Ep 60 | Alex Friedman
Step by Step Process to Disrupting an Industry
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Alexandra (Alex) Friedman is the Co-Founder and CEO of LOLA, the first lifelong brand for a woman’s body.
The idea came about when Alex met her partner, Jordana Kier, and they started asking questions about what tampons are made from. In attempting to research this seemingly simple fact, they realized that next to nothing was disclosed online and they could hardly find anything about the chemicals they were unknowingly putting in their bodies.
At this point, they realized that something needed to change and started a company with complete product transparency at its core, creating their first product line of organic tampons. LOLA has now expanded well beyond tampons and provides feminine care products that address every stage of a woman’s reproductive life.
Alex and Jordana are on a mission to reshape the conversation around reproductive health and set a higher standard for ingredient transparency in our personal care products. The company has raised over $35 million from top-tier investors such as Spark Capital, BoxGroup, and Serena Williams, to name a few.
On today’s episode, we talk to Alex about what it’s like to raise money pitching tampons to a room full of predominantly male investors as well as key advice on what it takes to disrupt an established industry. Alex also touches on grassroots brand awareness, solving a problem rather than starting a company, and what new motherhood looked like as she was scaling a high-growth business, plus so much more!
Show Notes:
Learn about Alex’s childhood and how it has influenced her entrepreneurial journey. [2:35]
Find out how her career path prior to LOLA led her into the startup world. [3:44]
Hear the story of how she met her cofounder and had the idea for LOLA. [6:15]
The early stages of the company and what inspired her to “go all in.” [7:47]
Alex reflects on the capital raising process and why she found it so uncomfortable. [9:40]
The role that the education gap played in how Alex structured her pitches to predominantly male investors. [12:04]
How the idea for LOLA was received by her family, particularly by her sister. [14:00]
Why mentorship and feedback are critical for the growth of a business. [16:55]
How to create authentic brand awareness using focus groups and word of mouth. [18:41]
The value of creating a movement to motivate your community to spread the word. [20:48]
How LOLA met demand with a small and nimble team by buying a lot of inventory. [22:30]
Alex’s advice for women wanting to innovate in an industry they are passionate about: don’t just start a business, solve a problem. [23:06]
Challenges Alex faced with LOLA and how she overcame them, including stigma. [25:35]
LOLA’s transition from direct-to-consumer to omni-channel brand during COVID. [27:09]
What maternity leave looked like while scaling a high growth business. [29:30]
What motherhood taught Alex about leadership, including clear communication. [31:39]
Alex shares what she is most proud of: developing an extroverted side to engage investors and lead a team. [33:43]
What wealth means to Alex: having everything she needs and wants. [36:39]
Follow Alex:
Website: https://mylola.com/
Instagram: https://www.instagram.com/lola/
