Ep. 59: Why Every Cannabis Operator Needs an Audit Program

Ep. 59: Why Every Cannabis Operator Needs an Audit Program

🎙In this episode of Under the Microscope with Jenny, host Jenny Germano takes a deep dive into why every cannabis operator should have a compliance audit program and how an important tool like proactive auditing can help reduce risk, improve operations, and strengthen overall compliance. Drawing on her hands-on experience in cannabis operations since 2009 and consulting operators nationwide, Jenny breaks down what a compliance audit is, how it differs from a regulatory inspection, and why audits should be viewed as a preventative tool rather than a reaction to enforcement. She covers the different types of cannabis audits, including internal reviews and third-party assessments, and discusses key focus areas such as Metrc and inventory reconciliation, SOPs, employee training records, security systems, recordkeeping, labeling, and OSHA compliance. Jenny also explains how regular audits can identify operational gaps before they become violations, recalls, or costly fines, and why CAPA (Corrective and Preventive Action) programs are essential for addressing root causes and driving continuous improvement. This episode delivers practical guidance for cannabis operators looking to build a stronger compliance culture, reduce their circle of risk, and stay prepared for evolving regulations and enforcement trends.   🌿𝗢𝘂𝗿 𝗛𝗼𝘀𝘁: Jenny Germano, Founder of ICS Consulting 🌎 𝗜𝗖𝗦 𝗖𝗼𝗻𝘀𝘂𝗹𝘁𝗶𝗻𝗴: https://www.icsconsultingservice.com [https://www.icsconsultingservice.com]   ⏰𝗧𝗶𝗺𝗲𝘀𝘁𝗮𝗺𝗽𝘀⏰   02:10 What Compliance Audits Are  04:02 Audits vs Inspections  07:17 Risk Reduction & The Benefits  09:08 Enforcement Trends & Costs  12:28 Inspections Differ by State  15:49 Why Audits Matter in Practice  19:28 What Operational Gaps Audits Reveal  22:20 Types of Cannabis Audits  26:04 Regulatory Inspections  27:29 Metrc Inventory Audits  28:27 SOPs & Material Changes  29:44 Employee Training  35:32 OSHA Safety Compliance  38:33 Recordkeeping Systems  39:30 Common Audit Findings  40:17 Audit Frequency Schedule  42:37 Build Audit Program  43:50 CAPA - Corrective and Preventive Action  46:28 Audits as a Strategy  47:34 Taking Responsibility  51:27 Final Thoughts & Wrap Up   𝗟𝗲𝗴𝗮𝗹 𝗗𝗶𝘀𝗰𝗹𝗮𝗶𝗺𝗲𝗿: The content shared on this channel - including all videos, podcasts, interviews, and discussions is provided for educational and informational purposes only. It is not intended as legal, compliance, or business consulting advice, and should not be relied upon as such. Laws and regulations surrounding cannabis and related industries vary by jurisdiction and are subject to change. Always consult with a qualified attorney or licensed professional before making decisions that could have legal or regulatory consequences for your business. Listening to or viewing this content does not create a client relationship between you and ICS Consulting, Under the Microscope with Jenny, Jenny Germano, or any of the podcast’s guests. Any opinions expressed are those of the individual speakers and do not necessarily reflect the views of ICS Consulting or its affiliates.

Ep. 58: Scaling Cannabis Operations Through Building Better Employee Workplaces

🎙In this episode of Under the Microscope with Jenny, host Jenny Germano sits down with Scott Newman, a business consultant at Adaptive HR and OneDigital. Scott shares his journey into the cannabis industry in 2019 after attending NECANN in Boston and becoming Adaptive HR’s first full-time employee, and scaling nationally through acquisitions by Resourcing Edge and then OneDigital. Jenny and Scott explore how strong HR processes help reduce miscommunication, improve accountability, and create a more sustainable operation. The conversation also covers workers' compensation, OSHA resources, the risks of relying on AI for HR decisions, and the growing complexity operators face as they expand across multiple locations and states. They discuss the benefits employees value most beyond pay, including healthcare, retirement plans, mental health resources, pet insurance, and financial wellness programs. They also share practical strategies for building a strong workplace culture without breaking the budget, benchmarking against competitors, and leveraging PEOs to access better employee benefits. This episode delivers practical insight for cannabis operators looking to improve employee retention, strengthen compliance, and build a workplace that supports long-term growth.   🌿𝗢𝘂𝗿 𝗛𝗼𝘀𝘁: Jenny Germano, Founder of ICS Consulting 🌎 𝗜𝗖𝗦 𝗖𝗼𝗻𝘀𝘂𝗹𝘁𝗶𝗻𝗴: https://www.icsconsultingservice.com [https://www.icsconsultingservice.com] 🌿𝗢𝘂𝗿 𝗚𝘂𝗲𝘀𝘁: Scott Newman, a business consultant at Adaptive HR and OneDigital 🌎 𝗪𝗲𝗯𝘀𝗶𝘁𝗲: https://www.adaptivehr.net [https://www.adaptivehr.net]   ⏰𝗧𝗶𝗺𝗲𝘀𝘁𝗮𝗺𝗽𝘀⏰  01:21 Introduction Scott Newman  03:50 Why HR Still Matters  04:49 Early HR Must Haves  07:14 Job Clarity & Training  11:04 Don’t DIY HR with AI  14:17 Overwhelmed Operators  19:29 Workers Comp  23:39 Scaling & System Breakpoints  28:46 Expansion to New Markets  30:29 Build Strong Foundations  31:42 Benefits Beyond Pay  33:09 Healthcare & Retirement Basics  35:56 Mental Health & EAPs  37:36 Pet Perks & Pay Access  39:13 Loans & Payroll Deductions  42:44 Low Cost Culture Wins  45:50 PEOs & Leveling Up  52:50 Rescheduling & Benefits Outlook  56:06 Final Thoughts & Wrap Up     𝗟𝗲𝗴𝗮𝗹 𝗗𝗶𝘀𝗰𝗹𝗮𝗶𝗺𝗲𝗿: The content shared on this channel - including all videos, podcasts, interviews, and discussions is provided for educational and informational purposes only. It is not intended as legal, compliance, or business consulting advice, and should not be relied upon as such. Laws and regulations surrounding cannabis and related industries vary by jurisdiction and are subject to change. Always consult with a qualified attorney or licensed professional before making decisions that could have legal or regulatory consequences for your business. Listening to or viewing this content does not create a client relationship between you and ICS Consulting, Under the Microscope with Jenny, Jenny Germano, or any of the podcast’s guests. Any opinions expressed are those of the individual speakers and do not necessarily reflect the views of ICS Consulting or its affiliates.

Ep. 57: Cannabis Operator Series | Fireside Chat with BestBüds

🎙In this episode of Under the Microscope with Jenny, host Jenny Germano continues the Cannabis Operator Series with Amanda Terpstra, CEO, and Laura Trujillo, COO and co-founders of BestBüds Dispensary, a women-owned dispensary in New Jersey. Laura shares her journey from graphic design and corporate work at Samsung to launching a community-focused cannabis retail business with Amanda, whose background includes finance, HR, wealth management, and real estate. Together, they discuss the realities of launching in New Jersey, including fundraising while applying for licenses, lobbying local officials to opt into cannabis, navigating inspections and delays, and managing the operational challenges that come with opening a regulated cannabis business. Amanda and Laura also talk about the importance of owning the property, building the right team, and creating a welcoming, educational environment centered around customer experience and community connection. The conversation also covers cannabis marketing restrictions, trademarking, social media limitations, delivery operations, and future plans for vertical integration opportunities. They also share what they are most proud of, including building an all-women team and celebrating their upcoming two-year anniversary this fall. This episode delivers practical insight for cannabis operators on launching a compliant, community-driven dispensary while building a strong brand and long-term business foundation.   🌿𝗢𝘂𝗿 𝗛𝗼𝘀𝘁: Jenny Germano, Founder of ICS Consulting 🌎 𝗜𝗖𝗦 𝗖𝗼𝗻𝘀𝘂𝗹𝘁𝗶𝗻𝗴: https://www.icsconsultingservice.com [https://www.icsconsultingservice.com] 🌿𝗢𝘂𝗿 𝗚𝘂𝗲𝘀𝘁: Amanda Terpstra, CEO, & Laura Trujillo, COO & Co-Founders of BestBüds Dispensary 🌎 𝗪𝗲𝗯𝘀𝗶𝘁𝗲: https://bestbudsnj.com [https://bestbudsnj.com]   Timestamps:  01:34 Laura Trujillo Intro  03:15 Amanda Terpstra Intro  07:07 Our BestBüds Vision  10:23 The New Jersey Market  12:36 Pounding the Pavement  17:15 Fundraising & Compliance  24:45 Buildout & Inspections  26:34 Conditional Approval  30:34 Contracts & Costly Timelines  33:32 The Launch & Grand Opening  34:03 Branding, Marketing & Trademarks  37:59 Community & Education  41:09 Hiring Reset & Team Building  45:26 Customer Delivery & Future Expansion  51:33 Our Wins & Core Values  55:06 Final Thoughts & Wrap Up   𝗟𝗲𝗴𝗮𝗹 𝗗𝗶𝘀𝗰𝗹𝗮𝗶𝗺𝗲𝗿: The content shared on this channel - including all videos, podcasts, interviews, and discussions is provided for educational and informational purposes only. It is not intended as legal, compliance, or business consulting advice, and should not be relied upon as such. Laws and regulations surrounding cannabis and related industries vary by jurisdiction and are subject to change. Always consult with a qualified attorney or licensed professional before making decisions that could have legal or regulatory consequences for your business. Listening to or viewing this content does not create a client relationship between you and ICS Consulting, Under the Microscope with Jenny, Jenny Germano, or any of the podcast’s guests. Any opinions expressed are those of the individual speakers and do not necessarily reflect the views of ICS Consulting or its affiliates.

Ep 56: How Cannabis Operators Are Scaling Without Selling to MSOs or Private Equity

🎙In this episode of Under the Microscope with Jenny, host Jenny Germano sits down with Darren Gleeman of MBO Ventures to discuss how cannabis founders can potentially scale and transition ownership without selling to MSOs or private equity. Darren shares his background in hedge funds and explains how ESOP-based ownership structures are being used in cannabis as operators face limited exit opportunities, scarce lending, valuation challenges, and ongoing market pressure. Jenny and Darren break down what an ESOP (Employee Stock Ownership Plan) is, how these structures work, and the potential tax and succession planning advantages they may offer certain cannabis businesses. They also discuss leadership, employee retention benefits, and how operators can potentially use these structures to preserve company culture while positioning themselves for future growth and consolidation. This episode delivers practical insight for cannabis operators exploring alternative paths to scaling, ownership transition, and long-term sustainability in today’s cannabis market.   🌿𝗢𝘂𝗿 𝗛𝗼𝘀𝘁: Jenny Germano, Founder of ICS Consulting 🌎 𝗜𝗖𝗦 𝗖𝗼𝗻𝘀𝘂𝗹𝘁𝗶𝗻𝗴: https://www.icsconsultingservice.com [https://www.icsconsultingservice.com] 🌿𝗢𝘂𝗿 𝗚𝘂𝗲𝘀𝘁: Darren Gleeman of MBO Ventures 🌎 𝗪𝗲𝗯𝘀𝗶𝘁𝗲: https://mboventures.com [https://mboventures.com]   ⏰𝗧𝗶𝗺𝗲𝘀𝘁𝗮𝗺𝗽𝘀⏰ 01:09 Darren Gleeman Introduction 04:43 Cannabis Capital Crunch Setup 09:57 What is an ESOP? 11:07 ESOP Benefits, Taxes and Warrants 15:13 Why Traditional Exits Fail Today 17:45 Capital Markets & Banking Risk 22:35 Valuations & Illiquid Stock Reality 25:19 Co-Ops vs ESOPs for Employees 30:42 Receivership Limits  32:14 Valuing Declining Businesses 32:40 ESOP Fair Market Value 33:41 Buying Distressed Assets 36:08 280E After Rescheduling 38:09 DEA Registration Unknowns 42:49 Open Book Management 44:21 Who ESOPs Fit Best 50:10 Scaling Through Mergers 51:54 Private Equity Reality Check 57:36 Final Takeaways   𝗟𝗲𝗴𝗮𝗹 𝗗𝗶𝘀𝗰𝗹𝗮𝗶𝗺𝗲𝗿: The content shared on this channel - including all videos, podcasts, interviews, and discussions is provided for educational and informational purposes only. It is not intended as legal, compliance, or business consulting advice, and should not be relied upon as such. Laws and regulations surrounding cannabis and related industries vary by jurisdiction and are subject to change. Always consult with a qualified attorney or licensed professional before making decisions that could have legal or regulatory consequences for your business. Listening to or viewing this content does not create a client relationship between you and ICS Consulting, Under the Microscope with Jenny, Jenny Germano, or any of the podcast’s guests. Any opinions expressed are those of the individual speakers and do not necessarily reflect the views of ICS Consulting or its affiliates.

Ep. 55: Launching Cannabis Operations in a Mature & Saturated Market

🎙In this episode of Under the Microscope with Jenny, host Jenny Germano breaks down what it really takes to launch a cannabis business in a mature and saturated market. Jenny explains why licenses alone are no longer the competitive advantage in established markets and why success now comes down to execution, compliance controls, operational discipline, branding, customer experience, and financial sustainability. She covers the hidden realities of launching, including underestimated build-out costs, permitting delays, pre-revenue burn, and the need for more capital than most operators expect. Jenny also walks through the key challenges facing cultivators, manufacturers, dispensaries, and cannabis hospitality lounges, from branding and staffing to compliance, customer retention, and operational strategy. Throughout the episode, she highlights the traits successful operators share like clear positioning, realistic timelines, conservative financial planning, and the ability to adapt as markets evolve. This episode delivers practical insight for anyone looking to launch, scale, or survive in today’s competitive cannabis industry.   🌿𝗢𝘂𝗿 𝗛𝗼𝘀𝘁: Jenny Germano, Founder of ICS Consulting 🌎 𝗜𝗖𝗦 𝗖𝗼𝗻𝘀𝘂𝗹𝘁𝗶𝗻𝗴: https://www.icsconsultingservice.com [https://www.icsconsultingservice.com]   ⏰𝗧𝗶𝗺𝗲𝘀𝘁𝗮𝗺𝗽𝘀⏰ 01:15 Why Mature Markets? 04:43 Open Market vs Capped Market 08:10 Pre-Revenue Burn Reality 13:11 Construction Permitting 19:05 Product Shelf Space Battle 21:28 Distribution & SKU Focus 23:43 Dispensary Customer Strategy 29:25 Good Service Wins Customers 30:34 Curating Unique Products 31:16 Mature Market Advantages 31:57 Supply Chain Agreements 32:57 Discounting Pitfalls 35:10 Inventory Planning Reality 36:24 Define Your Customer 38:31 Lounge Models Explained 39:59 Risk, Liability & Compliance 46:38 Revenue Funnels Matter 48:27 Successful Launch Patterns 51:22 Future Market Maturity 53:33 Final Thoughts & Wrap Up    𝗟𝗲𝗴𝗮𝗹 𝗗𝗶𝘀𝗰𝗹𝗮𝗶𝗺𝗲𝗿: The content shared on this channel - including all videos, podcasts, interviews, and discussions is provided for educational and informational purposes only. It is not intended as legal, compliance, or business consulting advice, and should not be relied upon as such. Laws and regulations surrounding cannabis and related industries vary by jurisdiction and are subject to change. Always consult with a qualified attorney or licensed professional before making decisions that could have legal or regulatory consequences for your business. Listening to or viewing this content does not create a client relationship between you and ICS Consulting, Under the Microscope with Jenny, Jenny Germano, or any of the podcast’s guests. Any opinions expressed are those of the individual speakers and do not necessarily reflect the views of ICS Consulting or its affiliates.