Raising Cannabis Capital 0069: Kadin Academy

RaisingCannabisCapital Series features Kadin Academy founder Kyra Reed talking to Dan Humiston about the challenges that women in cannabis face.  Kadin Academy, a membership association that give women the tools they need to succeed in the cannabis industry.

Produced By MJBulls Media

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Dan Humiston:
Today's show is brought to you by 3c comprehensive cannabis consulting helps clients design build and optimize their cannabis business from initial assessment and planning through operational and ongoing management. To learn more about how their services are tailored to meet the unique goals and objectives of each of their clients. Go to 3C cannabis dot com and for a limited time 3C is giving all MJ bulls listeners an additional 10 percent off their fees just for mentioning that you heard it on the show go to 3C cannabis dot com.

Kyra Reed:
And yet if we look at a lot of the statistics women have a 30 percent faster return on investment a male faster they tend to be more ambitious. They're a good investment. And yet we have very very low numbers in raising that money.

Dan Humiston:
From Buminit media it's the MJbulls podcast a show about Raising Cannabis Capital.

Dan Humiston:
I'm Dan Humiston. And on today's show how this social media veteran is giving female cannabis entrepreneurs the tools they need to help them level the cannabis business playing field.

Dan Humiston:
Today we're continuing our Raising Cannabis Capital series with Kyra Reed CEO of Kadin Academy cure. Thanks for being on the MJBulls Podcast.

Kyra Reed:
Thanks so much for having me.

Dan Humiston:
Kadin Academy which I've learned Kadin means women in Turkish in Turkish.

Kyra Reed:
It's pronounced heading.

Kyra Reed:
But I didn't think that we would be able to push that so Kadin we ask your.

Dan Humiston:
Interviewer what he got that one wrong for sure. So thank you for. Thank you for pronouncing it Kaden. But you're an organization that helps women entrepreneurs succeed. But before we get into the specifics of how you do that let's talk about women in cannabis. I have two daughters one of them's in cannabis and there are not very many women owned cannabis businesses.

Kyra Reed:
Well actually the truth is that 57 percent of cannabis businesses are majority owned by women. That was a statistic that just came out a couple of months ago from New Frontier data. I was pretty shocked to see that. The truth is we're not getting the money that we need to scale up our businesses. We are not being hired in to sweep positions as we are qualified to and should be. So there is a tremendous amount of disparity. But when it comes to women in the workforce it's interesting when you start to pull back the curtain on it because women for instance get less than 7 percent of funding overall for startup companies and yet the data shows that women have a 30 percent higher return on investment. 30 percent faster. We have less turnover. We scale faster and we tend to be more ambitious. And this is a really interesting article from a fast company that came out last year that laid out all that data we're seeing that same kind of disparity in the cannabis industry. We have these incredibly powerful and ambitious capable women who aren't getting funded. So in fund raising overall women have very very low numbers. I know we're under 10 percent but we get very little bit all the money every year that's handed out in cannabis. Even lower. And yet if we look at a lot of this statistic women have a 30 percent faster return on investment. They scale faster they tend to be more ambitious. They're a good investment. And yet we have very very low numbers in raising that money. We've got a lot of work to do in this area. But for any women listening who are trying to raise money go do your research and arm yourself with the statistics that are out there that show that you are a good investment and don't lose faith. We're all out here fighting the same fight with you. Right now it is probably the biggest issue women entrepreneurs have in cannabis. Right.

Dan Humiston:
And I'll tell you that a lot of investors are looking for good deals that are women known cannabis deals because they'd like a woman known company in their portfolio.

Kyra Reed:
I agree and I practice several investors who have sought me out to look at my group. Hey you know we brought a woman on and wow she blew our mind. Oh yeah. The women we've brought on has become the best in our portfolio. So once they take that chance and they actually see what a woman can do it can be pretty mindblowing and move the needle. But if they don't get that chance to show that they get picked over time and time again. No. Yeah it is changing. You know a lot of it is hard work of the women in this industry.

Dan Humiston:
Well it should lead us to be optimistic.

Kyra Reed:
Tell us about how an academy is helping women as I said a lot of women are coming to the industry that don't have any business background. So what Caden is there for is to give them the one to one. Here's the one on one you need about making sure that your legal house is in order. And by the way since you're in cannabis you also need to know that when it comes to your finances this is how you set yourself up and because you're in cannabis here's what you need to know about 280. And on and on through marketing public relations finances and also advocacy How do you become an advocate. You are very fortunate to have a woman who was a civil rights advocate who recognizes the similarities cannabis and came on and actually taught a whole module in our course. We also offer things like group health insurance which is cannabis friendly. We offer discounts on professional services. We have several professionals who have put together 20 and 30 minute training videos for women.

Kyra Reed:
If you're building your first marketing funnel if you need to fill out your corporation paperwork bears education and learning to fill in the gap for things that women may not know they haven't been in business before.

Dan Humiston:
I want to take a minute to tell everyone about an exciting free opportunity that one of our former guests good harvest company is offering retail operators in cannabis brand managers in the adult use market. Good Harvest Company is preparing to launch a platform which uses customers buying and shopping behaviors to help brands effectively reach their customers. And for a limited time good harvest company will offer participating companies free access to their data in return for their feedback. To learn more. Good a good harvest.CO.

Kyra Reed:
When people become members they have access to this educational information through your website. Yes.

Kyra Reed:
Ok. And it is updated.

Kyra Reed:
Yeah. I'm looking at the Web site right now which is a great Web site.

Dan Humiston:
And I see here that it's only 20 dollars a month for people to become a member. Oh my gosh. It's a really good deal.

Kyra Reed:
Thank you. I've learned through my background in social media that there really is a long agenda when it comes to building this kind of an online community forum. And that making the information accessible so that women don't have big hurdles to jump over should just figure out what do I need to start my day. Should I be an LLC or should I be an S corporation. What is awaiting you. Why do I need to trademark my name. These are things that become huge pitfalls when you're starting a cannabis business. And where do you go. How do you find that information. Or maybe you don't have 500 dollars at this moment to go and hire an attorney to spend a couple of hours with you. Tell you this kind of basic information Bill anyway that we can help make them stronger and more knowledgeable and give them more confidence in approaching their business. I want that to be a low barrier entry.

Dan Humiston:
I think everybody is going to really appreciate that you are speaking in a minute ago about your community and building a community here. You really did that with your Facebook page. Tell everyone about your Facebook page and how that just sort of unfolded.

Kyra Reed:
So women entrepreneurs in cannabis is the name of the page. It was something I started as a marketing arm of Kate and academy but I was very fortunate to have incredible mentors come on board. When I started who were willing to share their information you are also willing to invite their friends into the group. And it was just kind of right place right time. There was not really anything that was building the need for women to be able to truly connect in a safe environment with one another and share resources. It just kind of fill that hole and with my background in social media and marketing I've grown communities before and I understood how to create an environment that would really provide the most benefit for women. So it was fun to forty five hundred members today.

Dan Humiston:
Oh my gosh. And there's members from all over the world too. It's not just when it's all over the world. It's like whatever the hot topic of the moment is it seems like it pops up on your Facebook page. It's crazy.

Kyra Reed:
Well we've been speaking with Harry Reid CEO of Kading Academy and all of their information will be in the MJBulls Web site including their Facebook page the link to their Facebook page. Kara thanks for being on the show today. This has been really insightful and it's something that's way overdue. So thanks for doing this.

Kyra Reed:
Thank you for giving me the opportunity to talk about it. Dan and thank you for your interest in what's happening with women in the industry. We appreciate your alliance.

Dan Humiston:
Well I have two daughters. It's about time. Something needs to be done. We are better together. We are fettered together. We are better together. Good luck.

Dan Humiston:
Let me take a second to think Trevett Hill for sponsoring today's show. Cannabis investors expect big returns from the companies that they invest in. Unfortunately not all cannabis investments succeed. Trevett Hill management team works with investors to help turnaround or in some cases purchased their underperforming portfolio companies to learn more go to Trevett Hill dot com.

Dan Humiston:
Thanks for listening to the MJBulls Podcast. To learn more about today's guests or to become a guest. Visit our Web site at hemp MJBulls.com. Today's show is produced by Buminit media with original music composed by Jamie Humiston. I'm Dan Humiston and you've been listening to BMG MJBulls Podcast.

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