Women in cannabis
During the Women Month in America we had a chance to chat with women owned cannabis brands and their leaders. They told us why they have decided to start this business, what difficulties they have faced and how exactly they overcame them. They gave us a bunch of great pieces of advice. Check it out below!
What do I need to start entrepreneurship?
If you plan to be an entrepreneur you need passion, motivation, a good idea, perseverance and a plan. You need to love problem solving and embrace that no two days are the same. Plan for things to go wrong and have an ability to work in chaos. Or as a good friend of mine says — plan for chaos before clarity.
Will I be able to start a business alone?
Sure you can start a business alone but if you can find a great, complimentary partner, I would recommend this route. It’s great to have a partner in success, someone to bounce ideas off and to not have to go at it alone. Starting and running a business can be exhausting and it’s reassuring to know you’ve got someone you can count and rely on, particularly when times get tough. I am grateful every day that I co-founded Kikoko with Amanda Jones. We’re as close as friends today as we were when we first launched Kikoko.
What made you decide to start a business in the cannabis industry?
After a friend was dying of cancer and wished for a cannabis product that she could trust and didn’t involve smoking, my business partner, Amanda Jones and I left our other professional careers and went to work to create cannabis products that would serve as alternatives to pharmaceuticals and alcohol, of which too many of our friends were reliant on or addicted to for sleep, pain, stress and anxiety, libido and mood.
What personality traits should every leader have?
I believe a leader should be resilient, positive, and love being in service to others both internally and externally. Running a company is about setting others up for success and being manically focused on both employee and customer needs.
What were the challenges you faced accessing funding?
Less than 2.4% of funding goes to women so this is a big mountain to climb. Next being in a federally regulated industry. We don’t have as many available funding sources or options.
What do you see as trends in the cannabis industry?
Fortunately I see cannabis trending towards being normalized and accepted in society, so much so that in the near future, we may live in a society where people won’t judge its use.
How did you deal with failure?
I don’t dwell on failures but instead I see them as opportunities to grow. I ask myself what can I learn from this situation and how can I apply that lesson in future. We’re all human and ‘mistakes’ are inevitable, so I recommend applying the learning, grow and move forward model. Dwelling on "woulda, coulda, shoulda,” isn’t going to deliver success.
What’s the best advice you ever received?
The best advice I’ve every received is to not expect to always have an answer but instead be comfortable saying "I don’t know” and then go and find the answer.
Do you think more women will enter the cannabis industry as owners? Growers?
Absolutely, just look around you and you’ll see an explosion of new cannabis businesses that are women-founded.
How did you pivot your business strategy during the pandemic?
Because we were already firmly in a mode of staying calm and positive, regardless of circumstances, we were not caught off guard when the pandemic hit. We took the time to work on keeping Kikoko stable and continued on our path of building on our success.
What do I need to start entrepreneurship?
A strong will, the ability to transition quickly, perseverance, determination, a good idea, and probably access to some funding!
Will I be able to start a business alone?
Yes but it can be very overwhelming to try and do everything yourself.
What made you decide to start a business in the cannabis industry?
I have worked with cannabis my entire adult life so it’s all i know. I also have a passion for the plant that drives me to work with her, to help others understand her and have access to her healing powers.
What personality traits should every leader have?
Integrity, passion, patience, good listening skills, good communication skills, calm in the eye of the storm, and empathetic.
What were the challenges you faced accessing funding?
Organizing our business enough to be able to shop for funding. It is also scary to not maintain full control of your company, so we have opted to grow organically and be a smaller startup with full control of all aspects. Kiskanu is still self-funded.
What do you see as trends in the cannabis industry?
I think more and more people will turn to edibles and body products. I also think suppositories will start to catch on once people start realizing how many applications they have for healing!
How did you deal with failure?
The cannabis industry is an exercise in dealing with failure! It occurs constantly with so many road-blocks, barriers and changing laws we are facing. We have learned to pivot and problem-solve like true professionals. It is not for the faint of heart!
What’s the best advice you ever received?
“It’s the little things you do every day that add up and matter” (maybe not the best ever, but i like this)
Do you think more women will enter the cannabis industry as owners? Growers?
I hope both!!!! I think working with a female plant is the perfect place for womxn.
How did you pivot your business strategy during the pandemic?
We have scaled back our marketing and event budget and focused more on our social media and starting our blog (where we have more control). We have also focused on direct to consumer sales, as many shops have closed due to the pandemic.