When Ankur Rungta wanted to break into the cannabis industry, he didn’t study cultivation or extraction.

Instead, Rungta joined a top tier corporate law firm and later a Wall Street investment boutique where he sharpened his legal, finance and M&A chops.

That gave him the expertise to launch Michigan-based C3 Industries, a vertically integrated cannabis company now in four states and going for more.

But how did Rungta survive the challenges that finance and law couldn’t prepare him for in the cannabis industry?:

• Surrounded himself with top talent, including the former chief cultivator of Green Thumb Industries.
• Made quick decisions rather than dawdling when new opportunities arose.
• Focused on premium brands and found they did well even in saturated markets.
• Respected local cannabis cultures.