer onboarding.

How do you bring ideas to life?

As a team, we tend to be very visual-focused, so often, our ideas begin to emerge onto whiteboards before they become something a little more tangible.

Once they’ve been thoroughly debated and diagramed on a whiteboard, they make it onto one of our tasks on our kanban boards.

What’s one trend that excites you?

Our team is excited about the combination of technology and social impact. More groups are looking to do good in the world instead of maximizing profit. It is fantastic to see people use their time and talents to help those around them.

What is one habit of yours that makes you more productive as an entrepreneur?

One of our core values is a default to action, which has proven time and time again to be the primary driver of our productivity. Too often, we spend hours debating something, and nothing gets done. By defaulting to act, we might at times cause some headaches, but those headaches are often quickly fixed, and the value we gain from the constant action greatly diminishes any headaches we’ve created.

What advice would you give your younger self?

Spend less time worrying about what others think of you and more time worrying about how you think of others.

Tell us something that’s true that almost nobody agrees with you on.

Pain can be good for you. It’s a form of feedback, and the more you experience it, the more opportunities you have to make a change.

As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?

We’ve had tremendous success posting on Linkedin. We try and do it every day, and it’s been an incredibly valuable part of our growth.

What is one strategy that has helped you grow your business?

Very early on, we developed an advisory board of industry experts. This helped us gain a considerable amount of credibility and allowed us to develop tools, relationships, and techniques far beyond our abilities as just a founding team.

What is one failure you had as an entrepreneur, and how did you overcome it?

One failure we had coming out of the pandemic was a communication breakdown amongst our founding team. Previously, we had conducted in-person meetings, but with the world changing, we switched to a more remote first attitude. Over time, our perceptions and goals changed without getting together.

We had to have some serious heart-to-heart conversations and institute more formality in our processes to help bridge the gaps that this lack of communication caused us.

What is one business idea that you’re willing to give away to our readers?

We’ve always thought there would be an opportunity for a crowd-sourced travel agency. We believe you could utilize people’s passion for planning vacations and natural competitiveness to offer tailored vacation plans to the masses without the expense of full-time travel agents.

What is the best $100 you recently spent? What and why?

We recently conducted a series of case studies with our customers, and we paid each person who participated $100. These case studies are invaluable to us, and it is one thing for us to share how our system can help an organization. It’s entirely different for a peer of those organizations to share how we help. Case studies are worth their weight in gold.

What is one piece of software or a web service that helps you be productive?

Slack – we use it for all of our communication, and as a remote team, it helps us all stay connected and on the same page.

What is the one book that you recommend our community should read and why?

The Outward Mindset – changing the way we think and feel about others helps all aspects of your life

What is your favorite quote?

“Listening is the first act of love.” – Paul Tilch

Key Learnings:

  • Defaulting towards action drives productivity
  • Pain can be good for you
  • The best $100 spent is the one that makes your next $1000
Originally published on IdeaMensch.
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Interviews

Interview with Dayana Doncheva, Founder of EcardForest Group Ecards

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Interview with Dayana Doncheva, Founder of EcardForest Group Ecards

Dayana Doncheva is the founder of EcardForest Group Ecards – a company for greeting cards that can be signed by many people online and sent digitally. Their ecard collection includes all key occasions and features birthday, farewell, baby, wedding and many more cards. EcardForest is highly invested in environmental protection and engages in tree planting around the world.

Where did the idea for EcardForest come from?

EcardForest was inspired by a personal use case. I was about to organize a leaving card for my colleague in early 2021 and looked for options online that would allow group signing so that the full team can share their goodbye wishes. I didn’t like the available options and realized that this could be a business idea. After doing my research and checking the competitors, I embraced my entrepreneurial spirit and thought I can give it a go.

What does your typical day look like and how do you make it productive?

There is not a typical-day concept for us yet. We are growing fast and our routine changes very quickly, allowing us to navigate between new feature integrations, the creation and release of new greeting card designs, as well as support tasks. Of course, every team member has devoted tasks, but we work in an agile setup and adapt quickly based on the priorities.

How do you bring ideas to life?

The process is quite funny actually. We dare to dream and think out of the box. Most of our ideas come to life as funny suggestions. If some of those suggestions still keep us wondering a couple of days later, we put them to a sense-check and see what comes out. We do proper research and talk to a couple of external people to verify the idea before putting it into our backlog.

As a next step, we deep dive into the execution. Once we launch a new feature on EcardForest.com we make sure to monitor it closely. Is everything fine? Does it work as expected? Does it generate added value for our consumers and us? If not, we remove it.

What’s one trend that excites you?

Hybrid working. Naturally, that drives our business since our online greeting cards experience higher demand when people around the globe work in a hybrid setup.

Hybrid working is an interesting trend to us in general too. We experienced first-hand how easy working in a global model could be. Our team is spread around Europe and when needed we involve freelancers from around the world, which allows us to work with the best talents no matter the location.

What is one habit of yours that makes you more productive as an entrepreneur?

People often tell me that I appear to be very well organized. In fact, I am not, and I enjoy the creative mess to the fullest. It nurtures my imagination. It’s contra intuitive but working in a messy environment has proven to help me become more productive in the long run.

If I need to focus on a bigger analytical task though, I try to get a fresh mind by going on a short walk before I start. That helps a great deal.

What advice would you give your younger self?

Be braver! Today, I love to challenge myself, even though I know that some things won’t work out. I take it as a learning and grow from there. But a couple of years ago I was still quite hesitant and tended to lean towards safe bets.

Looking back, I am not sure when I changed to become braver, but I can’t help but wonder where I would have been today if I would have done it earlier.

Tell us something that’s true that almost nobody agrees with you on.

There is always more to learn. The schedule of an entrepreneur is usually terribly busy and that’s no different in the corporate world. Often times people feel quite comfortable after completing a task or a project and turning a new page to handle the next one. I see great value in reviewing decisions and processes based on new learnings. In my mind, the “good enough” solution can always become a better one, powered up by new learnings.

As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?

Do research. I trust in data and have learned to appreciate its value a lot. Doing your research not only saves a lot of potentially unnecessary work but also helps you focus on what’s important.

What is one strategy that has helped you grow your business?

Investing in advertising has certainly helped us grow EcardForest. We make sure to capture the available demand as much as possible.

When starting a business, thinking about advertising costs might be scary but advertising is usually what kickstarts your business, once the product is ready. Being brave, spending some money but also monitoring the success closely can go a long way.

What is one failure you had as an entrepreneur, and how did you overcome it?

Before starting EcardForest I was working on another startup. It was focused on financial investment data and most importantly it was a B2B product. That turned out to be incredibly hard to market and required a lot of sales and support efforts. Soon afterward I discovered that the idea was not worth the effort, and it was not going to work out as expected.

I learned two valuable lessons: First, bringing a B2C product to life is easier. Second, holding on to an unsuccessful business idea for too long doesn’t bring you anywhere.

What is one business idea that you’re willing to give away to our readers?

Circular economy products. I am a big fan of renting and reselling and it’s great for the environment. This is applicable to so many product types – from tools to equipment, mobility, etc. Just find a new niche.

What is the best $100 you recently spent? What and why?

As part of our sustainability efforts, we donate some of our revenue to tree planting organizations around the globe. Just recently we onboarded a new partner – Ecologi that allows us to not only plant trees but also offset carbon emissions by contributing to additional projects like wind power development.

What is one piece of software or a web service that helps you be productive?

We use Github for our backlog and task management. The project section is a perfect solution for agile teams like ours and keeps us focused on important and urgent tasks. It certainly increases our productivity, and I can’t recommend that enough.

What is the one book that you recommend our community should read and why?

Refactoring UI by Adam Wathan and Steve Schoger is a great resource for any digital business or any website for that matter. It provides an understanding and best practices of website design, UI, colors, fonts, visual hierarchies, etc.

What is your favorite quote?

A single tree doesn’t make a forest. I just came up with that one, but the key message is that even the best entrepreneur or the most knowledgeable person can only go so far on their own. Building a strong team around you is what will bring you further.

Key Learnings:

  • First, do your research before you invest too much time and resources in an idea
  • Be open to exploring and learning more
  • Invest in bringing a strong team together to drive your idea further
Originally published on IdeaMensch.
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