George Blair — Finding The Pearl In Shark Invested Waters

Transcript

1. Nego%a%ng  Shark  Infested   Waters  and  finding  the  Pearl.  
2. So8  Hearted  –  So8  Headed   •  Almost  invested  in  Bee  Hive/Honey   Business.   –  However  hives  produced  no  honey.   •  Invested  in  Bakery  and  Product   Transport.   –  No  loan  repayment.   •  Invested  in  PoFery  Kiln   –  Kiln  blew  up  on  start  up.   •  Invested  in  village  commodity   trading.   –  First  small  loan  repaid,  second  larger   defaulted.  
3. First  Lesson  -­‐  Tabaka  Village   •  Wanted  investment  in  a  tourist   lodge.   •  Reality  is  they  wanted  access  to   quality  customers.   •  Were  not  producing  during  rainy   season.   •  £500  for  rain  shelter  provided  in   return  for  produce.   •  Transport  cost  to  UK  was  £1000,   however  £1500  cash  was   recovered  on  sale  of  product.  
4. Light  in  the  Darkness   •  Product  sold  for  £1500.   •  Opportunity  to  reduce   transport  cost  from  £1000   to  £200?   •  Possibility  for  £800  (50%)   variable  margin.   •  Issue  with  Fair  Trade  Agent   with  30%  mark  up.   •  However  Transport   company  gave  straight   replies  and  delivered   efficient  service.  
5. Market  Access   •  Just  Buy  UK  created  in  2007.   •  One  man  band/part  %me.   •  Working  with  small  cra8  groups.   •  Selling  wholesale  (for  volume).  
6. Status   •  Ini%al  challenge  was  customer  base.   •  Current  challenge  is;   –  Product  mix   –  Produc%on  limita%ons   –  UK  staffing   –  Logis%cs/storage  
7. Key  Lessons  Learnt   •  Do  not  let  your  heart  rule  your  head.   •  Triple  boFom  line  is  only  sustainable  if  the   financial  boFom  line  is  achieved.   •  Iden%fy  a  trustworthy,  competent  local  agent.   •  Beware  of  grand  plans,  they  frequently  result  in   grand  failure.   •  Think  small  un%l  people  have  developed  a  track   record.     •  Never  underes%mate  the  probability  of   miscommunica%on  and  its  impact.