Margo Marrone: A natural instinct for business

A NATURAL INSTINCT FOR BUSINESS

Margo Marrone is a former pharmacy student from King’s who graduated in 1987. She started The Organic Pharmacy in 2002 and today it has stores and distribution all over the world. Margo talks to Zeinab Ruhomauly, King’s Bachelors alumna in Medicine & Surgery, about setting up the business and her tips to aspiring entrepreneurs.

ZEINAB: What prompted you to set up The Organic Pharmacy? MARGO: The Organic Pharmacy is a combination of all my ethics, beliefs and passion. I studied pharmacy at King’s and specialised in pharmacognosy, the study of medicinal plants. After obtaining my degree, I worked for several years in hospitals and in industry and then in retail pharmacy, but I went back to what made me passionate – nature and wellbeing. At the same time, I really wanted to raise awareness about issues such as pesticides in our food and chemicals in skincare products. ZEINAB: What was the biggest lesson you learned from starting the business? MARGO: When you start a business, it takes all your focus and energy. There are also a lot of unknowns, and you must be ready to face them and give it everything you have, even if it means working seven days a week and 15-hour days. ZEINAB: The Organic Pharmacy has a worldwide presence. What obstacles did you have to navigate when it came to international distribution and scaling up? MARGO: International scaling is a minefield and often takes a lot of investment and dedication to proceed. You need the right margins, the right contracts and the right distributor. Some of the early mistakes I made were signing with a new distribution company which had no existing set-up or structure in place. While that can be ok, it takes longer and has higher risks attached.

ZEINAB: What personal attributes do you feel have helped you succeed the most as an entrepreneur? Which have you had to develop? MARGO: My biggest attribute is not taking no for an answer. Usually when someone tells you no, it means they can’t do it, rather than it can’t be done, so perseverance is key. The one I had to develop was confidence in myself – that didn’t come naturally. ZEINAB: What is the best piece of advice you’ve received which you find yourself revisiting? MARGO: I once listened to Dame Anita Roddick DBE, founder of The Body Shop, make a speech about how the value of a business is measured. She said something that I always believed – that businesses should be valued on their social contribution in making the world a better place. However, this is often something that can be swallowed up by numbers and profit. Of course, we all want to have a profitable and successful business, but let’s not forget what its contribution to society is. ZEINAB: What three pieces of advice would you give to an aspiring young entrepreneur? MARGO: One, always put yourself in the customer’s shoes and think: is your product / service something you would buy and use? Once you are 100 per cent happy with the answer, then release it. Two, make sure you have enough money to back your venture, or at least have an idea of how you plan on generating income, revenue and funding. Three, finally make sure you have a good accountant who speaks plain English, especially if you are unfamiliar with financial terms.

‘USUALLY WHEN SOMEONE TELLS YOU NO, IT MEANS THEY CAN’T DO IT, RATHER THAN IT CAN’T BE DONE, SO PERSEVERANCE IS KEY’

@MargoMarrone www.theorganicpharmacy.com

TAKE ACTION!

If you have an idea for a venture or project, check out the support we can provide: www.kcl. ac.uk/EntrepreneurshipInstitute

RECOMMENDED READING

The Organic Pharmacy: The Complete Guide to Natural Health and Beauty by Margo Marrone