Moroccanoil came onto the hair carescene in 2008, and quickly took the industry by storm. Its ingredient story (argan oil, before it became ubiquitous) paired with its beautiful—now iconic—blue, orange and white packaging, had consumers rushing to salons to buy their shampoo, conditioner and treatments. Fast forward 10 years to a company that generates more than $800 million in annual global retail sales and remains privately owned. Moroccanoil Co-founder, Carmen Tal, and JuE Wong, Chief Executive Officer, talked to CEW Beauty Insider about overcoming market shifts, moving to omni-channel distribution and advice for entrepreneurs for this week’s 5 Minutes With…feature.

BI: What’s the best thing about your role at Moroccanoil?

JuE Wong: Primarily I have always been in turnaround situations for beauty brands and private equity backed portfolio brands. But with Moroccanoil it is about growth and applying everything I have learned and translating that here.

BI: When Moroccanoil first launched, brands that were sold in the salon/pro channel weren’t as open to selling in retail. Things have changed as channels have blurred. How would you classify the salon/pro channel today?
Carmen Tal: Some of our earliest supporters were definitely salon owners and hairstylists. They were vital in launching our professional hair products and we would not be where we are today without the support of the salon and professional community. Today, I still see behind-the-chair hairstylists are the authority in hair when it comes to speaking with consumers one-on-one. Stylists are the original influencers when it comes to educating consumers about products and benefits. We’re still very committed to the professional/salon industry; nevertheless, times have changed in the way consumers want to buy products. We are proud to be a brand that listens to our consumers and understand that we need to adapt to these changes.

BI: What’s your biggest lesson learned?

CT: I’ve learned that at the end of the day, it really comes down to having the right team. I can honestly say that working with a team of talented and passionate people has taught me invaluable life lessons. Learning how to better delegate work and allowing my talented team to do their magic has been incredible.

BI: What’s your biggest lesson learned?
JW: To me it is to continue to learn. It’s constantly being aware that things change and change is the only constant.

BI: What is the biggest mistake you’ve made?
JW: When I first started in my career I was given a trading portfolio and held onto and held onto it even though I needed to liquidate. And ever since then I’ve learned the lesson to never hold on to a bad position.

BI: If you could change one thing about your brand, what would it be?

JW: One thing I would love to do is to move faster on our social responsibility messaging. I think the brand has such a rich culture for doing the right things, but because we take it for granted in terms of how we are as a company we have not really communicated that in a way that is much more vocal.

BI: Best advice for newbies entering the business today?

CT: Entrepreneurs making their way up the ladder should make it a priority to stay constantly informed. Always be ready for change.In business today it’s all about adapting to the constantly changing needs of the marketplace. It is so important to have your ears and eyes open at all times and listen to what consumers are using, buying or looking for.

BI: Which product (not your own) is your favorite and why?
CT: It changes all the time. I’m always looking for new products that deliver results but lately I’ve been loving Enzo Lazlo Cleansing Oils—they are just fantastic.

BI: What product (not your own) is your favorite and why?
JW: I like products that are easy to use. One of those things are powder cleansers. There are so many steps in my skin care regimen (12!) any time I don’t have to pack a liquid it’s a good thing. It just activates with water and then I can wash it off easily.

BI: Best advice for newbies entering the business today?

JW: I’d like to help them understand what they want and if they know what they want they can identify a network of people that could help them along. A hear a lot of people say they want to advance but they need to know what that really looks like. It’s a lot easier when you have a plan.

BI: What’s a mantra you live by?
JW: Live every day like it’s your last.

BI: If you were to write the note found in a fortune cookie, what would it say?

JW: You have arrived.