10K80 by Julia Ismail April 16, 2018
Jane West has been moving mountains in the cannabis industry for a minute now.
First, she co-founded Women Grow in 2014, creating an entire network of female entrepreneurs interested in working and becoming involved in the marijuana industry. Then, she extended her talents over to her current luxury and lifestyle cannabis line, Jane West.
In February, she launched a campaign through Republic, seeking $1.07M of investments by April 20th. This isn’t the first time the brand will see such a large amount of funds heading their way. The company itself has raised $1 million when it first launched, allowing room for an extended product line and business opportunities to grow.
In an interview with CashinBis, West spoke about her main purpose for launching the campaign and how she hopes to make it possible for everyone to dip their toes in the cannabis financial pool saying,
“Cannabis is for everyone, and the ability to participate financially should be too. Through equity crowdfunding, we’re able to democratize the incredible financial opportunity available in cannabis. We want everyone, regardless of their resources or background, to be part of the most important new industry to emerge in our lifetime.”
The line is now 85% held by women and people of color. The current funds raised will go towards extending the product runway and employment positions.
“While we’re already among the most recognized cannabis brands in mainstream culture thanks to the media coverage we’ve received over the past few years, we’re eager to bring our products and accessories to many more cannabis consumers across the United States and internationally. That will include a significant presence in some of our favorite brick-and-mortar boutiques and expanded e-commerce availability.”
In 2017, the company launched its first line of proprietary and cannabis Jane West branded pieces. During a Women’s Grow summit in June, Jane shared what learned during the come up, as well as the takeaway lessons she would pass onto herself a year ago, had she a chance.
As an entrepreneur who paved her path to a successful place in the contemporary industry, Jane’s 2017 Women’s Grow summit speech, Note to Self, reflects on the trial-and-error tactics that led her business to its booming success today.
Pretending that she was speaking to her past self, and cracking on herself that she was probably high during the entire encounter, she passed on the wisdom to a room filled with eager observers. She explained,
“I’ve learned so much in the past year and changed my perspective on just about everything. We know that successful companies are all about the people. And there are thousands of people with checkbooks, but there’s only one you.”
In 2016, the line raised $1M in capital, which powered up the brand enough to release its first series of resources and high-end luxury products.
“Only actually building your company will teach you how to: Develop your instincts, evaluate people, learn the lingo and learn the rules, written and unwritten to help you succeed.”
Jane touched on how long the process would take to get your business off the ground, adding that although her expectations weren’t met at certain times, the company was able to persevere.
“You think you’re going to have this thing closed in 3 months. But you have actually no idea how to get investment dollars in a pre-revenue company. It is so much harder than you think. It’s going to take a lot longer to comprehend, and it is going to leave you crying. Inconsolably.”
When it comes to investors, she shares some expert advice that no matter who you’re facing, it’s important to remember that no matter what, your product is the prize.
“Anyone can call themselves an investor. Anyone… There are thousands of people with checkbooks, but there is only one you. And your team is unique, one of a kind. And you are going to invest your life into the success of this company. You are interviewing them for the opportunity to work with you.”
The only right way to build a company would be through your experience gained. Though online resources can be effective when it comes to motivation and research, it doesn’t do much to benefit the actual results that you see as your revenue grows.
“When you spend your time reading Medium, Inc, Entrepreneur, know that you are doing that for entertainment. There is not a single listicle or blog post that you’re going to read this year that will suddenly tell you what you actually need to know to build your company.”
Her advice may seem like basic confirmation of “never give up, keep going,” upon first listen, but she adds her own spin of originality and validity, mentioning that everything she learned about starting her company was from experiencing it through her own eyes.
“Only actually building the company will help you: Develop your instincts, evaluate people, learn the lingo and learn the rules, written and unwritten that you’re going to need to succeed.”
No matter how difficult it gets, she leaves all entrepreneurs with advice to keep going, to keep pushing on and keep strategizing.
“Keep building your company. Everything you can do, anything you can leverage to keep building your company without capital, do it. You cannot stall and you cannot lose momentum in the abyss of eye gouging investor calls.”
But all of this would be meaningless without the brains working behind the product. She cherishes her team, mentioning that without them, they wouldn’t be where they are now.
“It’s the foundation. It’s the energy of the company.”
Jane will continue to make entrepreneurial strides as she allocates the funds raised towards her company’s future. Becoming a stakeholder in the company is a still a possibility for as little as $100 until April 20th.
To get involved with and learn more about the campaign, visit here.