Jeff Stevens is familiar with the CEO title; in fact, he’s led many companies across industries. Stevens finds himself at the helm of Psyched Wellness, entering the supplement market with the historic Amanita Muscaria mushroom.
Stevens was raised in Toronto’s Beaches neighborhood and later studied at the University of Toronto. Upon finishing his undergraduate degree, Stevens went on to work in trading at one of Canada’s largest banks.
After more than fifteen years in sales and trading, he leveraged his business acumen to build smart teams, raise capital and take companies public, which he still does today.
Challenges and Opportunities
A career in finance is not always easy, especially in today’s fast-paced environment, so if anyone knows a thing or two about the need for rest and self-care, it’s Stevens.
“I watched many of my counterparts ignore their health or burnout by not taking care of themselves,” said Stevens. “It took some time, but to play the long game, I knew I had to prioritize my health, which is why my new work with Psyched Wellness hits so close to home.”
It’s not a mystery that the modern workforce is coping with stress and burnout, all while the world speeds ahead. In fact, nearly half of Americans are coping with sleep deprivation and stress is rampant amid layoffs and a volatile market.
Today’s consumers and entrepreneurs alike are looking for healthy solutions and that’s why Psyched Wellness’ research is so timely. Stevens and his team have invested heavily in research and development to build out a line of products derived from the Amanita Muscaria mushroom, starting with their flagship product, Calm.
Calm is the first legal Amanita Muscaria extract available for sale in the United States and a significant stride for medicinal mushroom treatments in the market.
Stevens and his team have made a significant investment in research to educate the public about their work. “Amanita Muscaria is a very special mushroom with more than five thousand years of historical use, yet is commonly misrepresented as poisonous, so it requires a lot of education for those who may not be aware of its potential health benefits,” said Stevens.
“We have been partnering with the National Research Council of Canada to study the mushroom’s benefits, and we’ve released several of those findings this past year, with more to come. On top of that, we spent two years conducting scientific studies with KGK Sciences to understand the product and how it would be received in the market.
We compiled that safety data and had it reviewed by an independent peer group, and then we received our approval to go to market. We’re unique in this space though, because we’re the only company that has spent the time and money to get the scientific data together.”
Advice for Aspiring Entrepreneurs
Stevens has been in the financial industry for more than twenty years and has a wealth of experience to offer his counterparts, especially those who may be joining the sector in a time of uncertainty.
His advice to new entrepreneurs and financial leaders focuses on becoming excellent at your core skill set and maintaining your skills as you advance in your career. With time, you can apply those skills to areas you are passionate about.
- Have confidence in your idea, especially if you’re in a new space.
Stevens moved into leading and building companies after success in another industry. That was an education but drawing on past experience helped him navigate the new space. Now, with Psyched Wellness, his team is working in the wellness space with a product that faces regulation and unique marketing challenges.
Again, his confidence in the product and how they have launched from quality research, combined with his experience, helped maintain a clear-eyed and grounded approach about their next moves.”
- Never underestimate the power of learning more.
“So many times as a CEO, you’re faced with tough decisions that need to happen fast,” said Stevens.
“If you’ve built on a foundation of knowledge, if you’ve supported your brand and products with deep research and learning, those fast decisions are rooted in a well-developed position and understanding.”
- Know more than your own market.
“As we bring Calm to market, we are closely watching other similarly regulated products like cannabis. From advertising restrictions to distribution, there are parallels there we are paying close attention to.”