OBJECTIVE vs. SUBJECTIVE SOP’s
I have a had a few reminders this week around objective SOP’s based on facts and evidence.
Verses subjective SOP’s based on opinions and personal perspectives.
When it comes to understanding the credit worthiness of company is a fairly objective SOP and thus repeatable. It is not a subjective SOP based on the personal feelings towards the company.
When it comes to #Raising #Capital it is a fairly objective SOP, and thus repeatable. It is not a subjective SOP based on the personal preferences of the founders/ownership group.
That is why professionals like David Cunic of UCS Advisors, and many others, exist.
Because they have a tested and repeatable process for supporting the capital raise needs of cannabis companies.
So as more and more cannabis businesses are created as new AU markets open up.
They will need good #Finance Professionals to help them understand the objective SOP’s for Raising Capital.
Those SOP’s for raising capital are known by financial professionals who do it for a living or have done it before.
And there will be a whole gathering of them in Chicago next week at Benzinga's Cannabis Capital Conference. And next month a similar gathering in St. Louise via MJ Unpacked.
So no excuse on where to find them.
Say hello if you see me or Daniel McCarthy, CPA, CFE, MBA, M.Acc, or Dave Woodbeck, MBA making the rounds at either.
And the SOP’s are objective because they work across industries more or less.
We have persons on our team who have raised over $100M in Oil in Gas.
And we have had team members use the same SOP’s from above to raise almost $2M for a pre-revenue cannabis company in 2023. Ask Cassidy McFarland, CPA about his experience.
And we have used the same SOP’s to support a raise of $150k for Canna Tech/SaaS company.
At DOPE CFO Certified Advisors we have proof not promises that Raising Capital is an objective SOP that is repeatable.
As CFO's we have to be able to Manage Capital or we are just glorified Financial Controllers.
And "Capital Management" covers everything from raising capital, deploying it against a budget and ultimately turning it into more capital.
And it has to be this way for Capital Management to be effective in driving profits.
If you are a canna curious #CPA or #Fractional CFO and you find this stuff interesting please reach out.
We are looking to bring in more qualified financial professionals into the cannabis industry.
Kristi Vaneé Kem, Andrew Hunzicker, CPA Founder of DOPECFO and myself are always happy to make new friends.
Photo Example: Objectively this is a photo of the sun raising over lake Michigan. But subjectively to me it is art where the leaning tree symbolizes grit when it should have gave up a long time ago.
Partner & Founder @ Lombardstreet Ventures
1moI am so proud of LineLeap! The company culture is unique in our portfolio, and that's how you make great things happen. I'm looking forward to seeing you guys on a podcast to tell everyone how you started this business. It would be inspiring for many other young founders.