Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

 

In this episode, Justin interviews Manjit K. MInhas, Calgary-born entrepreneur, engineer, venture capitalist, and Co-founder and CEO at Minhas Brewery, Distillery, and Winery, from the age of 19. Manjit appears on Dragon’s Den on the CBC and is a multiple entrepreneur. Justin and Manjit discuss her entrepreneurship journey, how she insists on risk professionals at the table from the beginning of any business, and what her risk philosophy is. Manjit shares thoughts on business resilience and her upcoming opening keynote at the RIMS Canada Conference 2025 on September 15th in Calgary. She offers a Q&A at the end of her keynote.

 

Listen to learn about startups, innovation, and having risk management at the decision table.

 

Key Takeaways:

[:01] About RIMS and RIMScast.

[:17] About this episode of RIMScast. Our guest is Manjit Minhas. You might know her from Dragon’s Den in Canada. She’s also the Co-founder and CEO of Minhas Brewing and Distilleries.

[:45] We will get a sample of her keynote, which will kick off the RIMS Canada Conference 2025 in Calgary, on September 15th. We’ve got a really fun episode for you today!

[:56] RIMS-CRMP Workshops! The next RIMS-CRMP-FED virtual workshop will be held on November 11th and 12th, and led by Joseph Mayo. Links to these courses can be found on the Certification Page of RIMS.org and through this episode’s show notes.

[1:16 ] RIMS Virtual Workshops! RIMS has launched a new course, “Intro to ERM for Senior Leaders.” It will be held again on November 4th and 5th and will be led by Elise Farnham. RIMS members enjoy deep discounts!

[1:33 ] The full schedule of virtual workshops can be found on the RIMS.org/education and RIMS.org/education/online-learning pages. A link is also in this episode’s notes.

[1:44 ] Several RIMS Webinars are being hosted this Fall. On September 18th, Origami Risk will present “Driving Better Incident and Claims Management with Data, Technology & Strategic Collaboration”.

[1:56 ] On October 9th, Global Risk Consultants returns to deliver “Natural Hazards: A Data-Driven Guide to Improving Resilience and Risk Financing Outcomes”.

[2:06 ] On October 16th, Zurich returns to deliver “Jury Dynamics: How Juries Shape Today's Legal Landscape”.

[2:14 ] On October 30th, Swiss Re will present “Parametric Insurance: Providing Financial Certainty in Uncertain Times”.

[2:23 ] On November 6th, Hub will present “Geopolitical Whiplash — Building Resilient Global Risk Programs in an Unstable World”. Register at RIMS.org/Webinars.

[2:35 ] RISKWORLD 2026 will be in Philadelphia, Pennsylvania, from May 3rd through the 6th. RIMS members can now lock in the 2025 rate for a full conference pass to RISKWORLD 2026 when registering by September 30th.

[2:49 ] This also lets you enjoy earlier access to the RISKWORLD hotel block. Register by September 30th, and you will also be entered to win a $500 raffle. Don’t miss out on this chance to plan and score some extra perks.

[3:02 ] The members-only registration link is in this episode’s show notes. If you are not yet a member, this is the time to join us. Visit RIMS.org/membership and build your risk network with us here at RIMS.

[3:17 ] On with the show! Our guest today is Manjit K. Minhas, a Calgary-born entrepreneur, engineer, and venture capitalist.

[3:28 ] You know her from the Minhas Brewery, Distillery, and Winery, which has grown into a global empire, with over 90 brands sold across North America and 16 countries.

[3:38 ] You also know her from CBC’s Dragon’s Den, which premieres its new season, featuring Manjit, in September 2025. Manjit will distill her risk philosophies on reliance and leadership today, here on RIMScast. I’m so excited to have her join us! Let’s get to it!

[4:01 ] Interview! Manjit K. Minhas, welcome to RIMScast!

[411] Manjit loves risk professionals and loves working with them. She is very excited to speak to risk professionals from many industries at the RIMS Canada Conference 2025.

[4:27 ] Manjit has worked with risk professionals in her companies and through the boards she sits on and the companies she advises or invests in. She sees a variety of talents and skills in risk professionals. They have a technical expertise and a strong foundation in methodologies.

[5:01 ] Manjit says risk professionals identify not just the basic operational and financial risks but strategic risks and mitigation risks. There is so much M&A happening in every sector. Their technical expertise is very important.

[5:22 ] Manjit explains, they are really good at data analysis and modeling, and making that data and a large volume of information into something that matters, that decision-makers can use to make great decisions, and think about the pros, the cons, and sometimes the blind spots.

[5:57 ] The risk officers Manjit hires have her ear. She always likes them to be at the table. She wants their perspective beforehand rather than after. They are good at listening, taking it all in, succinctly communicating, and helping with stakeholder management.

[6:18 ] Manjit believes that with their business acumen and their wealth of knowledge from so many parts of the business, risk managers should be at the table all the time. She wants their input from the outset.

[6:42 ] Manjit believes that more business leaders with that viewpoint are coming up. It’s a matter of how long you’ve been an entrepreneur or founder. Manjit has been an entrepreneur for 26 years. She and her brother started when she was 19. The drinking age in Canada is 18.

[6:58 ] Manjit was studying engineering at the University of Calgary and came up with the idea of getting into the private label spirits business, and a couple of years later, the beer business. They started as a sales, marketing, and branding company, and then got into manufacturing.

[7:16 ] It went step by step. It was not overnight, by any means. She just started young and has been at it for a long time. With that time comes experience, knowledge, and understanding that there are a lot of smarter people than she, that she needs to collect around the table.

[7:34 ] At year four or five, she didn’t have the same perspective she has now. Founders and entrepreneurs in early stages are still figuring it out and don’t have the resources to have the same perspective as Manjit. As they gain self-awareness, they look to risk professionals.

[8:14 ] As a 19-year-old, Manjit says she had no concept of risk. She didn’t have money or a reputation at risk. Now, she has a lot more of those things, plus a list of a dozen more, that are at risk. A young person doesn’t think they’re risking anything other than time and energy.

[8:48 ] Manjit thinks time definitely makes all of us a bit smarter. 

[8:52 ] The risk professionals working for Manit work under the legal department.

[9:42 ] Manjit talks about her risk professionals. As a business owner, you want to have the confidence that you have someone there identifying risks, assessing the impact, prioritizing risks, developing mitigation plans, and assigning responsibility. The list goes on.

[10:18 ] In this day and age, things are changing so fast, from policy, regulation, and the labor environment. There’s a long list of things that companies need to be aware of. They can't just close their eyes. They have to have a plan.

[10:47 ] Manjit is an optimist. She wakes up thinking that where there is a challenge, there is an opportunity. She believes that when things are tough, there are a lot of problems to solve. That’s when great businesses are born. Great entrepreneurs are good at solving and discovering.

[11:29 ] RIMS Events! On September 18th, the 10th Annual Chicagoland Risk Forum will be held at The Old Post Office in Chicago. Register at ChicagoRIMS.org.

[11:43 ] On October 1st through the 3rd, the RIMS Western Regional Conference will be held in North San Jose at the Santa Clara Marriott. Th