Personal Goals Must Come First – Then Decide Your Inner Circle

Insights from a CFO Newsletter – 420CPA

“Those closest to you determine your level of success.” – John Maxwell

At the core of every business decision is you. Whether you’re starting a new business or stepping into an existing one, the first step is always clarity on your personal goals. What do you want to achieve? What kind of lifestyle do you envision? These questions should guide every professional decision you make.

Your personal values and ambitions may change over time, sometimes rapidly. That’s okay. The key is to revisit them regularly so you can ensure that your business choices align with your personal growth.

Who Should Be in Your Inner Circle?

Once your goals are clear, the next step is deciding who should be involved in your business. Investors, partners, friends, and family can all play roles—but should they?

Start by asking yourself:

✔️ What are my core values?

✔️ What characteristics do I want in my inner circle?

✔️ Which values must align? Where is flexibility okay?

✔️ What kind of involvement am I looking for—consultants, investors, partners, employees?

Writing these things down can be eye-opening. Pen to paper is a revealing exercise, helping you clarify what matters most.

Alignment Is Everything

Not everyone who wants to be involved in your business should be. Your inner circle should align with your vision, values, and goals. This means being intentional about:

• Who has decision-making power?
• Who will actively contribute?
• Who shares the same level of commitment?

If you choose to work with investors or partners, clearly define what type of partnership you want. Start-up capital isn’t always the right choice—sometimes a loan is a better option.

Active or Passive Involvement?

There are many ways to involve others in your business, but it’s critical to define expectations upfront.

Investors

• Do you want active investors who help steer the company or passive investors who provide capital but stay out of operations?
• Friends and family investors—trust is everything in cannabis, and bringing in the wrong people can create challenges.

Debt vs. Investment

• Loans give you control but come with financial risk.
• Equity investment provides cash flow but means giving up a piece of your business.

Consultants

• The right consultant can provide strategic guidance without taking a stake in your company.
• Consider hiring cannabis industry-specific experts to navigate regulatory and financial complexities.

In Cannabis, Your Circle is Your Gatekeeper

The cannabis industry operates differently from many others. Who you know matters. If you don’t have an existing relationship with someone, doors may remain closed. On the other hand, being part of the right network can provide opportunities, funding, and partnerships that wouldn’t otherwise be available.

Before making any big decisions, take the time to assess your personal goals first—then, and only then, decide who belongs in your inner circle.

Need Help Finding the Right People? We’ve Got You.

At 420CPA, we don’t just offer financial expertise—we are deeply connected across the cannabis industry. Whether you need trusted investors, strategic partners, or industry-specific consultants, we can connect you with the right people to move your business forward.

Tell us what you need, and we’ll help you find them.