Marijuana Business Magazine November December 2018

Q So you tried a more business-minded approach to selling cannabis. What did you learn? A I learned that I had no clue how this industry worked. I had a risk-management background and did not realize how volatile this industry was. It was extremely humbling. It’s not about having skills. It’s about expecting change and expecting that what you plan isn’t always going to work out. I was grateful to have diversified our portfolio with companies that were out of the cannabis industry to balance those challenging times. Q You own other businesses outside the cannabis sector. How does that help? A The reason I am still in the cannabis industry is because I believe in the plant and its impact to our world. As a portfolio manager, I diversified very heavily out of the cannabis industry to create a bal- ance within the holistic health sector, which allowed me to weather these storms. I believe cannabis is one of many medicinal herbs and a component of holistic health. Q What are your tips for thriving in such a volatile industry? A You have to truly have passion for this plant and the patients. Expect change and be diversified in order to survive it. You have to know there will be volatility and how to react to volatility. A lot of people have lost a lot of money, and I have yet to see many profitable companies (after tax) in this industry yet. You have to love the plant, and I really do. ◆ This interview has been edited for length and clarity. – Kristen Nichols Editor’s note: Each month we ask a cannabis industry executive for business tips and advice, as well as insights from their own professional experiences. THE ALL-IN-ONE ENVIRONMENTAL CONTROL SYSTEM COOLING | DEHUMIDIFICATION | CO 2 SUPPORT | INTEGRATED CONTROLS EVERYBODY LOVES GROWER OWNER CONTACT A DATA AIRE EXPERT TODAY TO LEARN HOW TO OPTIMIZE YOUR YIELDS AND PROFITS. dataaire.com/gpod 800.347.247 3 sales@dataaire.com gPod2Grow Precision cooling & dehumidification with energy cost savings Pre-integrated controls for all modes of operation CO 2 distribution, monitoring & control In 2014, visionary engineers and cultivators joined forces with us to develop gPod, which has become the industry leader in environmental control. As the manufacturer of this comprehensive system, complete with controls and remote access, Data Aire has revolutionized indoor growing operations. Cannabis growers love bigger better yields. Owners love reducing energy costs and increasing output and profits. gPOD BY DATA AIRE… WHAT’S NOT TO LOVE? VISIT US AT BOOTH #4330 AT MJBIZCON, NOV. 14-16, 2018 November/December 2018 • Marijuana Business Magazine • 51