extrakTALKS with Dr. Jon

When you are planning to build a startup in the extraction industry, understanding your finances inside and out is essential. Mapping out the plans for your business in terms of your uniqueness in the industry and capitalizing on those specialties can mean a financially successful operation before you even hit the ground, but without a financial model to guide you along the way, you can get lost very quickly. This is why building a financial model is vital in terms of building your startup and appealing to potential investors as you grow your business. In this episode of extrakTALKS, Dr. Jon discusses how to create a financial model in the extraction industry. This episode goes into detail about the basic elements of building a business plan, creating an investor pitch presentation, determining what makes you unique in the industry and capitalizing on it and much more.  Listen in to understand the real benefits of creating a business plan and using it to be more successful as you build your business.

When it comes to creating a successful startup in the hemp and cannabis extraction industry, investor interest is key to hit the ground running. Moreover, it is a critical part of maintaining success throughout your growth in the industry. This means that appealing to potential investors is invaluable and could mean the difference between take off and crash landing in your new endeavor into extraction.In order to appeal to investors, you have to understand what they are looking for in your pitch.

Startups need to know the ins and outs of their business.  Are you able to answer these key questions.Why should investors invest in you?You need to articulate what you are doing? and why are you doing it? In order to get investors, you need to be the expert and know your numbers.Give your investor and customer what they need:Educate: Need to know the process details, costs, risks, formulas, recipes, documentation, qualityReduce: Reduce confusion over conflicting information form vendorsClarify: Clarify recommendations from consultantsCost: obtain highest value at lowest costQuality: Have equipment produce the highest quality and flexible oil optionsCompliance: Help navigating compliancyExperience: Need someone with experience to put it all togetherKeep the company management and ownership smallKnow your 3 year picture of where you want the company to go. Fill out the Entrepreneurial Operating System (EOS) to get the bigger picture.

So, you’ve decided to create your first hemp or botanical startup. You’ve planned out your location, what products you will make, what solvent you will use for extraction, and more. You have it all figured out! Or do you… What about your potential investors? Do you know how you'll pitch your business plan to them? This is a crucial step that many startups fail to properly employ causing significant difficulty when attempting to create partnerships, and establish investors. If you have yet to consider this vital step in your new or upcoming venture, you need to listen up to this week’s episode. In this week’s episode of extrakTALKS, Dr. Jon and Randall Thompson discuss the best possible ways to pitch your hemp or botanical business plan. There are several key factors that you need to take into consideration when deciding to pitch your business plan: The best practices for having a successful pitch of your idea or plan to investors Bringing in friends and family to your business venture Successfully pitching to an investment group and Making sure your plan stands out in a competitive market AND making that plan a success. Listen up and pay close attention if you want to make sure your investment opportunities are successful and that your overall business plan will bring you to revenue in the long term. 

In this episode of exrakTALKS, Dr. Jon continues to talk about the value of a kaizen approach to operational excellence in your business. Listen in as Dr. Jon discusses the “lean principles” and you can drive efficiency, lower costs, and reach your potential.

In this episode of extrakTALKS, Dr. Jon talks about the importance of operational excellence in your business. It's all about driving efficiency so you can lower your costs and reach your full potential. 

When it comes to a successful business in any industry, operational excellence is essential. From top to bottom, the way a business is conducted and run can make or break a business operation without a high standard of operational excellence. Those operational standards are magnified tenfold when it comes to the hemp and cannabis industry due to the regulations set forth by the FDA, state regulations, and customer demand for high quality, safe and potent products. Without rigorous standards for operational excellence, you can be sure that your business is likely to fail before you ever get your feet off the ground.In this video, Dr. Jon will discuss the essentials of operational excellence and how they apply to the hemp and cannabis industry. Jon will recall his story of starting at a successful small business which was bought out, in the process of transition learned the value of operational excellence, and ultimately entering the extraction industry as the founder and CEO of extraktLAB.  The video will cover a number of important topics including the basics of operational excellence, how it improves cash flow, using the Japanese principle of kaizen (meaning change for the better), value stream mapping, and the “six sigma” improvement process started by Motorola engineer Bill Smith.  These principles of operational excellence will be defined and explained by Dr. Jon through his own experiences of navigating the hemp and cannabis industry. He will walk through the toolkit of operational excellence that you can incorporate into your business practices. Watch and listen to Dr. Jon’s success story and begin adding his methods into your own and watch how operational excellence will solidify your operation in this industry.

igwLAB: Theory Guides, Data DecidesTo learn more, visit our website: www.extraktlab.comWe have tons of useful information in our No Holds Barred playlist Are you stuck in your business, need a solution? Schedule a free CBD Jam Session to get you the solution you need:Visit our blog for other important resources at https://extraktlab.com/blog/ or you may listen to our podcast here https://extraktlab.com/podcast/.Download our Distillation Guide to learn the ins and outs of all things distillation:Watch as Dr. Jon gives a Live Tour of 5 Ton/Day Processing Facility:Here is a link to a FREE Advanced guide to extraction:

Dr. Jon and Jared discuss the sustainability of extraction facilities in relation to the extraction solvent used.To learn more, visit our website: www.extraktlab.com/resourcesWe have tons of useful information in our No Holds Barred playlist https://www.youtube.com/playlist?list=PLQX9clbTgskpmjbiHCtAY9Y_zti3hvrtHAre you stuck in your business, need a solution? Schedule a free CBD Jam Session to get you the solution you need:https://extraktlab.com/cbdjamsession/Visit our blog for other important resources at https://extraktlab.com/blog/ or you may listen to our podcast here https://extraktlab.com/podcast/.

On average, it is estimated that producing one 1/8th of indoor flower adds 41 pounds of CO₂ into the atmosphere.You wouldn't believe how much more it takes to make an ethanol extracted vape pen or tincture.To keep moving the Industry forward we need to rethink the approach to every aspect of production. Currently the focus seems to be cultivation and packaging. But much of the carbon footprint can be traced to production.Find out exactly how much it takes to produce a single vape cartridge and see how production has a massive impact on the environment. And how as a consumer you can demand better and as a producer show that you also care about the environment.

Although delta 9 THC has been well known and widely used for centuries, delta 8 THC has rapidly gained popularity within just the last decade. Because it is a CBD derived cannabinoid, delta 8 THC remains inside of a legal grey area as the 2018 Farm Bill federally legalized CBD derived products for processing and sale. Because of this, CBD processors in most states can legally create a cannabinoid that is psychoactive like delta 9 THC, but is considered to be federally legal. This has opened the door for those curious about psychoactive cannabinoids that would otherwise break the law to try delta 9 THC products in states where it is not legal. Because of this, the opportunity to create delta 8 THC products from CBD has exploded and producers are all trying to find a way to profit off of its rapid growth in popularity. In this episode of extrakTALKS, Dr. Jon and Jared Lerche sit down to discuss the rise and controversy of delta 8 THC. They compare delta 8 and delta 9, discuss how delta 8 is made and ponder the possible future of this fascinating cannabinoid.This week we dive into one of the most controversial posts Dr. Jon has made to date..He posted a poll asking how people feel about Delta-8. We received responses from every side of the industry. Thanks again to everyone that contributed to the conversation. It was great seeing that passion is still alive in the industry!

Operating your extraction business in a clean and green manner is becoming essential to an increasingly growing mindfulness to sustainability. While there are many operational practices that can lead to a successful extraction process, there are clearly some extraction methods that contribute more significantly to the overall carbon footprint of large scale manufacturing around the world. Because of this, extraktLAB chooses to use supercritical CO2 as their primary extraction method as it is the cleanest, greenest method that can be used efficiently while remaining profitable. In this episode of extrakTALKS, Dr. Jon and Jared Lerche sit down to discuss sustainable extraction practices, how to operate with the smallest possible carbon footprint, and why supercritical CO2 remains the most efficient clean and green extraction method for the hemp and cannabis industry. To keep moving the Industry forward we need to rethink the approach to every aspect of production. Currently the focus seems to be cultivation and packaging. But much of the carbon footprint can be traced to production. Listen in to find out exactly how much it takes to produce a single vape cartridge and see how production has a massive impact on the environment. And how as a consumer you can demand better and as a producer show that you also care about the environment.

The simple fact is that the extraction industry for both hemp and cannabis markets is an incredibly competitive arena. Without the proper knowledge and resources, it can be all too easy to slip beneath the waves and crash before your success can take off. extraktLAB has successfully put hundreds into the business of extraction and has maintained success throughout the rising competitiveness in the industry. In this episode of extrakTALKS, Dr. Jon and Randall Thompson follow up from their previous discussion on the Foundations for Success they have implemented in extraktLAB that has provided sustainability and profitability for years to come. Listen in as they discuss how to reduce operating costs, remaining profitable in competitive markets, GMP compliance and more.To learn more, visit our website: www.extraktlab.com

Foundations For Success: Creating a successful business in the booming hemp and cannabis extraction industry is no simple task. There are a plethora of variables that need to be considered in order to ensure your operations are safe, efficient and profitable. Above all, you need to know and provide value to your customer in forms of education, cost, experience and more. Without this firmly established, along with other critical factors, it may be incredibly difficult to be certain of a successful business. In this episode of extrakTALKS, Dr. Jon and Randall Thompson lay out their foundations for success. extraktLAB has put hundreds of successful operations in the business of hemp or cannabis extraction and have a wealth of knowledge to share. This episode will dive into the success factors that Dr. Jon has implemented to make extraktLAB an industry leader in this incredible industry.To learn more, visit our website: www.extraktlab.com

Flash chromatography is used in the hemp and cannabis industry for a number of important reasons. One of the most important reasons for a hemp extraction business to use flash chromatography is to remediate psychoactive cannabinoids like delta 9 THC to ensure that the final extract is legal and safe for human consumption. Without flash chromatography, it would be difficult to ensure a legal hemp based product that remains under 0.3% delta 9 THC as mandated under the 2018 Farm Bill that legalized hemp processing. In this episode of extrakTALKS, Dr, Jon and Randall Thompson follow up on flash chromatography, how it is performed and why it is so critically important to the hemp and cannabis extraction process.

Flash chromatography is a separations technique that is incredibly useful in a swath of scientific practices. In the hemp and cannabis industry, flash chromatography is used primarily as a remediation method that removes products from an extract that cannot legally, or safely remain in the end product. Delta 9 THC, for example, is a legal issue in hemp based extracts that must be remediated to create a legal product. Because federal law requires that delta 9 THC levels do not exceed 0.3%. This makes the method of flash chromatography incredibly important to remove excess levels of delta 9 THC and other psychoactive cannabinoids from a hemp product so that it is safe and legal. In this episode of extrakTALKS, Dr. Jon and Randall Thompson talk about flash chromatography and how it is used in the extraction industry today.

In the last episode of extrakTALKS, the decarboxylation process was discussed and why it is so vitally important to hemp and cannabis extraction. The entire process is essential to create products that are effectively absorbed in the human body. Apart from this, decarboxylation when performed prior to the actual extraction process increases the efficiency of extraction by increasing throughput in a reduced run time, and allowing for the best possible terpene collection in your operation. When performed properly, decarboxylation, coupled with the right equipment, can be the best time to collect those valuable terps without degrading them during extraction. In this episode of extrakTALKS, Dr. Jon and Randall Thompson follow up and discuss this important topic and how to utilize it to your advantage. 

Dr. Jon and Randall Thompson Discus Decarboxylation, the different methods, and benefits of retrieving terpenes directly from the biomass.Decarboxylation is not only important, it is essential in the hemp and cannabis extraction process. The decarb process is the process of introducing heat in order to convert cannabinoids like THC and CBD from their acidic forms to their neutral forms so that the human body can absorb and use them. Without this, cannabinoids would be ineffective when consumed. So, when and how should decarboxylation be performed in the extraction process? How is this done effectively? What other benefits does decarboxylation have in your operation? In this episode of extrakTALKS. Dr. Jon and Randall Thompson discuss the process of decarboxylation and the benefits it holds including more efficient extraction, high quality terpene recovery and more. 

There are a number of important considerations when you create a startup in the hemp and cannabis extraction industry. Making your way into this already booming industry from the beginnings of your business requires some firsthand knowledge, not only in this particular industry, but also the necessities of creating a successful startup, bringing in revenue, appealing to investors and more. To cover all of these important aspects, you will need to hire personnel that specialize in each to ensure your business is on track for success straight out of the gate. In this episode of extrakTALKS, Dr. Jon and Randall Thompson cover their top 5 first hires that they recommend for any upcoming startup in the extraction industry.

There are many factors to consider when making a business decision between one manufacturer and another. In this video Dr. Jon Thompson and Randall Thompson go over the criteria they believe you need to make that choice effectively. They will break it down to the essentials and leave you with the questions you need to have a profitable and efficient business.