Flowhub is a team of compliance officers, techies, problem solvers, and advocates that has built reliable compliance software for the regulated cannabis industry. The company’s goal is to make compliance simple to manage and provide tools to help cannabis businesses thrive.
Q&A with Entrepreneur & Flowhub
What do you think are the biggest misconceptions cannabis industry?
From the outside, there are still so many people who don’t consider the cannabis industry as legitimate or professional. Despite illegality at the federal level, cannabis business owners are under even more scrutiny when it comes to compliance compared to most industries. Because regulations vary from state to state and laws are in constant flux, there is a greater pressure on businesses in cannabis to comply with strict requirements, make intelligent decisions based on data, and optimize margins in order to win. When it comes down to it, cannabis is just another consumer product and dispensaries are just highly regulated retailers. It’s a very real industry, and growing fast. It’s incredible.
How is your business innovating?
Flowhub is innovating the way dispensaries handle compliance and data. We’ve built delightful tools that automate compliance reporting with state governments and have empowered dispensary owners with the data they need to grow revenue and expand to new locations. Before Flowhub, much of the compliance reporting required by state regulators was done by hand. By removing these manual tasks from daily workflows, dispensaries are able to improve operational efficiencies and focus on providing the best customer experience possible. We’re taking this industry into the digital age.
What was the biggest hurdle you had to overcome in your business?
Two hurdles come to mind. The first was convincing skeptical investors that the cannabis industry was going to scale just like any other consumer product. The second was convincing dispensaries to invest in new software built by a startup. Once we hit 25 customers, proving our value and expertise became easier, but reaching that initial product/market fit took a lot of energy.
What is your favorite aspect of working in this industry?
We love hearing stories about how cannabis has made a positive impact in people’s lives. On top of that, we get to work alongside teammates and partners who care deeply about WHY we are building a regulated industry and the importance of ending the prohibition of cannabis. This industry attracts a diverse community of passionate, determined, and inclusive people who are all bound by a common goal and love for the plant.
What inspires you?
We are inspired by change. Cannabis is an emerging industry where we are learning from each others’ achievements (and mistakes). What we are experiencing is unprecedented and happening right now. We love seeing how far we’ve come and the progress we’ve made in just a few short years. We have an opportunity to transform the way the world views cannabis, and that alone keeps me going.