It is not easy to raise marijuana capital, and this is especially true if you happen to be a woman. Even though, the corporate world is still not close to women achieving gender equality, there is one sector that is ahead of the game and that is the cannabis industry. Women make up about twenty seven percent of the executive roles in the industry since 2017 in comparison to the national average, which is twenty three percent. If you count business in the ancillary field, that number goes up to forty percent. This includes paraphernalia and apps. In addition, females hold about thirty five percent of positions in the executive level within marijuana dispensaries. And many start up business in the industry raise marijuana capital through venture capitalists or through angel investors. In some cases, marijuana capital exists through business incubators, which will often have provisional assistance as well as advice for startups for either equity or a small fee.
The CrowdFunding Strategy
Within the last ten years, there are new ways that people are using to raise marijuana capital. Some of those crowd funding methods include Indiegogo and Kickstarter. With these methods, entrepreneurs are allowed to set a monetary goal in an attempt to raise sufficient funds and they can even go a step further as to donate the amount that they diesire. Usually, the people behind the crowdfunding campaign offer gifts or prizes in exchange for receiving a donation. If you are an entrepreneur who is trying to raise marijuana capital, it is not common for you to offer partial equity to the donors. So be careful when making that decision. However, even with all these new strategies and methods, females still find it hard to raise marijuana capital in an industry that is dominated by men.
The Female Perspective
If you are a female and want to delve into this industry, it is best to be prepared, do your research and maintain your confidence. You also need a solid history, knowledge about the industry and you have to be street savvy. In addition, it is important to have a successful working relationship, be involved with networking, be persistent and appropriately using your connections as best as you can. You must have a passion for the industry and its benefits to consumers. Do your homework and take it seriously.
Everyone in the industry already knows that there are inherent obstacles to overcome, especially when it comes to raising marijuana capital since the market is so unpredictable and this is one of the issues that so many females face. The idea that there are so many unknowns is a challenge. For the female entrepreneur, there are slight handicaps to overcome as it relates to raising marijuana capital since there are few benchmarks and things to compare with. The female entrepreneur has to use a lot of creativity and imagination. This is usually very difficult, especially while in the act of trying to articulate it to the potential investor. And most times, these challenges are too enormous to be confident or get prepared. However, women do have access to several resources they can access to raise marijuana capital and for that reason, it is important to conduct research.
Breaking through the Barrier
If you want to break through the barriers as a woman, then you have to band together with other females in order to create resources like Pipeline Angels and Golden Seeds. These websites are female friendly as it relates to marijuana capital. There are other similar websites with lots of female resources such as Crunch Base, 37 Angels and Startup Funding. The industry is highly competitive and the Schedule 1 status as deemed by the federal government adds to the challenges.
One of the things that entrepreneurs can do to raise marijuana capital is to look for a mentor already in the business. You could also seek crowdfunding possibilities as discussed above. Try a business incubator that specifically tailors to the cannabis industry such as Canopy Boulder, Gateway Incubator or Greenhouse Ventures; among others. Attend investor conferences or access network of investors. Check out Pitch Forums and enter investor funding contests. One of the tried and true ways to get marijuana capital is to approach venture capitalist companies. Good luck!