From getting sacked to building a multi-million dollar business: the awe-inspiring tale of a mumpreneur who conquered setbacks and achieved the extraordinary. Mumpreneur sells her innovative breast-feeding clothing start up for a massive sum and launches coaching service to help other women achieve financial freedom
In a world where entrepreneurship knows no boundaries, women are increasingly making their mark as powerful and successful business owners. Recent years have witnessed a remarkable surge in women entrepreneurs both globally and in Australia. The statistics revealed in a new report commissioned by NRMA Insurance and compiled by the renowned McKell Institute show a significant rise in women-owned businesses.
According to the report, the proportion of women-owned businesses has climbed from 31 per cent in the early 2000s to over 35 per cent in 2022. Moreover, the report highlights the emergence of a ‘sandwich generation’ of women skilfully juggling the responsibilities of raising children and caring for aging parents. For these women, the flexibility that entrepreneurship offers is a compelling draw.
Karina Nagel, the founder and owner of Ecom Co., has been a notable contributor to this evolving landscape. With over 13 years of experience in the financial services sector, Nagel has supported retail and small businesses, honing her finance, customer relations, and business operations skills. However, her entrepreneurial journey took an exciting turn four years ago when she ventured into e-commerce, establishing The Mylk Society, an online business dedicated to designing and producing breast-feeding friendly clothing. What began as a passion project quickly transformed into a thriving multi-six-figure enterprise with a cult following, demonstrating her talent for launching and scaling successful businesses in the digital realm. Nagel sold the business this year for a significant amount of money.
As Nagel’s e-commerce venture prospered, she recognised a gap in the market that resonated deeply with her; the need for more entrepreneurial coaching and leadership for women to help them build their businesses to achieve financial freedom.
In response Nagel launched her own consultancy and coaching business, Ecom Co.
“During my growth journey I have encountered numerous talented women who aspired to become entrepreneurs but lacked the knowledge and support to transition from an ’employee mindset’ to successful business owners,” Nagel said.
Navigating Motherhood and Entrepreneurship: Karina’s Journey and Lessons for All
“As a mother and a business owner, I’ve faced many challenges. It’s been a constant balancing act, trying to harmonise the demands of motherhood with the responsibilities of running a business. Juggling childcare, kids’ activities, and household duties while managing the day-to-day operations of my e-commerce business was often overwhelming,” Nagel said.
“Time management became a daily battle. I had to find ways to allocate enough time to nurture my children, meet the expectations of my corporate role, and handle my own business deadlines. Prioritisation and time management were essential skills I had to cultivate.”
Like many entrepreneurs, Nagel confronted moments of self-doubt. Questions about whether she was giving her all to her family and business occasionally crept in, causing moments of insecurity.
“Entrepreneurship can be isolating, and being a mumpreneur amplified this isolation. It wasn’t always easy to relate to other business owners who might not fully grasp working mothers’ unique challenges,” Nagel added.
“Investing in and scaling my e-commerce business came with financial risks. There were times when I had to make tough financial decisions and the uncertainty of business outcomes added to the stress. But with these challenges came numerous successes.
“One of the most significant successes was the remarkable growth of my e-commerce business. Starting from scratch, I built it into a multi-six-figure venture, a testament to my determination and business acumen. Having over 10,000 customers was an amazing milestone.
“Work-life integration continues, but I’ve learned to blend my work and family life more effectively. This has enabled me to spend quality time with my children while pursuing my passion for entrepreneurship, and now my dream is helping other women to achieve their goals.”