Success Stories Of Minorities In Cannabis C-Suite: 'The Future Of Cannabis Is Female'

"Much like the plant, the future of cannabis is female. I absolutely see major growth over the next 2-4 years, albeit slowly in terms of cannabis funding. It’s still the biggest barrier for women-owned brands, who currently have access to only 2.6% of cannabis funding," says Tiffany Woodman, the Puerto Rican/Italian founder and CEO of Canna Bella Lux.

In a recent interview with Benzinga, Woodman shared her inspiring journey of building Canna Bella Lux, a femme-forward, cannabis-inspired "high-brid" boutique and lifestyle brand in Chicago, IL. With a vision rooted in love, inclusivity and financial success, Woodman has steered her company through challenges, celebrated successes and contributed to shaping the future of women in the cannabis industry.

See Also: Empty Rhetoric Or Genuine Progress? Tiffany Woodman Challenges Cannabis Companies On Women's Equity

Leading with Love, Innovation And Proven Success

Woodman's journey began almost five years ago with a dream and a few credit cards. Through an unwavering commitment to values and community, she has turned Canna Bella Lux into a proven success, both financially and in fostering a community of women, weed enthusiasts and wellness advocates. Woodman emphasizes the importance of authenticity. "By sticking to our values, we’re showing that brands with values and a real face/people, not simply a corporate concept, are the true winners. CBL is inviting everyone to our entire house, not just the table."

Strategic Positioning and W.E.E.D. Mission

Discussing strategic decisions, Woodman introduces the "LUX" life mission of Canna Bella Lux, which stands for leading with love, uplifting others and being extra. The brand's commitment extends to the acronym W.E.E.D. See You, symbolizing Women, Experiences, Education and Diversity. "W.E.E.D See You really reflects our passion for sharing weed, wellness, and wisdom with others, whether connecting Bellas together personally, professionally, or both," she explains.

Canna Bella Lux's approach involves strong marketing, innovative products and intentional branding, as seen in their thought-provoking strain names like "How's Your Head (HYH)," "Equal Pay (EP)," and "My Body, My Choice (MBMC)." Woodman highlights the brand's creative freedom. "We may not have the deep pockets of corporate cannabis, but our secret weapon is our creative freedom. We thrive on innovation, crafting unique products that resonate with our incredible community."

Navigating Challenges And Pivoting During COVID-19

Opening a brick-and-mortar store eight weeks before lockdown presented a significant challenge for Woodman. Her vision for a high-brid boutique, a physically safe space for women to explore cannabis, faced unexpected hurdles. However, Woodman's resilience and connection with the Canna Bella Lux community became pivotal. "Women kept me open and shopped small. They’re the reason I’m here today," she says.

Financial challenges, particularly in the cannabis industry where traditional funding avenues are limited, have been a consistent hurdle. "I used my savings and both business and personal credit to start up, with no investors. There are benefits to both, but for me, having control of my decisions has been a big payoff, worth the financial challenges. It was a risk, but it’s been worth it."

Innovation in the C-Suite: The Big Wig Energy

Discussing innovation in the C-Suite, Woodman points to the development of "The Big Wig," the first rose petal pre-roll in Illinois. Working closely with the Helios Labs staff, she highlights the importance of hands-on collaboration and transparent processes. "Our Big Wig started off with a completely different process, size, and SOPs. By listening, trial and error, time, margins, we decided we’d rather sticker a new size on packaging and be transparent about the process," Woodman explains.

See Also: The 1937 Group Affiliate, Helios Labs, Opens Funding Round To New Investors To Expand Production Of Legal Cannabis In Illinois

Fostering Diversity And Inclusion

As a minority executive, Woodman advocates for collaboration over competition. She emphasizes the strength that comes from unity. "If you have five stars in the sky, are they going to shine brighter light years apart, or when they’re close together? Together, of course." Woodman shares her approach to breaking into conversations, making space for others and fostering inclusivity. "Gatekeeping isn’t cool and comes from fear, so I try to lead with love, talk to strangers, and create common ground," she adds.

Sustainability And Responsibility: Redefining Luxury In Cannabis

Woodman expresses a commitment to redefining luxury by prioritizing sustainability and environmental responsibility. Canna Bella Lux utilizes packaging made from post-consumer recyclable materials, demonstrating that being a part of the "LUX" life means being a good steward of the Earth. "It’s LUX to recycle, think about the environmental impact, and recognize you don’t have to lose your brand aesthetic for sales," she said.

See Also: EXCLUSIVE: Funding An Inclusive Cannabis Future, 'Build Relationships With Intentional People'

Advice For Aspiring Leaders In The Cannabis Sector

Woodman advises authenticity and a willingness to get uncomfortable. "If you worry about being liked by others, you’re not going to make the changes that you want to see."  Woodman emphasizes the importance of listening, to others, one's own instincts and pivoting with positivity. "Find the advantage in the disadvantages, lead by example, and make decisions that help you sleep well at night," she concludes.

Tiffany Woodman's trajectory with Canna Bella Lux underscores the power of vision, resilience and steadfast values in professional journeys. Navigating the dynamic cannabis industry, her story serves as an inspiration for aspiring leaders, encouraging them to confront challenges, champion inclusivity and redefine success in the C-Suite.

Stay tuned for more articles delving into the success stories of minorities in C-Suite roles within the cannabis industry.

All Images are courtesy of Canna Bella Lux