Looking at the Implications
Today is a great day, man. The birds are chirping, the sun is out, I’m all warm, this pizza is dyno… have you ever looked at your hand? No seriously. Look at it. Wow… man.
Today is a great day for many people whether you’re in Colorado or the seven other states that allow recreational use of marijuana; however, tomorrow will be a bad day for many as well.
Many employers still run a drug-free workplace and it’s part of an employment stipulation to remain abstinent in your free time. Also, marijuana is still a schedule one narcotic on the federal level. At any moment, someone in possession of the substance could go to jail and face federal charges, regardless if it is legal for medical or recreational use in their state. Just because a state’s population voted to legalize something does not give that populace free reign.
Another, often overlooked, issue is that marijuana dispensaries cannot deposit their revenue into FDIC-insured banks and find alternative ways to store their cash or make purchases.
Business can be the same way. Something may sound great on the surface (and possibly is), but there can be a deeper implication. Look for great opportunities to grow and succeed in your business, but always watch your blind spot. Constantly give yourself risk assessments and have others audit your business. Are you a freelancer depending on one freelance bidding site? What if the site goes out of business or is down for a week due to technical issues? You will be out of work for a week or will have to start over on another site with no reviews or contacts. Always look for ways to diversify and mitigate risk in your business. Finally, read the fine print.
The question of the day: When was the last time you did a risk assessment of your business?
Featured Image Credit