Female entrepreneurs: Do you have an idea ready to become a business?
Stormy Simon wants to hear it. More on that in a bit.
Simon, the former president of e-retailer Overstock.com, left the company in 2016 to pursue other opportunities, which as recent headlines have pointed out, include cannabis legalization.
“Right now it feels like communities are further ahead in acceptance (of cannabis) in their states,” she told The News Tribune in a recent phone interview from her home base in Utah.
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She’s hopeful for more research on cannabis’ medicinal properties and the possibilities for reducing dependencies on pharmaceuticals such as opioids.
“As states such as Washington show what impact cannabis has on communities; it’s exciting when you think about the empowerment of people understanding plant-based medicine, and there will be a shift,” she said.
“We have tools to help ourselves that don’t include Pfizer.”
To that end, she’s been promoting cannabis not just through interviews but also in work with other business entities.
For example, she serves on the advisory boards of Los Angeles-based CannaKids, which offers cannabis oils and tinctures for patients of all ages, and LA-based KIND Financial, which, among other projects, works on developing technology and compliance solutions for the cash-based cannabis industry.
“States are operating in silos, which isn’t a business friendly strategy, but it is the right way for now for this industry because we are so far ahead of where the federal government is” on this issue, she said.
And then there’s the 5000 Club.
She puts up $5,000, challenging female entrepreneurs to turn it into $10,000 with their business. Her contribution makes her part owner in the projects.
The 5000 Club projects from women don’t necessarily have to be tied to cannabis.
In fact, she noted, there have been “no cannabis business submissions yet.”
You can send submissions to stormysimon(at)gmail.com with 5000 Club in the subject line.
No word yet on how many ideas will make it into the club, but she says her time now feels like “the beginning days of Overstock.” With one difference.
“It’s less stressful.”