The Dynamic Edge & The New Economy

Moderator: Kristen Berke
Vice President, National Advertising Sales | LA Times Studios

Speakers: Nicole Auyang
Senior Vice President, Head of Community Banking | City National Bank

Nicole Auyang is a seasoned banking leader with over 20-plus years of experience in small business, SBA, business and commercial banking. She leads multiple lines of business and teams that support the bank’s social and economic goals. Auyang creates operational efficiencies to meet regulatory standards and achieve financial objectives. She obtained an executive certification in banking leadership and management from Pacific Coast Banking School, a national graduate school of banking in 2022.

Loren Castle
Founder & CEO | Sweet Loren’s

Loren Castle is the founder and chief executive of Sweet Loren’s, a brand born from her battle with cancer at 22. After eliminating processed foods from her diet, she created wholesome, plant-based cookie dough to support a healthier lifestyle. Now cancer-free, Castle’s mission is to offer delicious, feel-good food to others. The products are now available in over 25,000 retail locations and is the No. 1 natural cookie dough in the U.S., free from allergens and made with clean ingredients.

Teni Panosian
Founder | Monday Born

Teni Panosian began her career as a beauty creator on YouTube, garnering landmark partnerships with both luxury and mass consumer brands across social and traditional media. As she continues her journey in content creation, Panosian founded Monday Born in 2020, a community-focused skincare brand.

ON HOW A SMALL COMPANY CAN COMPETE WITH LARGE COMPETITORS

Loren Castle: It’s taken some time, but we’ve always listened to our consumers. We keep listening and improving. Large companies are not nimble. We’re here to solve a problem. Initially, the original recipes weren’t allergen-free, even though they had cleaner ingredients. I had an amazing first-year launch, and then I started getting messages from people who asked about different allergies. I realized that there were 35 million Americans that have food allergies or didn’t want to eat certain ingredients. The issue with my business plan was that I was better than the competition, but wasn’t different. I changed the recipe to a universal recipe that everyone can enjoy. It’s dairy-free, gluten-free, nut-free and it was a huge differentiator. Listen to the consumer and solve a problem.

Teni Panosian: I had built a community through content creation and going into the product space meant that we had to have them involved. We choose a diverse group of people to test out lab samples right along with us. Huge companies have to go through departments, but as an indie brand, we can do things quickly. Once it’s done, the people who tested have their names printed on the box. It’s a foundational feature and represents how the community is involved in the product.

Nicole Auyang: Banking has come a long way. We’re a big company, but there are still leaders in many lines of business that focus on the small business owner and client experience. There’s still a lot of intent to do that. We launched a community banking division of the bank. It’s a strategic priority now in its second year. It encompasses serving small business and affordable housing communities. It gives flexibility to diverse entrepreneurs. Now we have to expand.

“Huge companies have to go through departments, but as an indie brand, we can do things quickly.”

- Teni Panosian

ON THE YOUNGER GENERATION IN BUSINESS AND ADVICE FOR PEOPLE ENTERING THE WORKFORCE

Auyang: I’m excited to see the younger generation. They have unlimited information access at their fingertips. They are bold.

They aren’t afraid to make moves and they have an incredible amount of empathy. We have more tools and information today and have a people-first approach.

Panosian: There is never just one path. There is often a temptation to follow trends.

Try to do what you and your mission represent rather than what is common practice.

Don’t ever think that you can’t be the trend setter or have to follow a specific path. Take the risk and do it.

Castle: We are an all-remote company. It wasn’t our original plan, but I want the most brilliant and passionate people. People have a work-life balance working remotely. We’re still figuring it out and finding people with the right cultural fit. While we meet at least once a week for work, we’re not always in the office. As long as people are productive, that’s what we care about. We need to encourage incredible communication skills. We are very clear on goals and have plans. I want to make sure that we’re making the products available to people across the country. It’s helped us hire the best talent.