Finally, CBD products designed for active 50 and 60 year olds Today, people in their 50's and 60's are way more active and their needs are different than people in their 30's or people in their 70s. Denis Keane and Tom Lamb realized that 'Mid-Lifers" needs are not being met and decided to start their Second-Act to help others enjoy their Second-Act. They join Dan Humiston to talk about their CBD company Wisdom Essentials. Produced by PodCONX
Finally, CBD products designed for active 50 and 60 year olds
Today, people in their 50's and 60's are way more active and their needs are different than people in their 30's or people in their 70s. Denis Keane and Tom Lamb realized that 'Mid-Lifers" needs are not being met and decided to start their Second-Act to help others enjoy their Second-Act. They join Dan Humiston to talk about their CBD company Wisdom Essentials.
Dan Humiston: [00:00:00] Before we start today's show, we want to congratulate two of the other MJBulls Podcast on their one year anniversary over the last 12 months. Hemp Barons and the Deadhead Cannabis show have established themselves as Permira Cannabis podcast. And we're proud that Larry Mishkin and Jim Marty, the host of the dreaded Cannabis show, and Julie Beckerman, the host of Hemp Barons, trusted M.J. Bles to produce their shows and look forward to another great year. If you're not already listening. Check out Hemp Barons in the dead hit Cannabis show. MJBulls.com I tunes Spotify wherever you're listening now.
Tom Lamb: [00:00:36] And what we're looking for is really a great second, right? So we're a huge part of the growing population, not only in the United States, but around the world. So when we looked at the marketplace, we saw people living longer, living better, wanting more. Having the largest concentration of wealth.
Tom Lamb: [00:00:53] And as Dennis said, Happy's common kind of complaints of sleep, pain, cognitive health and anxiety. We put all of that together to create wisdom, essentials on the products that we're gonna bring to market from MJBulls Media.
Dan Humiston: [00:01:09] It's the Raising Cannabis Capital show. I'm Dan Humiston. And on today's show, how these two fifty something businessmen second act is to create products for other people's second act.
Dan Humiston: [00:01:35] Today in Raising Cannabis Capital, we have a great show, especially for people my age.
Dan Humiston: [00:01:40] We're joined by Tom Lamb and Denis Keane from Wisdom Essentials. Guys, welcome to the show.
Tom Lamb: [00:01:45] Thank you.
Dan Humiston: [00:01:47] Well, I've been really looking forward to having you on the show because Wisdom Essentials products are designed for people in my age group that, hey, I read this on your website. You referred to as modern midlife HR's. I don't know if they like that or not, but to get things started, can you explain to our listeners exactly who this group is and why it's necessary to have products designed specifically for us?
Tom Lamb: [00:02:10] It. Thanks for that question. A modern man, lifers, is more than age. It's much more about attitude and, frankly, opportunity and wisdom. Hence, the name was essentials. When we looked at the marketplace and we saw what our cohort is looking for and what the modern midlife or is specifically looking for. They want to feel good in the pursuit of their next acts. All right, Gary. Yeah, exactly.
Denis Keane: [00:02:34] Yeah. I think when we first started this thing, mix and timing, we're both in our mid 50s and but what was out there in the market really wasn't speaking to us. Seemed to be like they were going for people who were going to Coachella and up the road and south by Southwest, and they weren't really speaking to us and making products that were designed for our age group and frankly, our age group as the ones that could use CBD based products more than any age group, really.
Dan Humiston: [00:02:59] You know, our regular listeners know that I just love businesses and products with narrowly defined markets. And that's why I look for companies that are narrow and deep. I think what you guys are doing is so clever because, like you said, the market is is overwhelmed by basically me two businesses. You know, there's so many DVD companies essentially marketing that exactly the same people. And to define your market is a specific group. Happen to be a part of even though I hate to admit I'm a mid-life or it's I think you're on the right track. You started to tell us a little bit about your products. Can you tell me some more products that you have?
Denis Keane: [00:03:40] Well, yes, our products are geared towards what our age group, our modern vipers, tend to need more than anything. You can always use a little help with sleep. We can always use a little help with anxiety, especially in the days we're in right now. Larry, the world. So we're doing a sleep formulation, anxiety formulation, pain formulation, or our bad backs and arthritic risk. We're also doing a product called Focus, which is kind of more of a memory brain enhancement formulation, because personally, I have a quite a bit of dementia in my family and it's something that terrifies me. So those are basically the formulations we're starting off with.
Dan Humiston: [00:04:16] I think you're really onto something like I hate to admit it, that I'm writing things down, worry more than add to or otherwise I forget. And you're right, the anxiety at this time in our lives is this crisis going on is probably at an all time high. Yes. You know that the key points for our age, that's for sure.
Tom Lamb: [00:04:35] You know, we're not the old retired kind of geriatric people. We all have in our minds. Right. That we've all been kind of fed through throughout time. We're much more vital. We're much more active and much more curious and inquisitive than we've ever been before. We're living longer. We're living better, frankly. Our cohort own 70 percent of the wealth. And what we're looking for is really a great second half. Right. So we're a huge part of the growing population, not only in the United States, but around the world. So when we looked at the marketplace, we saw, look, people living longer, living better, wanting more. Having the largest concentration of wealth. And as Dennis said, had these common kind of complaints of sleep, pain, cognitive health and anxiety. We put all of that together to create wisdom, essentials on the products that were going to market.
Dan Humiston: [00:05:24] That's good. I love that second act. It's inspiring, right? More nearly halfway.
Denis Keane: [00:05:30] Well, when we were first starting this whole thing, we were sitting down kind of focus group and doing it all out. I was like, we're not dead yet. I just turned fifty six. I'm alive. I'm going. I want to learn new things and then try new things. And I think society is kind of lied to us and suspicious to the side. You guys are almost 60. You know, it's time for you to get out of the way. I'm not getting out of anybody's way. So I'm ready to go. And that's what we're building, a company around of people who want to be exuberant about life. But we have some aches and pains and some things we need to take care of a little bit of miles.
Dan Humiston: [00:05:59] That's all it is. We just got few.
Dan Humiston: [00:06:02] So, yeah, course there's going to be some bumps and bruises. I wouldn't take a quick break to play a preview of a special Cannabis and corona report.
Justin Brandt: [00:06:11] We were frequently fielding calls from multispeed operators trying to gobble up as many licenses as they can throughout the country. And now we're getting calls more so on the on the sell side. And I don't know that as a result of that. I think it probably is. And if you related to a cash flow issue I just received. Cannabis businesses trying to liquidate assets.
Dan Humiston: [00:06:38] Tune in on Thursday for another episode of Cannabis in Corona with Laura BIanche and Justin Brandt from BIanche and Brant. And now let's get back to today's show.
Dan Humiston: [00:06:50] Talk about your go to market strategy, like how are we gonna get this into everybody's hands?
Tom Lamb: [00:06:55] So we basically have a three pronged strategy that we want to go after. Obviously, e-commerce, because e-commerce is the way of the future and that's the easiest way to get scale and to reach as many people as possible. So we're building, you know, e-commerce platform right now and then bringing these products to market kind of one at a time. But, you know, quickly, but one at a time so that we're not wasting a lot of time or getting a market, getting our name out there and letting everybody kind of see who we are and get introduced to us. So e-commerce is one second is that we'll be looking at opportunities to kind of direct market to where the moderators lifers are standing there. You know, basically that's their second exit. So we're going to look for communities and states and cities where folks are going to pursue their next business or the next piece of education or wherever it is. Their next goal, you know, is. So we'll be looking at that specifically around places like North Carolina, South Carolina and Southwest, such, too. And then third is at some point we'll be doing some more traditional retail and dispensary distribution. And we've got a couple of partnerships that are lining up for us there by the end of this process. We'll have a three pronged retail strategy as far as our business plan is concerned.
Dan Humiston: [00:08:09] Yeah, I think that makes a lot of sense, especially the part about going to areas where we're heading. You know, we're getting away from the cold weather and, you know, moving down into the Carolinas. And in launching our second act there, I think definitely makes a lot of sense. Everything you just laid out, pretty expensive and fortunately is basically front loaded process. You get spend the money on all that before you start making any money. So we be raising capital to help fund the stage.
Denis Keane: [00:08:37] So right now, we have self-funded up to this point. Once we have everything there, then we will be looking raise capital to kind of add fuel to the fire. There's a million companies out there saying, hey, we're going to be doing CBD. And investors have kind of glazed over their eyes a little bit with that pitch. So what opposed to invest in a concept? We're going to have a real sales, real products for people to touch, feel. And then hopefully invest.
Dan Humiston: [00:09:01] I think that makes sense. Plus, you'll give up a lot less equity. If you take that or approach, you take on a little bit more risk. But like I always say, hey, if you're not willing to take on the risk, why should investors be willing to take on risk? You know what I mean. Exactly.
Denis Keane: [00:09:15] Yeah. And that's what most companies do. I start off with like, yeah, we like we want to raise a million bucks out of 10 billion valuation and it's all a pie in the sky concept. Nothing really touched. Feel where we felt. It's more honest, more ethical to actually do this and then show what we have and then try and raise capital from there.
Dan Humiston: [00:09:32] Tom, you started to say something to Dennis's point.
Tom Lamb: [00:09:34] We got some early feedback from some folks who basically said, look, Cannabis is a really hot topic and people say it's a proof of concept. I'll let us know what you're doing and where we believe we're doing all the right things. And having said that, we do have some investors on the side waiting. Dennis and I have decided not to accept their money until we've got the platform 100 percent built, which we're getting close to now. We're really close to getting our first product in the market and then kind of put more fuel into the company. We'll probably accept some money in the, you know, in the next quarter or two.
Dan Humiston: [00:10:07] Well, definitely, when you guys are at that stage, we'll have you back on. In the meantime, we'll have all of your information in the show, notes in an AMG Bulls dot com. So if you know somebody listening right now and say, hey, you know, keep me in mind, you know, they can follow up with you after the show and we can talk further about it. Tom Dennis, thanks again for being on the show. This is exciting.
Dan Humiston: [00:10:30] Act two. I love this. I love the second act. I love it.
Denis Keane: [00:10:34] Thank you so much. You were great. No problem.
Dan Humiston: [00:10:38] Today's show was made possible by the generous support of our sponsors, like all 36. The country's premiere block chain payment processing platform that's providing dispensaries and its customers with a safe and secure payment option other than cash. To learn more, go to. All 36 DOT. Today's podcast was produced by MJBulls Media, the industry's premier Cannabis podcast network with original music produced in part by Jamie Humiston.
Dan Humiston: [00:11:05] I'm Dan Humiston and you've been listening to the Raising Cannabis Capital podcast.
*IMPORTANT DISCLAIMER*
THIS IS AN AUTOMATED TRANSCRIPT AND THERE MAY BE INACCURATE AND OR INCORRECT COMPUTER TRANSLATIONS. DO NOT RELY ON THIS OR ANY TRANSCRIPT ON THE MJBULLS MEDIA WEBSITE.