Vision, Resilience, and Strategy: An Exclusive Interview with Cannabis Industry Leader Maxime Kot
It takes more than just ambition to thrive. It requires vision, resilience, and a deep understanding of the complex regulations that govern the space. Maxime Kot, president of The Cannabis Business Advisors and the powerhouse behind the streaming platform “How to Open a Dispensary,” has mastered these qualities.
With over eight years of hands-on experience, Maxime has helped secure multiple cannabis licenses across more than two dozen state markets, solidifying her reputation as one of the industry’s top strategists. In this exclusive interview with PVM Magazine, Maxime opens up about her journey, the challenges she’s faced, and the future of cannabis.
Can you tell us about your journey into the cannabis industry? What sparked your interest and led you to this career path?
I like to joke that cannabis picked me, not the other way around, but now it’s a mutual love. I started as a marketing coordinator at a cannabis consulting firm many years ago, fresh out of college, looking for an entry-level job, and worked my way up to a director position in just a few years. Eventually, this led to the co-owner and president position I hold at The Cannabis Business Advisors.
What were some of the biggest challenges you faced when you first started in the industry, and how did you overcome them?
I started as a young woman in the male-dominated cannabis industry. That alone presented many challenges in getting people to take me seriously. I took these challenges as learning opportunities and refused to allow my age, gender, or ethnicity to get in the way of my accomplishments.
I was born in Malaysia and partially raised in Singapore before moving to the United States. Having to learn how to adapt to different cultures and environments, taught me a lot about speaking to your audience. I learned to adapt my communication tactics depending on the situation and people involved, which led to smoother conversations and deals.
How do you approach securing cannabis licenses, and what strategies have proven most effective in different state markets?
Being fluid in your strategy and approach is key in the cannabis space more often than not. You don’t have all of the pieces you need to plan well ahead of time. It’s better to be proactive and overly prepared, having a plan A, B, and C, instead of being reactive.
Being named in Marijuana Venture’s 40 Under 40 is a significant achievement. What does this recognition mean to you?
It’s an honor to be recognized for excellence in the career path that I chose to follow years ago. As someone who has been a professional in this space for 10 years, I’ve seen many people come and go. It’s a challenging industry to break into, and takes a whole lot more resilience to maintain a presence in this industry. It’s a world-changing industry and it’s wonderful to know that I am making a difference, too.
What would you say has been your proudest accomplishment in your career so far?
Starting a business/firm with my long-term mentor and colleague. Providing career and learning opportunities to others looking to break into the industry.
What are some common regulatory challenges you encounter, and how do you advise your clients to navigate them?
The rapidly changing regulatory landscape is a huge challenge. We always recommend clients have a solid, experienced team to stay on top of the never-ending changes to rules and regulations to ensure that they remain compliant at all times.
What inspired you to create the streaming platform “How to Open a Dispensary”?
We are always looking for ways to provide services to those who don’t need or are not looking for “hand-holding”. HTOD allows us to provide a la carte-type services and/or plans for those who just need some guidance and not the full spectrum.
What are some of the most significant changes you’ve observed in the cannabis industry over the past eight years?
How states are rolling out their cannabis programs (medical or adult-use). As more states start to legalize medical and/or adult use, each state learns from the next and adjusts/improves. Social equity has become a hot topic for states that legalize adult-use cannabis while 5 to 6 years ago, diversity inclusion was a big topic for medical states.
What advice would you give to someone looking to enter the cannabis industry today?
Don’t reinvent your wheel; know what you’re good at and apply your strengths in this space. There’s a place for everyone in this growing industry. For me, I like learning, so I studied the industry and it was apparent consulting was my forte.
If you are looking to venture into something completely new, ask for help, there are professionals (consultants/attorneys) in this industry who have years of experience and can help or point you in the right direction.
Are there any common misconceptions about the cannabis business that you’d like to address?
Everyone thinks being in the cannabis industry is so glamorous and you are always the most interesting person at the dinner table. What most people don’t understand is behind all the media and attention you get, there are a lot of complexities and hard work.
When you are traveling, you are flying and driving to the middle of nowhere because most states have strict zoning regulations. There are many sleepless nights because everything is so deadline-driven, especially when it comes to government deadlines.
What keeps you motivated and passionate about your work in the cannabis industry?
Being able to provide career opportunities for those looking to enter into the cannabis industry and new business ventures for clients. More importantly, being able to help normalize the consumption of cannabis for medicinal benefits.
What are your long-term goals for The Cannabis Business Advisors and your streaming platform?
We will continue to evolve as the industry evolves to provide services and develop business opportunities as the industry grows.
Is there anything else you’d like to share with our readers about your work, the industry, or any upcoming projects you’re excited about?
As cannabis business consultants, we always have to stay ahead of the game to understand where business opportunities will present themselves in the next couple of years. We track cannabis programs in all states across the U.S. on a weekly basis.
With the November ballot coming soon, there are a few states that may be legalizing medical and/or adult use. Now is the time to plan on expansion or entrance into the industry.
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