Here are three strategies for cannabis companies to avoid drawn out regulatory investigations and to decrease the risk of facing regulatory penalties. Those penalties could include significant fines, license suspension or, in a worst-case scenario, license revocation.
1. Develop an expertise in your company’s security measures
Often, what causes a cannabis company trouble are the “unknown unknowns” of the business operation or, another way to put it, the “blind spots.” While it is easy to observe strategic errors in a competitor, a company generally has trouble seeing its own until it’s too late, which can be costly. To counter this, get another set of eyes on the operation with an objective viewpoint.
Reliable security experts can: