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Imagine yourself on a beautiful, isolated atoll in French Polynesia. The crystal blue water laps at your toes while you drink milk fresh from the coconut. Children laugh with joy as they play in the warm, tropical waters. Sound nice? Now, imagine that you live on this small island, population 600 and need to make a living. This case is set in the black pearl industry of French Polynesia. It presents the entrepreneurial choices made by a small pearl producer on the island of Takaroa. Here is the situation. Manea Tuahu has not produced a saleable crop of pearls for two years. Prior to that time, the Tuahu family had cultivated black pearls with revenues of roughly $200,000. Unfortunately, the division of the proceeds among the various family members had created hard feelings. This disruption of family harmony combined with a disease that entered the lagoon convinced Manea to stop pearl farming and tend to his small general store. Two years later, he is again considering pearl cultivation to enhance his $6,000 annual income. As he considers changes in the industry and his own strengths and weaknesses in pearl farming, Manea faces a difficult decision. Should he start producing again? Should he shift to being an industry supplier? Should he use family labor or more skilled, hired labor? How will he sell his pearls in an increasingly competitive market? These and other questions cloud his mind as he goes fishing with his friend, Tehina. The primary subject matter of this case concerns the decision of a small, Pacific Island entrepreneur on how to enter the black pearl market. The issues examined are largely strategic and include Porter’s five forces model, value chain analysis, distribution channels, and SWOT analysis. Secondary issues include analysis of the cultural and regulatory environment in which business operates. The case is appropriate for levels three and four. It is designed to be taught in either 1 class hour or 1.5 class hours. Student preparation should take between 2 and 3 hours.