Senior Vice President, Market America & Shop.com
Posted on: April 1, 2012 | Go to profile
A seasoned entrepreneur and Internet mogul, Loren has been changing the face of beauty and online shopping for twenty years. She is the creator of the award-winning cosmetic line Motives® by Loren Ridinger and the luxurious skincare line Cellular Laboratories™, founder of the jewelry lines Loren Jewels® and Yours by Loren®, and Senior Vice President of the Internet retailing giant MarketAmerica.com and SHOP.COM. Loren has transcribed her style, fashion and inspiration to women everywhere on her personal blogs: Loren’s World, a woman’s empowerment site that was recently named on Forbes list of the 'Top 100 Websites for Women.’
Q: It’s hard to focus on the “big picture” sometimes because we can get caught in the weeds of work and life. When does visioning come clearest or easiest for you? Or what inspires your vision?
A: It all depends on the state of mind I’m in and the time of day. It can be anything from our Market America’s distributors who are motivated to make their business grow, meeting new friends, other successful people around me, my family, husband and daughter.
I generally like to be alone late at night so I can think through things, which always helps.
Q: How much time do you spend on networking versus focusing on the internal affairs of your business (such as management, strategy, ideation etc)?
A: 24/7 anywhere I go, wherever I am. I always make sure to promote my products, brands and company at events, through friends & family and social networking. You are your own walking billboard and your best salesperson to sell your product.
Q: What are your top 3 tips for networking?
A: 1. Engagement through social media: communication is key, especially when it comes to social media. Make sure to connect with everyone at all times. People lead to people.
2. When you attend events, always introduce yourself to people. A simple hello or a question may lead to many opportunities.
3. Create your own personal blog, become an expert of your own.
Q: A great negotiation can be game changing for one’s business or life. Studies have shown that men are much more comfortable negotiating and asking for what they want compared to women. What’s your advice to women who are uncomfortable negotiating?
A: 1. Believe in yourself – don’t sell yourself short.
2. Be assertive, don’t let others pull you away in different directions.
3. Be honest with yourself.
ON Career Transitions
Q: Many people become discontent with their current career yet are too afraid or reluctant to make a change. What’s your best advice for women in this situation?
A: It’s never too late to do what you love. If you are unhappy with your current status you have to be mentally prepared to make a change that will better yourself.
Q: What do you believe makes a great brand?
A: 1. A compelling idea. Behind every brand is a compelling idea, which captures customers’ attention and loyalty by filling an unmet or unsatisfied need. The ability to stay relevant no matter the trend. Leading brands constantly maintain their relevance to a targeted set of customers and to a culture. To maintain their loyalty throughout.
2. Simplicity. When someone immediately knows what it is.
3. A brand that stands for what it promises and delivers value, quality and service .
Q: If you had the opportunity to give advice to your younger self at say the age 13, what would you say?
A: Stay focused and true to yourself.
Q: Is there an example in your life of a time when others were against you or your dream, yet you persevered?
A: Yes, my mom passed away when I was only 22, and my daughter Amber was just a newborn. My family and I didn’t have much money and I became responsible for my other siblings. Our business was just starting and we had to figure out how to make ends meet every week. I knew that I had to do whatever it takes to make it happen.
Q: What do you think is the key to happiness?
A: Happiness is a state of mind. It’s all within your consciousness.
Q: What simple things in life today bring you joy?
A: Playing games with my daughter Amber, spending time with my husband JR, going out for walks in New York City.
ON Time Management
Q: Online calendars, emailing ourselves, post-it notes… I’m still struggling to find the best way to manage my time and to do list? What’s your method?
A: Keep a to do list. Tackle your hardest task first and the rest of your day you’ll have time to do things you love the most.
Q: In the world, what are your 3 Favorite Places to Get Lost?
A: My house, NY streets of Soho, Vintage Shopping
Q: In the world, what are your 3 favorite places to shop?
A: London, New York, Paris
Q: In the world, what are your 3 Favorite Restaurants?
A: Il Mulino, Cipprianis, and Milos
Q: What are the beauty items you could not live without?
A: Motives No More Shine Setting Spray, Motives Powderless Foundation
Q: Please share with us the story of how your professional journey began and has brought you to where you are today.
A: It began by my husband and I meeting in 1989. We worked for someone else till 1991. We got sick and tired of working for someone else’s dream. Our life would pass us by and we wanted to make a difference, not only to change our own life but help others to change theirs. That’s when my brothers Marc and Steve joined our team, then our high school friend Joe Boylard as well as my sister and the rest of the corporate team—the same team we have been in together for 20 years. It took a lot of blood, sweat and tears to make this work, but we have changed thousands of people’s lives, not just our own. It has been an amazing journey. Amber was born in 1992, so everything was happening at once. I don’t think we had time to figure out if things would work or if they wouldn’t. We just did whatever it took to make it work. We did everything in the beginning from clean the toilets to pack the orders. Nothing can lead the way to success like doing things yourself and knowing how to show others. Today, that hard work has paid off for us and thousands others, and we still have so much work to do.
Q: What are 3 characteristics that you believe define great leadership?
A: 1. Courage – Having the courage to take risks. It takes a lot of guts to build a company from the ground up.
2. Self-motivation – Entrepreneurs keep going despite the fact that people around them think they are foolish, friends say they are wasting their time and family tells them to get a real job. It is the drive that keeps them motivated to work harder.
3. Optimism – Leaders see problems as a challenge and they are willing to do whatever it takes to make it happen. When faced with a challenge, they change their direction and are optimistic in knowing that things will work out.
Q: Innovation requires creative thinking. How do you tap into the creative thinking resources within your business?
A: Research, read, travel, surround yourself with people smarter than you. See things from a different perspective, work backwards, find people who are more creative than you.
Q: If a business has several, viable ways to grow and innovate, how do you pick the best road to take?
A: By figuring out what makes the most sense to you and logic. Options are good but you must do what feels right, makes sense for you and your business and what will benefit you the most. Talk to people who know more than you and listen.
Q: What’s your best advice for an entrepreneur in an early/bootstrapping phase? Or in a growth/need to ‘now scale’ phase?
A: 1. Hire young, inexpensive, hungry people who are willing to work and are full of energy.
2. Focus on function. Know how you want to get from point A to point B and how to do it.
3. Strategize, plan. There’s no success without a strategic plan no matter how much or little funding you have. You have to figure out if your product/service will work and how you will make it work for other people to buy or like.
4. Use social media. The best way to get your business out to thousands of people is through social media and by making sure all your employees do the same.
5. Add value through your customer’s ecosystem. Take your understanding of the customer, their ecosystem and their needs/priorities into account to start adding value.
6. Focus on cash flow.
Q: I love the quote “the bigger the vision, the smaller the first step”. Right now, what is the big vision you have for your career?
A: My vision has always been and still is to help other’s succeed and accomplish their goals. Obviously there is much more I still want to do but if I achieve my goal of helping others, I automatically succeed.