Your People, Brand and Supply Chain matter
In addition to the “traditional” areas of risk management there are three crucial areas of risk / opportunity that cannabis businesses must have a clear and durable strategy in place.
With the pace of growth and change in the industry, the ability to attract, develop, and retain the highest quality talent is and will continue to be a powerful competitive advantage. As the industry grows, the competition for talent (from executive level to front line) will become more and more a determining factor in a businesses ability to scale successfully and at the pace required. In addition, as the industry continues to mature and businesses scale quickly, ensuring that the proper Human Resource and Compliance measures are in place is a significant risk for
businesses. We review and provide resources and recommendations for best practices in human resource and compliance as part of our full assessment process.
The proliferation of brands, products, and product categories elevates the importance of brand differentiation for cannabis businesses. For those businesses competing across multiple state markets and product categories, the risk / opportunity is of particular importance. The Viridis team is equipped to help review and assess the clarity and strength of brand messaging and market position.
Finally, establishing a durable supply chain and the logistics to support it represents a huge risk / opportunity for the cannabis industry. The inconsistencies in regulation, geographic and market fragmentation, as well as the lack of financial infrastructure create significant challenges to creating the supply chain needed to scale sustainably.