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LESSONS IN LEADERSHIP

■ Retail
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“ We are trying to walk applicants through timelines and strategies . We want to empower people with enough knowledge so that they can make good business decisions ,” she explains .
“ They are doing a fantastic job ,” Sam Delgado says of the NJBAC team .
New Jersey Economic Development Grants
To help address the capital needs of startups , the State has also made progress . In April , the New Jersey Economic Development Authority ( NJEDA ) announced Phase I of its $ 10 million Cannabis Equity Grant Program . The Joint Ventures Grant supports businesses and startups in the recreational cannabis industry and ensures communities that were adversely impacted by the war on drugs to have equitable access to the industry by providing eligible startups with a grant of $ 250,000 .
“ Cannabis entrepreneurship opportunities can play a crucial role in returning wealth to individuals and communities that have unfairly suffered as a result of the criminalization of cannabis ,” said NJEDA Chief Community Development Officer Tai Cooper in a recent press statement . “ A primary focus of the Cannabis Equity Grant Program is to help address this inequity by supporting entrepreneurs and small businesses .”
Coming Soon : Cannabis Consumption Areas
The NJCRC is also developing updates to regulations to include rules for cannabis consumption areas . Consumption areas will be connected to a licensed dispensary . Details are still in the works . According to Sam Delgado , “ It ’ s going to happen . We have established the rules , but it is not happening right now .
More work needs to be done , but we will be opening these licenses in the near future .”
Challenges Ahead
According to Todd Polyniak , applicants face three significant challenges : Real estate , capital , and experience . “ Even though you may have a conditional license , you still need to find a suitable location and acquire the right expertise . It will take savvy business skills to survive . You can ’ t just rely on supply and demand . At some point , municipalities will see that they are missing out on revenue and will allow multiple outlets . Competition will begin to drive the market .”
CRC ’ s Delgado agrees . “ As with any marketplace , as we grow , things will come up and policies will probably need to be updated and changed . The competition will drive the markets , however , not us . Our role is to regulate the industry to ensure that businesses follow the law and maintain a stable , robust marketplace so that everybody wins , including the communities , the taxpayers , and of course those individuals who
were incarcerated under the old laws . We want to create opportunities .” Delgato concludes .
Todd Polyniak , CPA , partner with SAX LLP and leader of the firm ’ s cannabis services team
Photo : Getty Images / iStockphoto / Wirestock

LESSONS IN LEADERSHIP

A Matter of Trust

By Steve Adubato , PhD Freelance Contributor

Trust is a very complex thing . It ’ s so hard to achieve but so easy to lose , and once you lose it , it seems so hard to get back . Following are some of the keys to building trust – a virtue that should never be taken for granted :

Put others first – Not just as a leader but as a person .
During tough economic times for an organization , a CEO may take a pay cut in order to ensure that people ’ s jobs will be saved , or other worthy employees will get well-deserved raises .
Listen to other points of view .
Want to lose the trust of your people ? Then insist that you are right all of the time . Some of the worst leaders confuse stubbornness with being principled . Instead , let those on your team know you want to hear their perspectives .
Do the right thing .
Doing the right thing , even when the easier option is obvious , often involves difficult choices . These choices may be unpopular with the people who are affected , but those closest to the situation will know that the leader did what had to be done to maintain the integrity of the organization .
Take the blame .
When something goes wrong in an organization , the best leaders never throw a team member under the bus . Instead , great leaders step up and take responsibility .
Share the credit . The opposite of throwing someone under the bus is taking all the credit for oneself . One of the fastest ways to lose trust is to not spread credit around . Great leaders share the credit so that others can succeed .
Be up front . Because circumstances can change so rapidly , an important lesson in leadership is to confront these difficult conversations directly . Avoiding them only guarantees a buildup of distrust and resentment .
A work culture of trust fosters teamwork .
Steve Adubato , PhD , is the author of five books including , “ Lessons in Leadership .” His sixth book , “ Lessons in Leadership 2.0 : The Tough Stuff ,” will be released in summer 2023 . He is an Emmy ® Award-winning anchor with programs airing on Thirteen / WNET ( PBS ) and NJ PBS . He has also appeared on CNN , NPR and NBC ’ s Today Show . Steve Adubato ' s “ Lessons in Leadership ” video podcast with co-host Mary Gamba airs Sundays at 10:00 a . m . on News 12 +. For more information visit www . Stand-Deliver . com
Photo : Getty Images / iStockphoto / Chaay _ Tee
May / June 2023 COMMERCE 29