Joanne Wilson has invested in more than 150 companies focusing on women and Black and Brown founders. Now, the face of Gotham Gal Ventures is turning the spotlight on herself to challenge the cannabis industry and create an entirely new retail category.
In a recent episode of How Success Happens, I spoke with Wilson about Gotham Gal Ventures and Gotham, the new high-end cannabis concept store she recently opened in New York City. I was curious to learn how this angel investor, serial entrepreneur and passionate team builder leveraged her track record of investing in hundreds of startups to become a business owner herself. Listen to the full episode below, and read on for three key takeaways from our conversation.
Quitting can be the best motivator
The Great Resignation might have had a moment, but Wilson has always been a self-proclaimed reinventor. From retail buyer to early-stage angel investor to philanthropist, she views her current success as a culmination of “all my jobs.” Now on her 18th career, Wilson shares how quitting without a safety net can be harrowing in the short term, but the long-term payoff can be transformative.
Timestamp — 6:18-7:31
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Challenging a burgeoning industry can be fraught with regulatory hurdles
Securing startup capital is hard enough, but what happens when the industry isn’t federally legal? Wilson discusses the challenges of overcoming hurdles related to banking, insurance, politics and stigma while also creating opportunities for communities that have suffered the most from cannabis laws.
Timestamp — 24:10-29:10
The future of brick-and-mortar retail is lifestyle
After investing in lifestyle brands like Food52, Eater and Parachute Home, Wilson combined her passion for retail brands with her love of cannabis culture to create a concept store that harkens back to the heyday of shopping. Hoping to change the narrative around cannabis, she envisions a robust industry that bridges lifestyle, wellness and recreation.
Timestamp — 31:32-33:12