Weed Bubble, Budsies, and Finding Mental Clarity
The Weed Bubble
The cannabis industry becoming as popular (and volatile) as cryptocurrency with companies such as Tilray with its stock exploding from $17 a share up to $300 in a couple months and then crashing down to about $145 in a matter of days. While it seems as though pot’s inevitable rise is upon us, the road to becoming successful has been a lot bumpier than expected even as more and more states adopt stances for legalization.
Major roadblocks stem from the financial side. Traditional financial institutions and federal regulations have hindered growth (pun intended). Whether it’s opening a bank account or securing an SBA loan, running a locally legal but federally illegal business is both tough and risky. Luckily private investment and small business financing firms are able to service the demand.
Turn your artwork into a Plushie!
Budsies CEO Alex Furmansky is an older brother. And being an older brother to his younger sister Michelle is exactly where his great idea for his Budsies business came from.
See, when Michelle was little, her drawings were tacked up on the fridge for the whole family to see. Over time, drawings after drawings were replaced. Non-hanging art was confined to a box in the basement. Furmansky wanted to keep the artwork alive. Not just his sister’s, but for all children.
The very first Budsie ever made (within the four walls of Furmansky’s own bedroom) was based of of one of Michelle’s drawings: a red character she named Dongler.
“Making a huggable world” is at the heart of the Budies revolution. More than 14,000 stuffed Budsies have been created. Now, Budsies Selfies is a thing and so is Petsies (stuffed animals of people’s beloved personal pets). Budsies product launched with The Gap and partnered with Joe DiMaggio’s Children’s Hospital, Mayo Clinic, and The Office Depot Foundation. Budsies budding press includes CNBC, BuzzFeed, The New York Times and more. Furmansky, standing in front of a table of his created artistic stuffed animals even wowed the panel on Shark Tank.
With a company like this, it’s a good reminder: with heart, any idea can become a great one. Check out his pitch on Shark Tank!
Finding Your Ground: The Mental Clarity You Need As An Entrepreneur
All the stress of being an entrepreneur! Stress of this magnitude can make or break you. Highs and lows of a high-stress, high-work load life can leave your spirit tanking and your body ragged. Forbes writer, Chris Myers, knows it well. He’s a high-stress dude. And, his passion for entrepreneurship only stokes his stress higher.
Awful for your physical health and your mental well-being, stress also begins to decrease any good chance you have at making a good decision. (Do you extra procrastinate when you’re stressed out? Then, you’re already familiar with this research!)
Myers learned to identify, isolate and eliminate “what if” thoughts. These are the kind of moments when you catch yourself envisioning some scenario that doesn’t exist in the real world...yet. When “what ifs” start rolling in, anxiety crashes down too. Cut those “what if” thoughts short.
Getting it all down on paper helps too. Write a list of everything you need to do. Vent every stress. Seeing these on paper helps you gain mental clarity. Now try this exercise. What on that list can you control? What can’t you?
You may be surprised at how simple exercises like these can boost your mental clarity and keep your stress from spiraling out of control.