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This Angel Investor Has Funded More Than 150 Businesses. Here's What She Learned When She Started Her Own. Veteran startup investor Joanne Wilson shares her three biggest success tips.

By Robert Tuchman Edited by Jessica Thomas

Key Takeaways

  • Quitting can be the best motivator.
  • Challenging a burgeoning industry can be fraught with regulatory hurdles.
  • The future of brick-and-motor retail is lifestyle.

Joanne Wilson has invested in more than 150 companies focusing on women and Black and Brown founders. Now, the face of Gotham Gal Ventures is turning the spotlight on herself to challenge the cannabis industry and create an entirely new retail category.

In a recent episode of How Success Happens, I spoke with Wilson about Gotham Gal Ventures and Gotham, the new high-end cannabis concept store she recently opened in New York City. I was curious to learn how this angel investor, serial entrepreneur and passionate team builder leveraged her track record of investing in hundreds of startups to become a business owner herself. Listen to the full episode below, and read on for three key takeaways from our conversation.

Related: He Decided to Join the Marines on 9/11 and Deployed 3 Times. Now, the Leadership Tactics He Learned Are Helping Him Grow a Spooky Business.

Quitting can be the best motivator

The Great Resignation might have had a moment, but Wilson has always been a self-proclaimed reinventor. From retail buyer to early-stage angel investor to philanthropist, she views her current success as a culmination of "all my jobs." Now on her 18th career, Wilson shares how quitting without a safety net can be harrowing in the short term, but the long-term payoff can be transformative.

Timestamp — 6:18-7:31

Related: He Got 450,000 Newsletter Subscribers by Sharing 'Nice News' — Here's How

Challenging a burgeoning industry can be fraught with regulatory hurdles

Securing startup capital is hard enough, but what happens when the industry isn't federally legal? Wilson discusses the challenges of overcoming hurdles related to banking, insurance, politics and stigma while also creating opportunities for communities that have suffered the most from cannabis laws.

Timestamp — 24:10-29:10

The future of brick-and-mortar retail is lifestyle

After investing in lifestyle brands like Food52, Eater and Parachute Home, Wilson combined her passion for retail brands with her love of cannabis culture to create a concept store that harkens back to the heyday of shopping. Hoping to change the narrative around cannabis, she envisions a robust industry that bridges lifestyle, wellness and recreation.

Timestamp — 31:32-33:12

Related: It's No Longer About Competition or Cooperation. This Is the New Force That Is Driving Business Success.

Robert Tuchman

Entrepreneur Staff

Host of How Success Happens

Robert Tuchman is the host of Entrepreneur's How Success Happens podcast and founder of Amaze Media Labs the largest business creating podcasts for companies and brands. He built and sold two Inc. 500 companies: TSE Sports and Entertainment and Goviva acquired by Creative Artists Agency (CAA).

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