As a woman entrepreneur, Nadia Ladak faced several challenges in starting Marlow, a Canadian menstrual wellness company that has launched the first-ever lubricated tampon. In a recent episode of The Finance Cafe podcast, Nadia shared her story of how Marlow came to life and the challenges she faced as a woman entrepreneur.
From Idea to Launch
Nadia’s inspiration for Marlow came when she and her co-founders were taking an entrepreneurship capstone course in their last year of university. Their professor encouraged them to find a problem they were passionate about solving. Nadia’s co-founder shared that she always had pain inserting tampons, and the gynecologist’s advice to spit on her tampon was not satisfactory. The lack of solutions for women’s menstrual pain became the starting point for Marlow’s first-ever lubricated tampon.
Starting a business as a woman entrepreneur is no easy feat, and Nadia faced several challenges. Lack of capital and a limited network forced her and her team to turn to grant programs, accelerators, and pitch competitions to raise funds. To date, Marlow has won over $400,000 in non-dilutive cash to support their business. Nadia encourages women entrepreneurs to enter pitch competitions as a way to build their network and gain valuable experience.
“We didn’t have the network that maybe some people who are further along into their careers did. We had to go through grant programs, accelerators, pitch competitions, and that has been actually so key to our success because we’ve built our network organically through winning those pitch competitions.” – Nadia Ladak
In Canada, there is a significant push to advance women’s economic participation in the economy. With over a million Canadian women or 37.8% being self-employed, initiatives like the Women’s Entrepreneurship Knowledge Hub and the Women Entrepreneurship Strategy by the government of Canada are offering much-needed support for women entrepreneurs. Nadia encourages women entrepreneurs to start by finding a problem they are passionate about solving and to seek support through grant programs, accelerators, and pitch competitions.
Changing the Conversation Around Menstruation
Nadia believes that conversations around menstruation and reproductive health are essential to women’s wellness. Periods and menstruation are still stigmatized topics in our society, and discussing them can often lead to discomfort, shame, and embarrassment. While the topic remains taboo, younger generations are beginning to take charge of their health and are not afraid to discuss menstruation on platforms like TikTok and Pinterest. Marlow’s goal is to provide education and spark conversations around menstrual health, making periods smoother and more comfortable for women.
One of the ways Marlow is tackling this issue is through their online presence, including their TikTok, Instagram, and blog content, which aim to spark conversations about anything from skincare during your period to exercise routines. They also offer school workshops and have partnered with high schools and universities to talk about periods and encourage positive conversations about menstruation. In addition, Marlow is involved in initiatives to provide menstrual products in public facilities, including gyms, libraries, and office buildings.
Initially, Marlow faced resistance when pitching their menstrual product idea, with many people not realizing that menstruation is a real problem that affects millions of people. However, by sparking conversations and challenging the stigma around menstruation, Marlow is encouraging people to consider alternative menstrual product options and ultimately feel more confident and productive during their periods.
Starting a Business? Here’s Where to Begin
As an aspiring woman entrepreneur, it can be overwhelming to start with an idea and figure out where to go from there. However, with the right mindset and strategies in place, it’s possible to turn your idea into a successful business venture. Here are three tips to help you get started:
- Be comfortable with testing and learning, and don’t be afraid to fail fast
In the startup world, making decisions with imperfect information is the norm. It’s easy to get stuck in analysis paralysis, but moving quickly is a crucial advantage. Don’t be afraid to test and learn, and don’t be afraid to fail. Failure is an opportunity to learn and improve.
- Focus on the problem you are trying to solve
Before investing your time and energy into your idea, ensure that it solves a real problem that customers are willing to pay for. It’s essential to determine whether the problem is worth solving and whether the business is viable.
- Find thought leaders in your space to add credibility to your business
Building relationships with thought leaders can help add credibility to your business. Reach out to people on LinkedIn who you admire and ask for a 10-minute call to tell them about your idea. They can offer diverse experiences and perspectives that can help you grow your business. Consider creating a personal board of directors to gain valuable insights and support.
In conclusion, starting a business as a woman entrepreneur can be challenging, but it’s possible to succeed with the right mindset and strategies in place. Nadia’s story is an inspiring one, demonstrating that with determination and support, women entrepreneurs can succeed in business, even in industries where women’s health has been overlooked.
The Finance Cafe