Rich Batenburg Jr. – Cocktail Whisperer

Warren Bobrow: Where are you from? Did you go to business school? Who is your mentor? Why cannabis? What is your passion?

Rick Batenburg III,
Cannabis Venture Capitalist
Credit: Clear Cannabis, Inc. CREDIT: CLEAR CANNABIS, INC.

Rick Batenburg III=RB: I am from Loveland, Colorado. The short answer on B-school is, yes, I graduated second in my class at Nichols College in Dudley, Massachusetts. However, my business education began decades earlier while going to the office with my father and learning negotiation and investment prowess through osmosis. I have two mentors: First and foremost, my father, Rich Batenburg Jr., and professionally I am mentored by Jim Jungjohann, a hedge fund manager.

Read More Here At Forbes:

Richard M Batenburg Jr._head-shot COURTESY: RICHARD BATENBURG, JR.

Warren Bobrow: What do you think about Colorado and the way they fit a model for the rest of the country to follow—pertaining to cannabis? What about medical? What happened?

Rich Batenburg Jr.: My cannabis-focused investment company operates in several states, many of which we entered at original deployment of a legal marijuana program. While we hear about officials from new jurisdictions coming to Colorado to do research, as well as hiring regulatory consultants from Colorado, it seems like they listen and then try to reinvent the wheel. From my background in change management and process consulting with giant corporations, this is normal—albeit completely unproductive behavior.We should be able to agree on labeling, packaging and potency rules, residency requirements and taxing structures across state lines. Setting up cannabis regulation 50 different ways just creates problems for all involved. I wish other states would just plagiarize the things Colorado did right and improve upon the things they didn’t. Like most people and companies, everyone thinks “we are unique” or “our market is dramatically different.” Over my career I have worked in many industries in almost every state, and I’d estimate that 80% of business challenges, and the solutions to them are the same. It’s all about getting “buy in” from the people who are delivering the products and services. Without buy in, change just takes longer and costs more than it would otherwise.