Looking to build and eventually sell your business? These moms did, and did it their way
Mabel’s Labels are rockstars in the entrepreneurial community here.
The company was started by four moms in 2003, making durable, personalized and cute labels so that kids don’t lose their stuff. It’s like an insurance policy — buy a piece of clothing or item that kids will schlep to school, daycare or camp, and ensure it comes back.
The company grew substantially and evolved into a leader online, back when e-commerce wasn’t the ubiquitous phenomenon it is today.
In 2016, Mabel’s Labels was acquired by CCL Industries, the parent company of Avery labels, which cemented the entrepreneurial success story.
But their success has more to it. I got to know the ladies at Mabel’s Labels early in my entrepreneurial journey and their commitment to helping other entrepreneurs has always impressed me. The co-founders have always made time to lend an ear, bounce around ideas or celebrate a fellow woman-owned business. And be real about what it takes to run and grow a business.
They have done it their way, which is so authentic and inspiring.
Here is my conversation with Julie Cole, Co-Founder of Mabel’s Labels.
How did you and your cofounders start Mabel’s Labels?
Mabel’s Labels started for two reasons. The first was that we noticed a product was missing from the market – cute, durable and personalized labels for our children. We had been using masking tape and markers on their bottles, sippy cups and other belongings. Basically, we filled a gap in the market place. The second reason was that my eldest child, who was three at the time, got diagnosed with autism. I didn’t think that working in the traditional workforce would suit my family needs. While starting a business certainly was busy and very time consuming, it did provide me with the flexibility I needed.
Along with my Co-founders, we created a business plan, did market research, tested materials and generally hustled to launch Mabel’s Labels!
When you were starting out, how did you get the business off the ground and gain momentum?
We certainly didn’t have much money for advertising, so relied heavily on word of mouth. Luckily, moms loved our product from the start so spread the word with their friends, sisters, moms at school, etc. We got a few great PR hits early in the game which certainly helped as well.
You were 4 co-founders. What advice would you give to another mom starting out on whether she needs cofounders or not?
The four co-founders for Mabel’s Labels came together quite naturally – we were all friends from University and ended up all being related when two of them married my brother and uncle! Having co-founders can be both wonderful and complicated! I felt it really contributed to our early success and quick growth. Rather than one person doing all the work, we could divide and conquer! It was also great to have four different brains at work. It made for lots of great ideas and suggestions. I find being a solo-entrepreneur can be lonely for some. We were always surrounded by people equally passionate about our business. But, when you have four people at the table, there can be lots of feisty conversation. We always just worked on our communication skills and tried to keep our eye on the ball – our wonderful business!
What’s one piece of advice you’d give to someone else who is considering pursuing a similar path?
I would say it’s important to be realistic. You have to have an appetite for risk and you have to understand that you are going to work VERY hard for a long time without gaining the benefits of glory and money! The life of entrepreneurship is hardly glamourous, though it is often portrayed that way. If you have a spouse or children, you will need them to back your passion 100%. There will be sacrifices along the way.