Many of the countries in central Asia are struggling to develop their economies so as to raise their GDP and improve the lives of their people. There are many challenges, politically, socially and economically. IBEC finds it a privilege to serve clients trying to overcome amazing hurdles as they serve the people with jobs through profitable businesses.
As these countries struggle to develop their economies, they rely heavily on imported products and this depletes foreign exchange. Any business that can manufacture a product internally, not only creates jobs, but it also helps develop the economy. One client was informed by the secret police who told him, “we want foreigners who can build things and hire local people.”
Pete is one such kingdom worker. As he looked around in his industry of knowledge, he had to determine exactly what the problem was that needed solving and clearly state a unique value proposition. He then envisioned a mechanical warehouse apparatus that would be of high value to several industries.
Think of all that this involves.
First, Pete following the lean startup model, was able to determine that there would be customers who would pay the price for such a convenient device. As an engineer, he was able to lead a team which built a prototype on site in the country. The consultant and others created a financial plan with a cost structure which would provide revenue with enough cost margin.
Investors came next and IBEC consultants helped him create a pitch plan to present to investors, and everyone was encouraged when they were awarded $80,000. Now comes the action plan, with IBEC’s consultant helping with its development. Pete then set about securing government registration and certification. Others are helping produce a sound sales strategy, which will reach prioritized targets, both the primary customer and secondary targets.
Entrepreneurs like Pete never work alone, but they realize they need a team, both on site in the country and also coaches, consultants and investors abroad. They also depend on the soft-skills in a team of people supporting through cultural advice, encouragement and prayers. Pete is committed to the quadruple bottom line of Business as Mission – a profitable, sustainable business, job creation, disciples of Jesus and stewardship of creation.
And there is a multiplier effect as others see what is possible through Pete’s experience and he is able to coach and encourage them. God is at work – jobs are being created – and disciples are following Jesus.
Larry Sharp, Director of Training, IBEC Ventures
larry.sharp@ibecventures.com