The Unglamorous Side of Being a Founder: Embracing the Reality Behind the Scenes
Part 1 / 5
mimi.
June 22, 2023
Hi there!
I would like to preface that I want you to get to know me, so this initial 5-part series will be…extensive. This will be unconventional in approach and not what you should expect going forward. In the future, posts will be periodic and contain concise highlights of insights and conversations with other founders that I hope will resonate with you, inspire a moment of thought, or teach you something that you can apply to your journey.
Let’s start off by jumping into the deep end. I want to share a side of my story as a founder that I’ve never told before. This is a scary and painful step, but I believe necessary. My intention for The Founder’s Edition is to contextualize the stories of entrepreneurship with realities that aren’t just shiny soundbites or shortcuts to success. I will be going into deep conversations about uncomfortable truths and vulnerability with other folks – but I need to take that first step myself. So here we go.
I never thought I would be a founder. Throughout my childhood, I was not outspoken. I didn't have the ambition to create. I didn't have the vision to build. My strengths did not lie in innovation or leadership, but in discipline, in pleasing others, in doing things the 'right' way. My definition of success was following instructions to a tee.
In my past, I envisioned founders as dropout geniuses, standing with confidence on a stage declaring world-changing ideas. To be honest, I always envisioned a white male playing that role. The narrative of high-profile successes and achievements always held a strong presence in my mind.
I’ll skip over the mundane details of my career leading up to starting a company, save for the fact that I had become disenfranchised by a corporate lifestyle and the need to follow unspoken rules. I hated the expectation of “face time” and acting busy for busy-ness’ sake. I felt disconnected with my work and felt strangely hollow - the title, role, and salary did not make up for the fact that I was utterly unfulfilled with my life.
Somehow, the years spent behind a desk ignited a spark within me, a little voice that said, “Why not? I can start my own business”. And in fact, my time in investment banking became the catalyst that fuelled an entrepreneurial spirit that I didn’t know I had, which came from the desire for autonomy, meaningful work, and the opportunity to create something that resonated with me. The frustrations I experienced within the corporate world only solidified my resolve to take a risk and embrace a less predictable path.
Lesson: planning out your life without lived experiences doesn’t work. Being open to opportunities and following your instinct can shift your entire world in ways you could have never predicted.
It was the summer of 2018, just over a year after I had joined a cannabis startup doing corporate development. I was at a tipping point and anxious in all kinds of ways. Usually when I tell this story to folks, I say something like – I saw an opportunity and the timing was right, so I quit and did my own thing, etc. This is not untrue, but the part I fail to mention was my deep frustrations that served as extra motivation. I was working so hard that it made my days in investment banking look like a vacation. Except I was making a fraction of the money, and mostly isolated from other teams. This difficult period, known only to my husband, had me frequently breaking down in tears from anger or sadness and feeling as if the weight of the world was on my shoulders. To add salt to the wound, while those around me were amassing fortunes, I was not taken seriously enough to merit a raise.
Cannabis regulations in Ontario, Canada’s largest market with a population of over 15 million, were changing after the governing body announced a shift to a private retail model. This opportunity became the driving force for the decision that would forever change my life. Joining forces with a close friend who became my co-founder, we launched Superette, a fresh take on cannabis retail.
Ta da, my first baby was born!
Starting a company is a funny thing. For those who’ve never done it before, starting a company seems almost mythical. However, those who have taken the plunge know that all it really takes is acting on an idea and formalizing things along the way.
So what was our idea? We envisioned a superior cannabis dispensary brand and retail experience. We couldn't help but feel uninspired by even the most renowned dispensaries in the 'cannabis mecca' of California. Why should all dispensaries look and feel the same? Why couldn't cannabis be sold in stunning, comfortable retail environments, just like any other consumer product? These seemingly simple questions shaped how we approached what we eventually brought to market.
Initially, our plan was to establish a brand identity and secure a portfolio of leases that we would then collaborate on with an operating group. However, regulations flipped on us almost immediately after we started, forcing us to pivot our business model and strategy. At the time, we had already raised money from friends, family, and outside investors, buoyed by the exuberance of cannabis capital markets. We found ourselves at a crossroads: either return the money, having achieved nothing, or embrace the challenge and give the new framework our best shot.
We chose option 2 and quickly went from ideators to operators.
Part 2 next week: Creating opportunities to stand out and stepping into unfamiliar territory and initial operational lessons.
Thank you for being a part of The Founder’s Edition.