The Game of Growing: How to Lower Costs and Increase Yield
Description
Welcome to Success Up North, the podcast where we document our journey towards success as a grower, family man, and business leader. Today, we will talk about the game of growing and how it relates to the cannabis industry.
As a grower, one of the most important things to consider is the cost of goods sold (COGS) and the yields. Lowering the direct and indirect consumable cost of goods sold while increasing yield and quality metrics, such as cannabinoid and terpene content, is the key to success.
The game of growing is a lot like a role-playing game where you're able to decide your path and deal with the positive and negative consequences of your decisions. From choosing Rockwool over cocoa to living soil versus conics, growers have different preferences for the way the plant is cared for and how they feel about the end result.
However, there is no one correct or superior way to grow. The beauty and quality of cannabis are often in the eye of the beholder, and everyone has their preferences. Some consumers want cheap cannabis, while others are willing to pay top dollar for the highest quality.
Despite these differences, one way to ensure success in the cannabis industry is by focusing on growing profitably. Constraints drive innovation, and being frugal and putting constraints on what we can do with the resources we have allows us to innovate and become more productive.
The game of growing is a challenging one, but it can also be highly rewarding. By focusing on growing profitably and being innovative, growers can find success in the cannabis industry. Thank you for listening to Success Up North.
Key Points:
- The importance of lowering consumable costs while increasing yield and quality metrics in the game of growing cannabis.
- The comparison of growing to a role-playing game, where growers make decisions and deal with the consequences of their choices.
- The subjective nature of cannabis quality and how it varies depending on consumer preferences.
- The focus on growing profitably and the need to instill constraints to drive innovation and productivity.
- The importance of being frugal and resourceful in order to stay in business, especially during market downturns.
- The use of a COGS calculator to analyze the indirect and direct consumable costs of producing cannabis in different scenarios.
- The different categories of consumables, such as PPE, biosecurity, IPM, nutrition, plant healthcare, labor, harvest, and post-harvest.
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