Alex Friedman is the co-founder and CEO of LOLA which is the first lifelong brand for a woman’s body, providing the transparency and candor women deserve when it comes to products and content for their reproductive health. The company has raised over $35 million from top tier investors such as Lerer Hippeau, Spark Capital, BoxGroup, and tennis player Serena Williams to name a few.
In this episode you will learn:
- The traits of great Venture Capital firms
- Ways to build powerful networks
- The potential behind consumer markets
- Messaging and driving awareness
- How do educate investors
For a winning deck, take a look at the pitch deck template created by Silicon Valley legend, Peter Thiel (see it here) that I recently covered. Thiel was the first angel investor in Facebook with a $500K check that turned into more than $1 billion in cash.Moreover, I also provided a commentary on a pitch deck from an Uber competitor that has raised over $400 million (see it here).
Remember to unlock for free the pitch deck template that is being used by founders around the world to raise millions below.
ACCESS THE PITCH DECK TEMPLATE
About Alex Friedman:
Alex Friedman is the co-founder of LOLA, the first lifelong brand for a woman’s body.
LOLA aims to address every reproductive life stage with a commitment to product transparency and a community built on candid dialogue about all of the things we don’t openly talk about.
Before founding LOLA with her co-founder Jordana in 2015, Alex Friedman led analytics at Flurry Analytics (acquired by Yahoo in August 2014) and was a consultant at Boston Consulting Group in New York.
Alex Friedman has an MBA from Wharton Business School and received her undergraduate degree from Dartmouth College.
Over the years, Alex Friedman has been actively involved in the Young Women’s Leadership Network, an education non-profit.
Connect with Alex Friedman:
* * *
FULL TRANSCRIPTION OF THE INTERVIEW:
Alejandro: Alrighty. Hello everyone, and welcome to the DealMakers show. The founder that we have today, a female founder, really, really accomplished; I think that we are going to learn a lot from her, especially when it comes down to educating investors on a product that maybe they’re not going to be using. So without further ado, let me welcome our guest today to the show. Alexandra Friedman, welcome to the show.
Alex Friedman: Thank you for having me.
Alejandro: Let me ask you this. You were born and raised in New York. So, you’re like one of a kind because New York is like a big United Nations. So how was life growing up here?
Alex Friedman: I have always loved living in New York. I’m here, still, more than three decades later. I think I have always had a lot of great exposure to different ways of thinking and have benefited a lot from being here.
Alejandro: Then you decided to go to Dartmouth.
Alex Friedman: That’s true. Any good city kid knows they have to spend some time in the country life just to be a bit more well-rounded. So I very intentionally moved up to Hanover, New Hampshire, when I was 18 to live a different way of life, and it was so much fun to be there.
Alejandro: And New Hampshire is actually beautiful. So tell me about this. Why business?
Alex Friedman: I, originally, thought I was going to be a journalist. When I was in high school and college, I wrote a lot and was the editor of the school newspaper and loved learning other people’s stories and framing them. But towards the middle to the end of college, I realized I also cared a lot about supporting myself and started to think about how could I actually do that? I started looking at business jobs and realized that going into consulting would be an interesting way to exercise the same muscles as journalism, where I was observing and framing up stories and making decisions based on that. So that’s what I did.
Alejandro: It was private equity consulting type of work. Is that right?
Alex Friedman: Yeah. It was private equity due diligence, so it was a three-week project partnering with private equity firms to help them assess whether or not to invest.
Alejandro: What did you learn about the good deals that deserved an investment?
Alex Friedman: What did I learn about the good deals that were what? That deserved an investment?
Alejandro: Yeah, because there are patterns here, Alex? On those that you were actually saying, “I think that this is a good one. This is a good opportunity.” From all those different deals that you saw, were there any patterns there that you were able to recognize on the actual good opportunities?
Alex Friedman: You’re really stretching me here because this was 15 years ago.
Alex Friedman: The diligence was market-focused, so it was toward the end of a diligence process where our firm had more or less decided to make an investment. We were doing the final screen on how big is the market? What is the share position and of the dominant players and the others? Is there actually an opportunity to disrupt here? More often than not, there was because of the stage we were in the process, but every now and then, we had the pleasure of killing a deal because it didn’t look like there was an opportunity that matched the company’s capabilities. So it was really interesting to just be focused on that same decision factor every time for lots of different deals in lots of different industries and see which markets seemed like good opportunities.
Alejandro: Let’s talk about consumer markets. Why were you so interested or attracted to them?
Alex Friedman: I think because they were products that I used. I remember some of the first few projects I did in consulting were in industries like lint rollers and car accessories and those cranes that you use to pick up toys when you’re a kid at an amusement park. Those were products that I had used and touched and had opinions on. It was interesting to think about the decisions that went into building these businesses and what made them successful.
Alejandro: Then, why going into a fund of funds. Why did you make that decision because it’s quite different from what you were doing?
Alex Friedman: Yeah. I had been advising private equity investors on whether to invest in deals. I was fascinated by both the portfolio company strategies and the investment strategies. I wanted to come at the same industry from another angle. So I joined a fund of funds where I was responsible for assessing whether or not to fund the private equity adventure investors themselves.
Alejandro: And now, there are fund of funds all over the place, but back then, we’re talking about 2007. What was the landscape like?
Alex Friedman: For fund of funds?
Alejandro: Yeah. For venture capital.
Alex Friedman: The fund of funds that I joined was unique because 1) it had a fantastic access to some of the best portfolio managers, and 2) the source of capital is different from other fund of funds at the time. I don’t know how it’s evolved now, but the source of funding was from high net worth individuals, so it had a strong investor relations arm because we were aggregating access from smaller checks to get into venture deals that normally a private investor couldn’t access. So it was interesting both from the investor relations perspective and from the venture capital strategic perspective.
Alejandro: For the VCs that are listening, right now, let’s put them on the hot seat. What were some of the key traits on those fund managers that really had what it takes to receive an investment from you guys? What were some of those common traits that you were seeing?
Alex Friedman: There’s a template that most fund of funds use to evaluate a venture manager. So the first thing you look at is, is this an emerging manager or somebody who has a proven track record? For the most part, we were focused on proven managers with a small part of the portfolio allocated to new funds. Then for these funds, we were looking at the team. Who’s on the team? How long have they been there? How did they jive together? What different expertise does each member bring? We were looking at the firm strategies. So how big is the fund size? What type of deals are they trying to get into? How can they access them? How do they evaluate them? We were looking at their track record, so we’d look at different historical portfolio. What is the return overall? What is the return by sector? What is the return by company type and by team member? Then, of course, terms. What are the terms that we are getting as an investor in this fund?
Alejandro: Very cool. Then, at what point did you say, “I think it’s time to go back to study,” and you went and did you MBA at Wharton?
Alex Friedman: While I was there, I was surrounded and mentored by a lot of folks who had been to business school and realized that it would be a great moment in my career to take a step back. I spent five years exposed to the private equity and venture world as a consultant, as an investor. I really wanted to dive deeply into a lot of areas that I have had exposure to in a classroom setting, and also build my network.
Alejandro: Very nice. Wharton is fantastic. We’ve had on the show people like Jeff from Harry’s and Warby Parker. The community there, I think the ecosystem of founders is out of this world. How was it for you having that exposure and perhaps being able to build the network there?
Alex Friedman: It was incredible. While we were at school, you don’t know where people will end up. We’re certainly encouraged to pursue entrepreneurial activities, and there’s a lot of focus on coming up with ideas and trying to execute on them — failing and learning from that. I think it was a wonderful place to be, and I have been so impressed by where a lot of the folks from that community are today.
Alejandro: Why did you decide to go back to Corporate America, rather than going at it?
Alex Friedman: When I was coming out of school in 2011, I had been thinking a great deal about doing something in the early-stage startup community, but the economy hadn’t fully recovered, and I didn’t see a lot of interesting early-stage, highly ventured basketball consumer ideas. I had spent the summer at a managing consulting firm and enjoyed the exposure there and decided this was like a continuation of the MBA program. It can only better me and make me think bigger.
Alex: I find that you are a very dangerous founder but in a positive way.
Alex Friedman: What does that mean?
Alejandro: Let me tell you because some of the best founders that I find are those that have the expertise on either consulting, on investing, or investment banking. You have it all. It’s unbelievable. So for you, you did this, and this was the immediate step before going at it like before. Not before your venture, because then you went to this at the company, but why do you think that so many of the successful founders out there have that experience with consulting?
Alex Friedman: I don’t know. I haven’t found that consulting is a necessary precursor to what I’m doing today, but I have found it as a really useful skillset. Now that I’m here to shift through all the noise and prioritize and move quickly on things that matter, because I think consulting helps you in structured thinking, in general. I don’t think it’s necessarily a precursor, but I do think it’s a helpful skillset to have once you are doing something that requires a lot of navigating through ambiguity.
Alejandro: So how do you filter through the noise, Alex?
Alex Friedman: I make frameworks and slides, of course.
Alejandro: I love it. So then in the Boston Consulting Group, you were there for about two years, and then you went to Flurry. Why did you go to Flurry?
Alex Friedman: I knew I wanted to move over to the startup world. I wanted to go work for a high-growth company, but something that was proven, so several rounds of funding, a strong leadership team in place, and plugin to a function with a strong mentor and team, and experience what it was like. In the back of my mind, an earlier-stage startup sounded even more exciting to me, but I was risk-averse and had been at big companies for a few years and wanted to crawl, walkaround into the experience.
Alejandro: How big was Flurry when you joined them?
Alex Friedman: Flurry had over 100 people when I joined. I think maybe closer to 150. The company was based in San Francisco but had a 20 or 25-person New York satellite office, which is what I joined. So I had the benefit of feeling like I was on a small team in a very startup environment, but also as part of a larger organization.
Alejandro: Were you able to experience the acquisition process?
Alex Friedman: I was there through the company’s acquisition, but I wasn’t there through integration. So my last week was actually my first week at Yahoo.
Alejandro: Got it, and obviously, integrations are a beast. So why don’t we talk about the moment where you met your co-founder because I know that you guys were actually sharing the same space at Flurry.
Alex Friedman: I met my co-founder because our husbands had worked together. Both of our husbands and my co-founder, Jordana, were at some work event the summer of 2014. Jordana had an idea to change the feminine care industry and specifically launch a subscription business in tampons. She was talking about the idea. I remember my husband coming home that night and saying to me, “I met this really interesting woman who has a fantastic business idea and a lot of passion for it. I feel like you should meet her. It would be awesome, and also, you both are from the Upper West Side, you went to the same college, there are a lot of similarities. You’ll hit it off.” We kind of got set up on a friend date. I think that was April of 2014. We spent a few months together talking about the idea, doing some consumer research together, building out a financial model for the business. But at that point, it felt much more like a project than building a company. We were really just trying each other on and seeing if the idea had legs.
Alejandro: At what point were you like, “Okay. This has legs. Let’s go at it?”
Alex Friedman: It was a process over the course of several months to determine that together, and I think we officially became business partners Labor Day, that year. So we had done a handful of focus groups and talked to consumers about how they felt about the product category. We had done some early brand work together, where we sketched out what we thought the brand look and feel could be. We thought about the technology, had met with suppliers and manufacturers. It felt like there was a need, and we knew how to build toward it.
Alejandro: Here you are, you’ve been for almost a decade working with your nice 9 to 5, where you get the paycheck no matter what, and you get to close the lights and go home and enjoy. But why? Did it feel scary? Why did you complicate your life like that?
Alex Friedman: One, I think you have a nice rosy picture of consulting. [Laughter] I was used to work being my life, and that was something that I did in my 20s and loved. That’s just what I’m like, I think. The scary thing for me was doing something with such an obvious success or failure. Nothing I had done before really ever reflected on me in that same way. I was historically joining things, and joining successful companies, and taking a small part in the outcome versus conceiving of a new idea that may or may not work, and doing everything in my power to make it successful.
Alejandro: Got it. Let’s talk about that person. So you and Jordana, your co-founder, you guys were seeing if this had legs or not. Then finally, you started building some models. This started to get some shape. At what point is that moment where it’s really, truly visible to you that this is your next path forward and your next phase in your professional career?
Alex Friedman: I think there are probably three moments. One was when we had our GTR, which was our defining relationship conversation and decided to be business partners. That was a moment where it felt like we both loved this, and were in this together, and we’re doing this. That verbal commitment happened over dinner, and it was a meaningful moment. The second was, we did a series of focus groups, some of which went through the fall of 2014. We sat in a room with women in all different cities across the U.S., asking them what they thought about their periods, what they thought about the products and brands in this category. It took a few minutes to get those conversations going because the topics were so highly stigmatized, and no one has talked about these subjects before. But by the end of the night, we could not end the sessions. Nobody wanted to leave the room. They went on for hours and hours. We really felt like we had tapped into something special, which was there are no conversations in women’s reproductive care. If we can bring that to market and actually drive open conversation, then women will make informed choices in this product category. Then the third and most tangible signal to me that this had legs was, we started talking to investors the fall of 2014, also. It became clear that this idea was attracting attention of people who wanted to back strong founders with big opportunities, and they wanted to make money, and they saw this as a way to make money. It gave us the final vote of confidence that all of the things that we were seeing were aligned for success.
Alejandro: So how was the process like of having a conversation, let’s say with a male investor where you’re telling them about a tampon? What was their face?
Alex Friedman: Yeah. That’s what I do all day. So it’s been a really interesting process. We’ve now been in business for four years, and have been working on it, and raising money a year before. I think the conversation has changed a lot since when we started the company. When we went out to raise a couple hundred thousand dollars in the fall of 2014, we basically met with any angel investor we could possibly find, as well as early-stage seed investors. We essentially had to go to those meetings with our tampon prototypes and take them out of the wrapper, dunk them in water, and show what a tampon did and how it expanded. And really educate, which I think was a big challenge, but also a really big advantage to us as entrepreneurs to be educating our investors on the industry before doing our pitch.
Alejandro: I mean, I would have loved to be on those sessions, waiting for the time when they give feedback.
Alex Friedman: Yeah. A lot of those conversations resulted in the male investors taking home a batch of our tampons for their wives, girlfriends, friends. Then we would have to wait a whole cycle for feedback, like an actual period cycle. We would wait until their spouse got their period, then used our product, and then we’d have to hear back. So it was a bit slower than potentially other companies.
Alejandro: Yeah, I can imagine. So tell us about this process. You were getting feedback from investors, and I’m sure that you guys were optimizing a bit more of the model. What did the business model end up being?
Alex Friedman: At that point, it was a very simple business model. We were trying to start a subscription service for cotton tampons. We thought about it in this way: we’re reinventing three things. One, the brand. The brands that are out there are stale, ugly packaging, and don’t get you. All the other brands in your bathroom are brands that you believe in and products that you want to leave out on your shelf, not throw under that sink. So the brand experience is broken. Two was product. When you look at the side of a box of tampons, it says, “Ingredients may contain.” That’s not good enough. This product should have ingredients transparency, and if the FDA isn’t going to regulate that, and the big brands aren’t going to put the ingredients on the box, we will. Three was delivery and service model. Customers are getting every product in their lives delivered to their homes, often in a subscription model or a format that makes sense for them in the category, but not in this category. Why not? So we put in place a subscription service that delivered one or two boxes of tampons every four to eight weeks. You could customize what was in the box, which was also another problem in the industry that tampons, and the mix isn’t one size fits all. Women need different things, and to be able to customize the assortment of tampons down to the skew actually matters a lot to her.
Alejandro: What were some of the challenges from the logistics and on a subscription-like business type like this one. What were some of the challenges that you guys were experiencing?
Alex Friedman: You know, everything was a challenge and an opportunity because there were just two of us, and we wanted to stay lean. We didn’t want to build out a big team from the beginning. We raised 1.2 million dollars. We were focused on getting the best product and brand to market as leanly as possible. I think the biggest challenge for us then, and continues to be, is messaging and driving awareness because, for the most part, the American consumer isn’t thinking about what’s in this product. She’s exercised the ingredient muscle in every other category. What’s in my food? What’s in my shampoo? What’s in my skincare? What’s in this diaper? But for some reason, with tampons and other reproductive items, even condoms, women aren’t asking themselves, “What’s in this,” because there’s so much stigma, and there’s no conversation around it. Our challenge is to drive that open dialog to enable women to be informed in this category.
Alejandro: Why do you think there was no conversation around it? Why do you think people get embarrassed when they have to talk about this stuff?
Alex Friedman: I think there’s just societal stigma, and we’re all trained to not talk about it. It continues from generation to generation.
Alejandro: Yeah. Absolutely. Over time, how did the conversations with investors, how were those expectations changing because you guys have raised quite a bit of money already? Right?
Alex Friedman: Yeah. We’ve raised 35 million dollars now over four rounds. The first round was about getting enough money to get the business off the ground and getting people to believe in the near-term concept of the business, which was building a brand and a subscription service in tampons. Over the course of the last four or five years of interacting with hundreds of thousands of consumers and community members, what we’ve learned is that the same lack of conversation drives the same lack of information and informed decision-making in every reproductive health category. So whether it’s her first period to when she’s thinking about having sex, to when she’s thinking about her fertility and may be pregnant, postpartum, then perimenopause, menopause and beyond. Women are going through universal life stages and not talking about any of their needs, content, product, community because of stigma. So our mission now has gotten much greater and bigger, which is to be there for her at every life stage from her first period to her last hot flash. So tampons is where we started, but now when we meet with investors, we’re sharing the bigger mission and purpose of the company, which again, is something that resonates with many, but of course, with a male-investor community we continue to have to educate around the life-long needs and what reproductive reality is like for women through the course of their lives.
Alejandro: Talking about education here, Alex, I think that obviously, you had the challenge with educating investors, but then also educating your own customers. I believe, especially at the beginning, it’s about getting creative with the marketing and how you onboard people and how you get people to subscribe because you don’t have the money there. You still don’t have the big money to do the marketing process. So how did you go about onboarding these customers early on, and how did you go about educating them?
Alex Friedman: At first, we did a lot of grassroots marketing, and talked to as many people as we could, and had a community of hundreds of brand ambassadors. The hard part there was getting women to appellate their feminine care with their overall health and wellness. We were very concerned about the barrier of even getting women to talk about this subject because of the stigma. But for the most part, women had just not been asked to talk about it. Once asked, there wasn’t that much embarrassment we found. So it was about how to get them to equate this with their health and wellness. We, as consumers ourselves, thought of this category as just as important as what’s in our food or our skincare. Just in having those conversations, we started to see people’s mindsets shift to include tampons, pads, and now sexual health products in the same thought process. It was very important to us to make sure that we were asking consumers questions in the right way that didn’t make them defensive like, “Do you know what’s in your product?” felt a bit aggressive of a way to ask the question, and we didn’t get positive reactions with that framing, but when we started asking people, “Have you ever wondered what’s in a tampon?” Suddenly, it opened up a safe conversation, and we could get the dialog going.
Alejandro: What were some of the channels that were the most effective when you were trying to run a lean operation and onboard people?
Alex Friedman: At the very beginning, we did everything we could to build the business for free. So, ambassadors, referrals, giving out free products. We were very focused on press and gaining brand credibility by being talked about in the right places by the right people and the right tone. Over time, we started to advertise with paid marketing. So the usual startup playbook of Facebook, Instagram, and a lot of other digital channels and experimented a lot there over the first few years. More recently, in the last one of two years have advertised more on some offline channels like direct mail, or television, and radio. But for us, it’s less about the channel and more about being able to convey the story. To be frank, that is another challenge for the brand because we’re introducing a problem and then solving it. A lot of brands just have to do the latter. You know you have a problem, so in this category, because many women don’t realize they don’t know what’s in these products already, and they don’t realize the full story. Storytelling is a really important piece of what we’re doing. Often, the channel in which we’re telling the story can help or hinder amplification of that story depending on the format.
Alejandro: I think that storytelling is applied to everything now. Whether it’s onboarding customers or onboarding investors or even talk to your talent, to your teams, how do you go about that? From what you’ve seen and experienced and also done, what are the key elements of a great story?
Alex Friedman: What a great question. I think empathy is the most important factor to whether your story will land. You could tell the LOLA story or tell any business story in a vacuum a hundred different ways all day long, but if you don’t understand who’s listening to the story, and what their interest are, and whether they care, the story won’t land. There’s no elevator pitch necessarily. It’s what is the story for the person in that moment? I think that is the key to telling something great.
Alejandro: Got it. I see, as well, that you guys recently, as of last year, raised the Series B. I’m wondering here, what is that change or that shift of gears from going to early-stage to all the sudden your looking at growth?
Alex Friedman: What is the strategic shift?
Alejandro: What is the strategic shift, and what does it look like when you’re right in the shift?
Alex Friedman: Every time we finance the business, we’re doing it with a specific forward-looking milestone-based plan, usually for 18 to 24 months. For us, when we raised the Series B, we were a single category company, just periods. We also had, I think, 16 people on the team. So we were very lean. Since then, we have focused on growth, brand building, products, extension, innovation, and team building. That is where we’ve invested capital since that raise a year and a half ago. The team has tripled. We’ve entered a new product category, sexual wellness. Also, we’re planning to relaunch products with improvements, innovate new categories, and have also clearly invested in marketing and growing our awareness and reach.
Alejandro: As you were saying now, you’ve been launching new products. Obviously, you started with tampons, and then you’re expanding more the offering. What does the process look like on coming up with a new product or a new concept idea, and then saying, “Let’s go full force with launching this to the market”?
Alex Friedman: The thing I would say is that everything we bring to market, whether it’s a physical product, community, content, track product, every single thing we bring to market has its origins, and what does she need? What does the customer need? From a physical product perspective, we’re constantly talking to our community and serving them, and understanding what they want and need, and what their problems are, and how we could possibly solve them. I think that’s the beauty of our business that started indirectly to the consumer because we have that direct touchpoint, and that has been magical for us to be able to bounce things off of her all the time. I can remember back to a time when we launched the business, and Jordana and I would have video chats with customers all the time and talk to them about the products and see what they thought, what they liked. We even learned that it was hard to talk about tampons because there aren’t words in the English language that are universally known for the two different pieces of the plastic applicator. How do you even talk about this product? Nobody talks about it, so there aren’t even words to talk about. But as we think about our product strategy now and going forward, we want to be in all the key categories where women need ingredients transparency and better conversation in community and reproductive health. So currently, we’re in periods and sexual wellness. Within those categories, so far, we’ve offered the core product as a natural format that works for women in addition to innovative products. For example, in the period portfolio, we have a first-period kit, which was born from consumer need. Parents didn’t know how to talk to their 11, 12, 13-year-old daughters about their first periods. Why wasn’t there a kit that had all the products they needed: tampons, pads for minors with a book describing what’s happening to my changing body and a pouch that the adolescents can use to carry the product. It didn’t make sense that didn’t exist. So we introduced the first-period kit. Every category, we’re trying to think about what are the core needs and also how can we innovate to make the category better? We’ll be moving category by category through reproductive health.
Alejandro: Do you think we’re at a point in time, Alex, where we’re experiencing somehow a culture and mindset shift?
Alex Friedman: A culture mindset shift in what way?
Alejandro: Where people are a bit more open to discuss and perhaps listen to initiatives of this nature, and to have conversations. Probably, you guys have experienced this because you’re so close to your customers, and maybe from the conversations that you’re having now with people, compared to conversations that you were having back then in 2014 where you started the business.
Alex Friedman: I think so, and I think part of that is definitely due to the conversation that we as a brand are driving. If I went on to the New York Times website when we started the business five years ago and looked at periods or tampons, there weren’t a lot of articles. That wasn’t a topic of conversation versus now if I look on there and there’s been a lot of conversation on that topic in the last five years, and it’s not just business-related, but it’s also advocacy-related. And conversations around why are there 33 states in the United States that actually tax period products? Why are we taxing necessities, but not taxing things like BarBQ sunflower seeds? I think that absolutely women’s reproductive health has become a much more frequently discussed conversation, and it’s exciting to see.
Alejandro: One of the questions that I typically ask the guests that come on the show is if you had the opportunity to go back in time, like maybe if you had that opportunity to speak to your younger self, to that younger Alex that was still at Flurry and maybe thinking about the next journey and perhaps launching a business. Knowing what you know now, because you probably learned a ton during this past five years on building, scaling, the highs, the lows — what would be that piece of advice that you would give to your younger self before launching a business and why?
Alex Friedman: I think one piece of advice that’s coming to mind is, do it younger. We started the business when I was in my early 30s, and I think definitely benefited from ten years of working beforehand in developing a lot of skill sets that I use all day, every day. But also, I think that once you do it, it’s less scary. In my head, it was scarier to take the leap than it actually was in reality. I can’t describe the fast-paced learning that I’ve experienced in the last five years relative to being in other places. I think there’s nothing more exciting professionally, at least for me than building a business and learning every single aspect of the business. I almost wish I’d done it sooner.
Alejandro: For the folks that are listening that are perhaps right now in Corporate America and thinking whether or not to make the jump, or maybe to have a side project that is doing well, but they’re too scared from jumping, what would you tell them?
Alex Friedman: There’s no right time. If you can figure out a way to do it financially, and set yourself up for the risk, and know, “I’ll try this for a year,” and save up to be able to do that. It’s less scary to get off the track than it really is.
Alejandro: Yeah. I love it. Alex, for the people that are listening, what is the best way for them to reach out and say hi?
Alex Friedman: You can come visit our website, mylola.com. We’re LOLA on Instagram, and please reach out directly through our customer team. We’d be happy to chat with anybody.
Alejandro: Amazing. Alex, thank you so much for being on the DealMakers show today.
Alex Friedman: Thank you.
* * *
If you like the show, make sure that you hit that subscribe button. If you can leave a review as well, that would be fantastic. And if you got any value either from this episode or from the show itself, share it with a friend. Perhaps they will also appreciate it. Also, remember, if you need any help, whether it is with your fundraising efforts or with selling your business, you can reach me at firstname.lastname@example.org.