01.02: Strategies for Business for Transformation

Our company may engage in two general strategies for initiating Business for Transformation. The first strategy is that our company's worker starts a business that will enable his or her family and possibly other expatriate teammates to live in a community long-term. Under this strategy, our company's worker is committed to the idea of making the business survive and thrive and may have undefined or indefinite plans to be involved in the business, usually at least five to ten years. The worker may have a goal of selling or turning over the business to someone else, or she/he might plan to build on the opportunities that the business creates. Either way, ownership decisions are dictated by what makes sense from a business perspective and according to the founder's personal desires rather than based on a specific time frame or artificially imposed goal. 

The second strategy is that our company's worker incubates a business model with a clear goal of turning the business over to local ownership at some point. Under this strategy, the worker desires for the business to be owned and operated by a local person and may have a specific time frame planned for transition of ownership (usually within just a few years of startup). 

Historically, this strategy has presented some significant challenges in execution because of the gap between vision and ownership. Many people have vision for business, but ownership implies commitment to bear the business's risks and responsibilities. When our company's worker desires to turn a business over to local ownership, the local person's commitment to business's success may be unclear. 

Due to the challenges associated with transitioning ownership, when our company's worker chooses to employ this second strategy, she/he should always consult with experienced economic development professionals. Generally speaking, the earlier that a local partner can be involved in the business's design, implementation, and investment, the more likely a successful ownership transition becomes.