Each week we highlight entrepreneurs in the cannabis industry so our viewers can learn who is behind the team of the upcoming and leading businesses, organizations, and non-profits in the industry.
This week we would like to introduce Danny Keith, CEO of Cannabis Club TV. Danny has built and sold numerous businesses and has also raised over $20M in nonprofit and corporate fundraising. He’s worked in social media, internet development and professional sports team marketing with the Golden State Warriors minor league affiliate Santa Cruz Warriors before founding Cannabis Club TV.
Cannabis Club TV is a Digital Out Of Home network broadcasting entertainment, educational and advertising to the consumer at the point of sale in dispensaries.
In our interview we asked Danny a variety of questions sharing his experiences, he had some insightful information and advice to share with each of you.
Danny, thank you for joining us. Can you please tell our viewers a little more on Cannabis Club TV?
Danny Keith: Cannabis Club TV is the Tommy Chong aka “The Pope of Pot” certified broadcast network connecting point for canna brands, dispensaries and the patient installed in cannabis clubs. By working with dispensaries to promote their in club promotions and broadcasting ads for the brands being sold in the dispensary while entertaining the patient is our measure of success. Currently, we are in 6 states CA, OR, WA, NV, CO, and MI.
What is the best piece of advice you can give to others looking to launch a company in the cannabis industry?
Danny Keith: As with any business you have to ask yourself if you are solving a problem or providing something that isn’t already out there. Know your competition, make sure you realize what you want to accomplish. Don’t be loss adverse, when making your financial projections recognize where cash needs to be injected. A lot of great ideas spawn businesses, but there is so much more than that. If you are considering starting a business you should make sure that you have a good CPA, Lawyer, Insurance Agent and Bank relationship. Even if you are working out of the spare bedroom, the same infrastructure applies. And finally, be focused, there are a lot of shiny objects to distract you.
What’s the hardest part of founding and running a startup?
Danny Keith: When founding a company you have to ask yourself is the problem that you are providing a solution to and can it be monetized. The discipline to establish a process and stick to it while not letting it strangle the business. Often startups happen between friends and certain steps get missed, running a startup is like a new marriage which takes constant attention. The most overlooked situation is making sure there is a plan to scale and being realistic with those visions. Just because you are putting in long hours does not mean you will be successful. My advice to people is to focus on 110% effort not 110% of your time.
Danny Keith: I believe that fundraising has to be genuine. You want the right donor or the right investor, so many times we rush past that initial gut check and regret it later. I always take the approach that if the opportunity is right, then the donor or the investor will ask questions to help them make a decision. It is important to identify what type of investor you see yourself working with if you want a silent investor then mention that at the beginning of the conversation. I find if you are transparent and direct then you will get the yes or no answer. And remember No is a good answer as well.
Is there anything that surprised you about being an entrepreneur in the cannabis industry?
Danny Keith: The cannabis industry is made up out of people who care about each other, and it shows. I have met so many great people along the way I could give a million shout outs to my friends that have influenced and provided connections or support over the years. I really appreciate all of them and look forward to building on those relationships over time. Take the time to get to know the people you are surrounding yourself with.
Being a founder, we are bound to make a mistake or two, what is one mistake you’ve done that turned up being one of your biggest learning lessons?
Danny Keith: Expecting anyone to care as much as you do about the business.
How important is having the right team to be successful?
Danny Keith: We believe that people will excel if given the right assignment. We always work to improve our team’s efforts by pivoting when someone is doing well in other areas than they initially were hired for. Passion, purpose, happiness and hard work usually produce success. When hiring you need to take a moment and see if there is a compliment to strengths or filling gaps on weaknesses, our motto is we are only as strong as our weakest link.
How are you helping the cannabis industry in a positive way?
Danny Keith: By providing the platform to tell the story of cannabis and educate consumers.
Who is your role model, and why?
DK: My father and my children, from my father I got patience and love while my children are a by-product of that.
How do you stay balanced?
Danny Keith: I surf and hike with my family.
Tell me about a project or accomplishment that you consider to be the most significant in your career.
Danny Keith: Launching a Non-Profit called Grind Out Hunger. Grind Out Hunger empowers the youth by utilizing the passion of skateboarding, surfing, snowboarding, and music to take leadership in the fight against childhood hunger and malnutrition.
Can you share the backstory on why you decided to launched Grind Out Hunger?
Danny Keith: I grew up around poverty watching friends go through being hungry and then realizing it happens everywhere. At the time I was in the surf/skate industry and saw a way for action sports and music to influence kids about childhood hunger positively.
What book are you currently reading and for pleasure or business?
Danny Keith: I usually read more current affairs and industry info than traditional reading. I am attempting to read the War of Art.
How can we as an industry continue to make a positive difference in society?
Danny Keith: Stay true to the reason why and not for the money.
To learn more about Cannabis Club TV, you can learn more at http://cannabisclub.tv/
Want to be featured? Click here to tell us why you should be an entrepreneur of the week on DCN.
To stay updated on the latest tech, entrepreneurs and innovative companies in the cannabis industry, click here.