Wisdom From The Women Leading The Cannabis Industry, With Susanne McDonald of Wild Lotus and Green Ventures Capital
An Interview With Candice Georgiadis
I’d like to raise the question: why not give patients an alternative that is non addictive, may help with the pain, and may give them the same type of relief that doesn’t have the same risk factors? This would be a great way for our healthcare system to address pain in a completely different way.
As a part of my series about strong women leaders in the cannabis industry, I had the pleasure of interviewing Susanne McDonald.
Susanne McDonald is a life coach and serves as the president of Wild Lotus and Chief Wellness Evangelist of Green Ventures Capital. Her passion for helping people, especially those with mental health challenges, stemmed from her own struggles with anxiety and depression for over 20 years. Susanne’s background, knowledge, and experience of the healing power of cannabis has led her to become a key opinion leader in the space that is conducive to bridging the gap between wanting and actually obtaining an optimal quality of life for all.
Thank you so much for doing this with us! Can you tell us the “backstory” about what brought you to the cannabis industry?
In 2015, my husband had an opportunity to start a CBD company. At the time, there was very little information about the benefits of CBD. Most people assumed that it was the same as marijuana. The more I learned about CBD, its intricacies, and its healing properties, the more excited I became.
One of the initial thoughts I had about CBD that led me to the industry was its potential therapeutic abilities and how it may have helped my mother who was suffering from Multiple Sclerosis, especially towards the end of her life when the quality of it declined drastically due to complications from the disease. I don’t claim that CBD would have been a cure, but I do believe that it could have helped improve her quality of life.
I also began regularly using CBD and experienced its benefits first hand. Since then I have become a huge advocate of CBD and the healing properties of the cannabis plant.
Can you share the most interesting story that happened to you since you began leading your company? Can you tell us what lesson you learned from that?
Entering the cannabis industry as a new player can be difficult. One of the major roadblocks we faced was with our brand, Wild Lotus. Marketing in the cannabis industry comes with many rules and regulations as far as what can and cannot be said/claimed on social media. We worked through these problems and learned very quickly that it is crucial to be cautious with our verbiage and to better understand the industry’s policies and regulations.
Can you share a story about the funniest mistake you made when you were first starting? Can you tell us what lesson you learned from that?
I can’t recall any funny mistakes but we did face a lot of challenges starting Wild Lotus and Green Ventures Capital. I guess the funny thing about it is where we are now and what our company has grown to become.
Do you have a funny story about how someone you knew reacted when they first heard you were getting into the cannabis industry?
It’s always such a positive experience when I tell people that I’m in the cannabis industry. CBD, hemp, and cannabis are hot topics right now. Most people tend to get excited once I tell them what I do, many are fueled by curiosity. I get asked all sorts of questions. So, it’s a great conversation starter!
One of the funny things that’s happened with our kids, who are in high school and college, is the inevitable question of what their parents do for a living. They answer that “We are the neighborhood drug dealers” and then go on to explain what we really do. They call it “the talk”. It’s always fun to hear what their friend’s reactions are.
None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful towards who helped get you to where you are? Can you share a story?
My husband, Mike McDonald. He taught me everything I know about cannabis and the industry. Mike is one of the most knowledgeable key opinion leaders within the space. The success that I’ve achieved this far has been an extension of his support and guidance. If I didn’t have him, there’s no way I would be at where I am today. He’s awesome.
Mike currently serves as President of Green Ventures Capital. He has been in the industry since 2015.
Are you working on any new or exciting projects now? How do you think that will help people?
Yes! My company, Wild Lotus, in conjunction with Green Ventures Capital, are working on several exciting projects that will ultimately change the future of the cannabis industry.
First, we are working with athletes and offering Name, Image, and Likeness (NIL) deals to partner and promote our brand/products. We have several products that are specifically designed for athletes.
Second, we are creating our own NFTs and securing our place in the metaverse. I firmly believe that this is the new way to share the presence of our products and create a community of like-minded individuals. The metaverse, cryptocurrency, and NFTs are the wave of the future and we are excited to be at the forefront of this movement.
How will this help people? Our NFTs can be a way for our community to talk and learn openly about the benefits of cannabis.
In addition, one of the options we are offering to the athletes in our NIL deal is a mentorship on owning your own business, investing (both with stock and with cryptocurrency), as well as learning about NFTs. We aim to help these talented young adults gain knowledge outside of what’s being offered in their college curriculum. I believe it’s a great way to help them in the long run.
Ok. Thank you for all that. Let’s now jump to the main core of our interview. Despite great progress that has been made we still have a lot more work to do to achieve gender parity in this industry. According to this report in Entrepreneur, less than 25 percent of cannabis businesses are run by women. In your opinion or experience, what 3 things can be done by a)individuals b)companies and/or c) society to support greater gender parity moving forward?
Low rates of female and minority participation is a pervasive issue within the cannabis industry. I believe that we need to tackle these glaring disparities by creating an ecosystem that equips female owned businesses to become self-sufficient industry leaders.
Additionally, we also need to open the floor for a conversation around the potential of cannabis in our personal lives. As women are often the caretakers of society, we are also the decision makers for our families and loved ones. Women talk to each other about health issues and educate one another about health solutions that have personally worked for us and/or our families. Still, there is a stigma attached to cannabis and most people think about THC as getting high, they don’t consider the benefits of cannabis. It is now up to us to teach each other about the medicinal benefits that can help us in our everyday lives. When the messaging about cannabis becomes about helping people, more women will become involved.
You are a “Cannabis Insider”. If you had to advise someone about 5 non intuitive things one should know to succeed in the cannabis industry, what would you say? Can you please give a story or an example for each.
- Be careful with the language around your products.
- Every state has their own regulations, so don’t fall behind on the ever-changing rules.
- Help educate your audience about cannabis. Public information is necessary in order for people to understand and buy your products.
- Properly educate yourself (and stay up to date) on both the scientific and legal differences between marijuana and hemp.
Can you share 3 things that most excite you about the cannabis industry?
I have been amazed at the ways that cannabis has helped the quality of life of people around me. One of the greatest rewards for being in this industry, is to see the improvement in others and celebrate their progress.
There’s so much potential and room for growth within the industry! We’ve only scratched the surface. I’m continuously discovering new information about new methods and data sets that uncover the benefits of cannabis. I think it’s incredibly exciting to learn about how cannabis can be a potential solution to heal your body naturally. There is a great demand for alternative medicine. With this current health-conscious trend, I’m seeing a demand for plant derived options. A natural and holistic alternative that works within the body rather than masks a problem.
Another area of excitement is cannabis regulations. Having it legalized nationally will help greatly reduce illicit markets for cannabis while simultaneously providing adequate regulation and to help keep communities safe. It can be difficult to sift through all the products being offered in the space. By regulating it, I’m confident that it will weed out the fluff and highlight companies like ours that produce quality products.
Can you share 3 things that most concern you about the industry? If you had the ability to implement 3 ways to reform or improve the industry, what would you suggest?
- Quality of products. There are so many brands out there that do not meet industry standards.
- Packaging and labeling. There should be a clear warning in each packaging of the dosage and strength. There are too many instances where consumers are unaware and take too much, thus adding more negativity to the stigma around cannabis.
- Misinformation. The lack of education between subjects such as CBD and THC can confuse possible consumers and we need to do a better job educating the masses.
What are your thoughts about federal legalization of cannabis? If you could speak to your Senator, what would be your most persuasive argument regarding why they should or should not pursue federal legalization?
I’m all for it. Rep. Nancy Mace introduced a bill that proposes the end of the federal prohibition. The States Reform Act will not only allow for interstate commerce, crossing legally from one state to another, which will positively affect the way companies operate. It will also provide for the resentencing of those with nonviolent federal marijuana crimes which promotes equality.
Notably, ending the federal ban will also allow states to determine their own laws, which will play a big role in how much cannabis will be taxed. Proposed cuts to cannabis taxes will help legal cannabis companies to stay competitive and push out the illegal market.
Today, cigarettes are legal, but they are heavily regulated, highly taxed, and they are somewhat socially marginalized. Would you like cannabis to have a similar status to cigarettes or different? Can you explain?
There is a lot of research that still needs to be done on this topic. However, it’s important to point out that there is a big difference between smoking or vaping as opposed to consuming edible cannabis products. It’s metabolized very differently. Inhaling marijuana still has many of the same harmful elements as cigarette smoke. I think smoking or vaping should face the same type of regulation as cigarettes. However, I don’t think taking THC in an edible form, such as a tincture or gummy, should be regulated in the same way.
Can you please give us your favorite “Life Lesson Quote”? Can you share how that was relevant to you in your life?
My favorite quote comes from Steven Covey’s book, The 7 Habits of Highly Effective People. “Seek first to understand, then to be understood.” This quote changed my life. One of the basic human needs is to be heard. When people are heard, they feel valued. If you are willing to listen to another’s needs, they will be willing to listen to you. This changed my marriage, it changed my approach to parenting, and it changed my relationship with other people in my life. Seeking to understand opens the door to communication, respect and love. It is also a reason I became a life coach. I saw that I could help people by listening and leading them to discover their own solutions. I believe that we all inherently know what we need to do to solve our problems. Sometimes all we need is someone to listen and ask the right questions. After this, we are empowered to create the solution that fits best to move forward in our lives.
You are a person of great influence. If you could inspire a movement that would bring the most amount of good to the greatest amount of people, what would that be? You never know what your idea can trigger. :-)
I would love to inspire readers to embrace the conversation around cannabis and its ability to improve the quality of life. We, as industry leaders, are responsible for better educating the public about the potential mental, emotional, and physical benefits of the cannabis plant.
For example, if a patient sees their doctor for surgery, doctors will typically write a prescription for opiates of some sort to help with pain management. Even mental health professionals turn to prescriptions in hopes of enhancing their patients’ lives. These sometimes-addictive drugs can quickly turn into a way for patients to numb their pain physically or emotionally.
This is an opportunity for cannabis industry leaders to teach new and experienced cannabis users and healthcare professionals about a natural alternative to potentially addressing health problems. It would be amazing to see healthcare professionals prescribe THC instead of opiates.
I’d like to raise the question: why not give patients an alternative that is non addictive, may help with the pain, and may give them the same type of relief that doesn’t have the same risk factors? This would be a great way for our healthcare system to address pain in a completely different way.
Thank you so much for the time you spent with this. We wish you only continued success!
