Raising Cannabis Capital 0141: MiniTab

A good sign that the cannabis industry is here to stay is when mature non-cannabis companies enter the space.  MiniTab is a forty year software company that provides tools for companies to unlock statistical information.  Josh Zable and Jenn Atlas join Dan Humiston to talk about the benefits of basing decisions on hard statistical data and using the data to support a capital raise.  

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Announcer:
Today's show is brought to you by a former guest. He looks cheesy, is one of the largest publicly traded non plant touching Cannabis companies in the world. Trading on the OPEC under ticker symbol H L I X, their portfolio of industry leading technology compliance and security companies is designed to scale internationally to capitalize on the inevitable proliferation of legal Cannabis without the risk and limitations of being a Cannabis producer. Record Q2 earnings driven by their market share leading seed to sale tracking software has positioned Helix T.S. S. as one of the most exciting ancillary companies in the Cannabis industry. To learn more about Helix TCM s trading under ticker h l x go to Helix T.C. s dot com or listen to Raising Cannabis Capital episode 96.

Josh Zable:
If you're thinking about developing a product and you're thinking about producing a product and you're doing it unblocked, that's part of your magic. But you should have some data to back it up to give confidence to your customers, be able to say. I can tell you what I'm giving you and I've got the data to back it up on the Cannabis industry where we're going to start seeing some brands really start to emerge. And really the brands that are going to emerge and get that competitive differentiation are going to be the ones who are doing things right.

Dan Humiston:
From MJBulls Media, it's the Raising Cannabis Capital show. I'm Dan Humiston. And on today's show, how this 40 year old analytics company is providing Cannabis companies with mainstream tools to help them make decisions based on their statistical information.

Dan Humiston:
Today, a Raising Cannabis Capital we're joined by Josh Zabel and Jen Atlas for many tips. Josh and Jen, welcome to the show.

Josh Zable and Jen Atlas:
Thank you. Thank you.

Dan Humiston:
Every day, the Cannabis industry becomes more and more accepted and becomes more mainstream. And on today's show is a great example because our guest Mini Tab is a company. That's Ben. And what, 40 over 40 years. And now you're bringing your expertise to the Cannabis industry, which is so exciting. Josh and Jen, many tab is this statistical software company that helps companies organize and better utilize their data. Josh, maybe you can tell us more specifically how you do that.

Josh Zable:
Yeah. Daniel, first of all, thanks again for having us. Longtime listener, first time caller here. Appreciate what you're doing and figure you're bringing a great service to the industry. And you know, as I've listened over time, I thought to myself, I think there's something many Tab can do here. So a little bit of background money to have a really nice story created by professors wanted to help their students learn statistics back in 1972 as the students moved into the workplace. They actually took many tab with them. It really started to grow when continuous improvement. And this notion of the importance of quality came about in the 80s. And I was just thinking to myself, you know, Mini Cab was on the cutting edge of bringing that sort of knowledge and data analysis to that industry. And here we are, I believe, on the cusp of a lot of growth for the Cannabis industry. And many TAB wants to support doing it the right way by bringing quality product to market.

Dan Humiston:
But now this software has evolved from used as the tool in the statistical classes in college. Now it's evolved to so much more.

Josh Zable:
Yeah, absolutely. I mean, we've evolved quite a bit, but really the product makes statistics easy and digestible. We pride ourselves on having the software be able to be used by everyday people who are just trying to do their jobs. So you use statistics to make sure that you've got consistency and quality. Many tab is a really cost effective, easy to use tool that can really help produce good quality, consistent product and avoid some of the pitfalls that most manufacturers do, whether it's Cannabis or anything else you're manufacturing or producing.

Dan Humiston:
Well, especially in our industry, because one mistake, it could be so detrimental. You've seen some of the recent stock crashes because just mistakes and those mistakes hopefully can be avoided if you are taking advantage of the data that's already there and just utilizing it to make better decisions. I know you've already started in the Cannabis industry, which give us a couple of examples as to how companies are taking advantage of many tab to improve their efficiency.

Jen Atlas:
Many times we believe that no matter what organization you're in, we think regardless of statistical background, you're empowered when you have access to easy to use tools. And that's really what we do with many tabs. Been interesting in the industry lately, working with a couple organizations up in Canada who are working on the measurement systems. So how do we measure different levels of actives within the products that we're seeing, making sure that those are consistent, that those measurement systems are easy to use? Reliable

Dan Humiston:
I want to take a quick break. Thank you for listening to today's show. As the leading Cannabis podcast network, we're constantly adding new Cannabis podcasts to support our industry's growth. And that's why we're so excited to announce our newest podcast, The Cannabis Breakout, which premieres October 18th. The show's about the thousands of Americans who remain in prison for violating Cannabis laws that have long since been overturned. The Cannabis breakout gives Cannabis political prisoners a voice. If you're a former Cannabis prisoner or have a loved one who is a Cannabis prisoner, we want to share your story. Please go to MJBulls.com and sign up to be a guest and.

Dan Humiston:
Not to get too deep into the weeds here. But how exactly do you do that?

Jen Atlas:
Yes. So the power comes up somewhat from the statistics. But the person who is coming to the statistics with their knowledge, with their process knowledge, that's where minicab really helps take what is just data, which is kind of boring on its own and really targeting information and insight. And that's where the value comes. That's where you see the light bulbs. When the scientists or engineers are analyzing some data, it could be up chart over time. We're just graphing the data over time. Suddenly show us some kind of impact that, hey, I didn't even know that was going on in my process.

Dan Humiston:
Yeah, it's so important.

Josh Zable:
What Jen's saying is if you're thinking about developing a product and you're thinking about producing a product and you're doing it on gut, that's part of your magic. But you should have some data to back it up to give confidence to your customers to be able to say, I can tell you what I'm giving you and I've got the data to back it up.

Jen Atlas:
Cannabis industry, where we're going to start seeing some brands really start to emerge, and really the brands that are going to emerge and get that competitive differentiation are going to be the ones who are doing things right.

Dan Humiston:
You mentioned how important it is to have that secret sauce. But if you're a company that's raising capital, investors want a little bit more backing up that secret sauce. They want some hard numbers that they can rely on to bring back to their team. You know, saying I just know it works sometimes isn't enough. Sometimes you need this extra data. So I think this is important for any of the companies that are out there that are in the process of raising capital. It's always good to back up what you're doing with some hard numbers and some hard data. You know, we've been speaking with Josh Zabel and Jen Atlas from many tabs and we'll have all their contact information on the MJBulls Web site.

Josh Zable:
Just want to say thank you. Really appreciate it. Like I said, I've enjoyed everything you're doing. Dan and thanks for having us.

Jen Atlas:
To reiterate, your statistics isn't as scary as people think it is. For some reason, they go through school and really don't love the class. It's much easier then than you think.

Dan Humiston:
We just need to call it something else. Something other than statistics scares everybody like. Well, Josh and Zoe. Nick, thanks. Thank you for being on the show. I really appreciate it. And welcome to the industry. We're glad to have you.

Josh Zable and Jen Atlas:
Thank you.

Jen Atlas:
Today's show was made possible by the generous support of our sponsors, like all 36, the country's premiere black chain payment processing platform that's providing dispensaries and its customers with a safe and secure payment option other than cash. To learn more, go to. Up 36 dot.com. Today's podcast was produced by MJBulls Media, the industry's premier Cannabis podcast network with original music, produced in part by Jamie Humiston.

I'm Dan Humiston and you've been listening to the Raising Cannabis Capital.

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