At Rogoway Law, we understand that the pandemic has taken its toll on many operators and has impacted different industries disparately. It is always crucial to run startups leanly and efficiently, but lately it’s especially crucial for our clients in the California cannabis industry. Here are some ways we can help you decrease costs, increase productivity and motivation among staff and review your own operational efficiency (inside and outside of the cannabis industry):
- Creating best practices guides or company policies for leaner, more streamlined operations, still compliant with local and state regulations but focused on cost-efficiency and removal of redundancy.
- Creating employee and consultant incentives that are milestone or performance based. We sometimes see our clients succeed more when staffing rewards are milestone or performance based rather than time based, whether those rewards are bonuses or equity-based compensation, and we can assist in helping you craft those clearly and in a way that mitigates risks and makes clear company expectations.
- Carefully addressing employee and staffing shortcomings and coming up with solutions for successful company governance and performance.
- Reviewing commercial agreements for non-payment provisions and remedies and updating them in anticipation of late payments to incentivize compliance with timely performance and receipt of sales or other profits and proceeds.
- Assisting in review of leases and including regarding proposals for amendments or re-negotiations.
- Drafting loan agreements, promissory notes and SAFEs, assisting in bridge financing.
The above suggestions are just some of the ways we can help your business save money, cut costs and increase efficiency. We understand that sometimes it’s hard to spend money on legal in order to save money, but we are confident that the upside should outweigh the costs if done appropriately with communication of a clear budget.
Contact us for any questions or to set up a consultation regarding the above services.