1. Question C:
Describe a time when
you took a great risk.
What was the
outcome?
Starting My Own Olive Oil Import and
Distribution Business

2. The Risk
• Starting any business is risky.
• Trying to sell olive oil in a market where most people
are not even aware of its existence is doubly risky.
• India doesn’t produce any olives. People use other
edible oils that are available at less than half the
price of olive oil.
• Without a background in business and without any
experience I invested all my money and also borrowed
some from friends with the promise to repay with
interest in 5 months.

3. Why was the risk worth taking?
The prospects:
• Olive oil is being seen as the preferred cooking
medium among health conscious affluent families in
big Indian cities.
• The demand of olive oil has been growing day by day.
• Even though small percentage of families use olive
oil, given the large population in India, even small
percentages translate into large numbers.
Entrepreneurial mindset: high rewards require high
risks.

4. Chasing the opportunity …
• Careful, systematic research helped segment
prospective customers according to age, income level,
social class and occupation.
• Identified pockets where target customers are likely
to be found.
• Identified stores and restaurants in these pockets.
• Talked to stores and restaurants to estimate demand
and fix consignment sizes to start operations.

5. … managing the risk
• Distributed product samples to selected stores and
restaurants - obtained positive feedback and firm
commitment from them to buy 2000 liters.
• Estimated financial requirement of $15000 for the
first consignment, covering operating
expenses, insurance, shipping and emergencies.
Committed $6000 of personal savings. Obtained
balance from friends with a clear return and interest
commitment.

6. Implementation
• Carefully chosen product quality, good price, and in-
store marketing support helped sell all of the first
consignment within 6 weeks.
• Sales have steadily increased to 4000 liters per
month.
• Earnings from operations ensured timely repayment
of loan from friends.
• Ground work is in progress to build my own brand of
olive oil.

7. Learning
Opportunity
Risk
Management
Success
The drive created by the opportunity helps find ways to manage risks.

8. Much obliged for your time