Entrepreneurs Share Their Success Stories

2022-12-15 18:44:34

Ulaanbaatar /MONTSAME/. The Khan Bank and "Sodura Consulting" LLC successfully implemented the "Integrated Business Management Program" training for small and medium-sized enterprise owners for the second year with two phases.

During the first phase, the participants learned how to conduct industry research, analysis, and business planning methods and diagnose the level of their five main systems: business strategy, finance, operations, marketing and sales, and human resources. In the next phase, they learned how to work as a team and be successful.

The program was offered in person or virtually, making it possible for local entrepreneurs to participate from Khovd, Darkhan, Arkhangai, Erdenet, and Govi-Sumber aimags. In addition to learning theoretical knowledge, the participants also applied their new experience to real-life cases and group discussions, creating an opportunity to learn from the experiences of others and expanding their networking to increase the importance of the program.

This is the first time in the banking industry implementing an integrated program aimed at developing entrepreneurs' management skills. Some entrepreneurs who participated in both phases of the "Integrated Business Management Program" shared their feelings about the training.

J. Ariuntuya: Executive director of "Artsat Altain Uuls" LLC from Darkhan-Uul aimag

- I participated in this program from Darkhan-Uul aimag. I had beneficial courses within the program, such as company strategy, governance, management, and problem-solving. There need to be more opportunities for business leaders to develop themselves locally. It isn't easy to come to Ulaanbaatar City often. Nevertheless, the most significant advantage of this "Integrated Business Management Program" training was that it was offered in person or virtually. In training, I learned "where my mistakes come from."

Ch. Bolormaa: Founder of “Gezegt” Partnership from Govi-Sumber aimag

- I learned about the essential characteristics of executive director should have to manage a business from this training systematically. I have been in the business industry for 23 years. My company was small, with only five to 10 people, so I used to do everything by myself. When the company grows, it takes a lot of talent to make employees work more efficiently. I realized that it's not because I need to find someone to work with but because I need to put the right person in the right place and learn the skills to create productivity. Now, I discuss with my managers and listen to them more.

M. Bolorchimeg: Executive Director of "Gurvan Munkh Khan" LLC

I have been managing my company for more than three years. During this period, the most challenging thing was to get to know the employees, discover their talent and assign the right person to the right job. I needed to learn how to systematically tell and let my employees know what results I expect from them. However, I can communicate with my employees better by participating in this training. The leader must have good management skills to find and employ a skilled person. In that sense, I learned what kind of leader I am.

O. Otgonjargal: Executive Director of "Sanjain Khishig" LLC

- Our company has been in the business for the sixth year. A friend of mine was diagnosed with diabetes and was about to have his leg amputated. For this reason, I started researching to help my friend and found a story about curing diabetes with a silver ingot from a herdsman. This is where I got my idea to make tea with a paunch and the third stomach of ruminants. It has a high protein content, which is suitable for the treatment. As a result, we expanded our production and developed the "Uvidas" brand.

I became the best participant in the first training course. I was awarded a certificate with possible support from Khan Bank to sell our products on "Alibaba," a Chinese online commercial platform.

D. Amarbayasgalan: Founder of “Terem” Brand

- Our company has been operating since 2019. However, the "Kovid-19" epidemic broke out when the business started and ran successfully. Therefore, we received orders from our customers and created and made many different products at home. At this point, we produced more than 40 kinds of products. Yet, my husband and I disagreed on whether we should continue to make toys or souvenirs, and we needed guidance on where to head our business. While we were stuck, we learned about this Khan Bank training. Now we have all the information we need to expand our production line. It is being gradually implemented.