E39: From Real Estate to Cannabis: Josh Joseph's Entrepreneurial Journey
Dec 3, 2024
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Josh Joseph, Founder and CEO of Big Plan Holdings, shares his vibrant journey from real estate to cannabis and beyond. After a monumental exit valued at $850 million, he reveals lessons on leadership and resilience. They discuss the evolving landscape of Nashville and his diverse ventures in entertainment and hospitality, including partnerships with major icons. Additionally, Joseph reflects on generational wealth, parenting shifts, and the importance of maintaining a strong work ethic amidst prosperity.
Josh Joseph emphasizes the importance of strategic leadership shaped by mentorship and understanding team dynamics for business success.
His transition from real estate to the cannabis industry underscores the value of adaptability and leveraging existing expertise for growth opportunities.
The journey into hospitality and founding the Joseph Family Foundation illustrates his commitment to family legacy while exploring diverse investment avenues.
Deep dives
Adopting a Leadership Style
Successful leadership is often shaped by learning from past mentors and leaders. By observing what works and what doesn't, one can develop their own unique approach to leadership. This includes understanding employee psychology and the dynamics of human interaction, which are crucial in managing teams effectively. Ultimately, it’s about placing the right people in positions where they can thrive, emphasizing that people and relationships are at the core of any business.
Navigating the Transition to Nashville
The significant move to Nashville was driven by a professional background rooted in real estate, providing fresh opportunities within a rapidly evolving market. Initially drawn to Nashville for its vibrant culture, the speaker found potential in the city's real estate landscape, particularly as it became more commercialized. His long-standing desire for personal and family growth also fueled the decision to settle there. The arrival in Nashville in 2019 marked the beginning of a new journey, spurred by a combination of personal passion and strategic business opportunities.
The Rapid Rise in Cannabis Industry
Entering the cannabis industry in 2014 marked a pivotal shift from traditional real estate ventures to a burgeoning and lucrative market. The ability to secure medical retail licenses in a competitive landscape demonstrated the speaker's strategic foresight and industry knowledge. The rapid scaling of the business—from a few employees to over a thousand—exemplified a successful venture that leveraged existing real estate expertise. This journey highlighted the synergy between cannabis operations and real estate investment, emphasizing how market knowledge can create significant opportunities.
Lessons in Team Dynamics
Team dynamics play a crucial role in the success of any venture, particularly in fast-paced environments like the cannabis industry. As the business scaled, challenges arose that tested relationships and exposed underlying tensions within the team. Conflicts over direction and decision-making underscored the importance of communication and shared vision among partners. Navigating these complexities further reinforced the lessons learned about collaboration and the significance of aligning goals within a team.
Transitioning to a Family Office
After a successful exit from the cannabis industry, transitioning to a family office structure became a new focus, allowing for both investment diversity and flexibility. This evolution enabled the speaker to explore new verticals like hospitality, while maintaining connections to past experiences in real estate and entertainment. The decision to include family members in the business reflects a commitment to building a legacy and integrating personal interests into professional endeavors. This multi-faceted approach reinforces the value of adaptability in an ever-changing market landscape.
Embrace Work Ethic and Community
Fostering a strong work ethic and accountability is emphasized as essential for success in any professional field. The current trends of disengagement among some young professionals highlight the urgent need for fostering pride in one's work and accountability to the organization. Building relationships and maintaining a positive reputation within the industry emerge as vital components for long-term success. The speaker's belief is rooted in the understanding that hard work and dedication ultimately define one's career trajectory and impact on their community.
In this episode of the Matthews Mentality Podcast, Kyle sits down with Josh Joseph, founder and CEO of Big Plan Holdings. They delve into Josh's diverse career journey, spanning real estate, cannabis, and entertainment. After making a pivotal exit from the cannabis industry valued at approximately $850 million, Josh shares insights on leadership, drive, and navigating life's challenges. Additionally, they discuss his move to Nashville, the founding of the Joseph Family Foundation, and new ventures in hospitality featuring partnerships with icons like Hank Williams Jr. and Jon Bon Jovi. A story of relentless ambition, strategic investments, and personal growth.
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