Cultivate Supply - E.41

We The Growers sits down with Chip Baker from Cultivate Supply, a chain of hydroponic stores in a few locations across the country. In this episode, we talk about the story of Chip starting the Coco company that would become Royal Gold Coco, what it was like growing in Humboldt back in 1996, and we both share lessons we have learned after decades of entrepreneurship in the cannabis industry. Listen now on Spotify or Apple Podcasts: https://open.spotify.com/show/5VrbpGbAE9JYn3I0Vo8zSy https://podcasts.apple.com/us/podcast/we-the-growers/id1620427747 Follow Chip and Cultivate on Instagram: https://www.instagram.com/cultivate_supply/ https://www.instagram.com/chip_baker_/ Produced by the Athena Ag Team. We The Growers Podcast Instagram: https://www.instagram.com/wethegrowerspodcast/ Athena Ag Instagram: https://www.instagram.com/athena.ag/ Visit our Website: https://www.athenaag.com #WeTheGrowers #AthenaAg #ForTheCulture Cultivate Timestamps 00:00:00 Intro 00:00:40 Chip’s beginnings in the Hydro Business / Cultivate Today 00:03:23 Competition in the industry 00:06:00 Personal connections are key in the Hydro Business 00:07:34 Brandon and Chip living at the Hydro Store 00:09:00 Being an advocate for Cannabis 00:10:35 Relationships are key 00:11:35 Being Pilots 00:18:45 Close calls as a pilot 00:27:00 Similarities between Growing and Aviation 00:28:29 Chip’s coco company 00:37:27 Humboldt then vs now 00:43:47 Buying hydroponicsinc.com 00:47:47 Starting Aura Systems 00:52:10 Private Equity & Venture Capital 00:58:10 Rebate program in Colorado 01:03:40 Biggest Challenges Scaling Cultivate 01:06:30 Biggest Changes in the Hydro Business 01:09:22 One of the biggest mistakes made operating a hydro store 01:17:55 How Chip runs Cultivate 01:30:20 How important is your team running a Hydro Store 01:38:30 Automation 01:44:38 How Luxx and Athena grew 01:49:16 Luxx Lighting 01:59:38 Advice to younger self 02:09:47 Cashflow, budgeting, & finances 02:17:35 Saying no 02:19:48 Chip’s book recommendations 02:28:40 First crops 02:33:30 Being an entrepreneur 02:42:05 Hydro store location