With MJ Biz Con coming next week I was struck by some of the women who are making a great impact on this dynamic industry. I recently had a chance to go one on one with Beth Stavola COO/ President of MPX Bioceutical Corporation.
She is one of few women in the cannabis space with a C-Suite title. In 2017 Cannabis Business Executive named her #3 on their list of Most Important Women in Cannabis.
RWN: How has your financial background helped for this endeavor?
Beth: I worked on Wall Street for most of my career in institutional equity sales which taught me a lot about putting deals together, how to pound the pavement and always keep my clients’ best interest in mind. I’ve built on these skills as an avid entrepreneur and have tried to move the industry forward by educating politicians and key stakeholders about the benefits of cannabis and forging financial relationships, which are so important to this industry. We as a company stay committed to providing patients with dosable and reliable medicine.
RWN: Any insights to others on running a cannabis operation?
Beth: Because this industry was [is] in the black market for so long, there are a lot of unscrupulous people in the business and it’s important to prioritize knowing the people you do business with and hire honest, trustworthy people to work in your organization who will help you stay compliant with state-by-state regulations. Our industry has begun to attract great talent from other industries which is exciting and a great opportunity to take advantage of.
RWN: What do you like/dislike about the industry?
Beth: I love spreading the word about the healing benefits of cannabis for our patients. There are so many opportunities for growing the business that it’s sometimes hard to decide what to work on first. I’m very excited about the amount of jobs this industry is creating and will continue to add. I am concerned about the banking challenges we all face due to the federal illegality, but am hoping that as more states come online, we will see a change in awareness.
RWN: Why did you get involved in cannabis?
Beth: I made a personal investment in a medical marijuana company. Once I obtained proper licensing in Arizona, I became very excited to see how we were helping patients and it became more than an investment, more than a job, it’s become a true passion. I am now an activist as well as an operator.
My mission has always been to holistically help others. I now participate in conferences that aim to accelerate cannabis research and innovation, so I can provide my customers with new products that offer the benefits of all of the cannabinoids, not just strictly CBD and THC. Additionally, women-owned and operated businesses are the minority in the cannabis industry, so I also focus on sponsoring organizations that promote and elevate women in this industry.
MPX will be exhibiting at MJ Biz Con in Las Vegas and you can be sure it will be a busy week for Beth.
The Institutional Investor Conference is a new feature at MJ Biz Con and will be held on Tuesday November 12. This all-day event will feature the most experienced investment pros from the world of cannabis. Among those speaking will be my good friend Matt Hawkins of Cresco Capital who is on two their second fund already. A cocktail reception will follow the days events and then the big party begins with MJ Biz Con.