How risk management can make marijuana-related businesses bulletproof

Before a marijuana-related business launches, choosing an industry-appropriate insurer and coverage is mandatory. (Photo: Shutterstock)

Envision managing the risk of a volatile, staggeringly lucrative, 100% federally legal enterprise? Toss in ridiculously inconsistent federal, state and local regulations, insanely evolving technologies and efficiencies and an industrywide disinclination to ever “play by the rules.”

However, when armed with decent risk management fundamentals, a marijuana-related business can diminish most horrible outcomes, fortify the enterprise’s sustained growth and maybe even get rich along the way.