Marijuana Business Magazine - May-June 2018

Wasserman wrote in the Harvard Busi- ness Review in 2008. But knowing when it’s time to give up the reins is not easy. “You have to learn to step out of the way,” said Andy Williams, who co-founded Denver- based Medicine Man. “That’s really hard for people to do. It’s kind of your baby.” As a serial entrepreneur, Williams should know. He co-founded Medicine Man in 2009 with his brother, Pete, to produce high-quality, low-cost medical marijuana. When Colorado legalized recreational marijuana in 2014, Medi- cine Man jumped in, opening three retail shops in the Denver area. As the years passed, however, Andy Williams realized he was no longer the best person to run Medicine Man. “You know it’s time when the work gets boring,” he said. “You have the company running on a routine basis.That’s the time you have somebody take your posi- tion. Most entrepreneurs aren’t happy in a CEO role; it gets monotonous.They envision the future and build the frame- work necessary to achieve it.” While Williams still holds the title of CEO, he’s no longer involved in Medi- cine Man’s day-to-day operations.That responsibility has landed on the shoul- ders of his sister, Sally Vander Veer, who took over as president in 2014. “I went into it knowing I wanted to work myself