Risk Tolerance – Entering The Legal Cannabis Industry
“In any endeavor, you have to understand your tolerance for risk. What’s a failure you can afford?”
– Christie Hefner
I want to thank you for taking the first steps forward to becoming a force to be reckoned with in the legal cannabis industry. Get ready for a wild ride!
I started out in a small basement, back in August 2005. The reason I started growing cannabis was because of the downturn in the economy. I came from a construction background, and it was starting to see a slowdown, along with the real estate slowdown. At the time, I was barely making ends meet. I was living in a house that I was renovating, or what you may call a fix and flip, in Fort Collins, Colorado. Also, I was working two other side jobs just so that I was able to pay a small amount of bills, like food, car insurance, and gas. I was 27 years old at the time, with no family, no girlfriend, and just a few relatives living in a nearby town. I needed to find something that was going to work for me. I was open to opportunity. Hell! I was hungry for new opportunities. The best opportunity that I noticed was, unfortunately, illegal. That should tell you how desperate I was to find some success. What I’m about to share with you in this book has all come from many of my failures and triumphs in the cannabis world. You will need to get familiar with this process because you will see your own failures and triumphs. The more you take from this book, the more time it’ll save you, along with a lot less mistakes.
How do you handle a loss? Everybody handles loss differently. In my late 20s, I handled loss much differently than I do at 41. I used to drive to work, and if I was cut off in traffic, it used to ruin my entire morning. My, how stupid that sounds at this age. Why would I let something as simple as that ruin my morning. Pretty silly if you think about it. The other person probably didn’t even know they were doing it. This could be considered around a level 1 to 2 tolerance level. What do you think this will rate on your tolerance level? If this would ruin your entire morning, I can save us both a lot of time by saying you have a very low tolerance for risk.
Here’s a mid-level risk example that can help you. I had rented a five-bedroom house for the sole purpose of growing cannabis in the basement. I remember saying to myself, “What was I thinking? I have nine months’ worth of savings in order to create some success. I had better get to it.” The good thing is, at this point in time, you shouldn’t need to make decisions this extreme, but you will be faced with very similar business situations.
I know you are asking yourself so many different questions. The biggest question you need to answer is how much you are willing to give up in order to become a multi-millionaire. Would you be willing to sell most of your possessions that you currently have, in order to do this? I will tell you it would be worth it, but you have to be willing to go the distance in order to experience it. I was a bit hesitant to bring this up in the first step, but you should know what is going to be expected from you at the beginning. This will help guide you through things that are tough.
To be continued…
To continue reading please purchase your copy of From Black Market to The Man:
- BONUS 1: IRS Memorandum – Background and Breakdown of 280e, Cannabis Tax Audit Expert
- BONUS 2: Package Bonus #1 – Colorado Marijuana Enforcement sample, Attorney Bill sample, Approved National Association Group
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- BONUS Video: – The Ideal Harvest Optimized Cultivation Facility
Congratulations for choosing this book! I have no doubt that it will change your life for the better. It will inspire you to achieve your dreams and to live the life that you have always wanted to live!