Manila, November 2023 – The prestigious BYU Management Society Asia Annual Conference, held in Manila this November, concluded with an inspiring victory for Bayanjargal Ganpurev, the founder and CEO of MizuYuki Consulting LLC.
Bayanjargal was honored with the People’s Choice Award at the Business Plan Competition 2023, a testament to his innovative approach and dedication to supporting Mongolian companies in expanding their business activities internationally, particularly within the Asian region.
Table of Contents
- Motivation and Preparation
- Challenges and Overcoming Obstacles
- Learning from Others
- Impact of Winning the People’s Choice Award
- Vision for the Future
- Advice for Aspiring Entrepreneurs
- Related Content
In an exclusive interview, Bayanjargal shared insights into his journey leading up to the competition, his motivations, and the challenges he faced along the way. “My primary objective is to support Mongolian companies interested in expanding their business activities into international markets, particularly within Asia.
I aim to enhance the region’s GDP, thereby improving the quality of life for many,” he explained. The economic upturn in East and Central Asia presents a favorable business environment, making this an opportune moment for collaboration and unity as one of Asia.
Motivation and Preparation
Bayanjargal’s motivation to participate in the BYU MS Business Competition stemmed from his desire to demonstrate the viability of business opportunities in Mongolia to young individuals contemplating working abroad. “Through the BYU MS Business Competition, I aimed to show that we can create high-income workplaces and offer a better quality of life to those around us through our business endeavors,” he said.
Preparation for the competition was rigorous and transformative. “The training sessions impart all the fundamental knowledge required for business management, marketing, financial planning, and project management, preparing participants comprehensively for the competition,” he noted. The competition demanded dedication and hard work at every stage, pushing him to deepen his understanding of business management and strive for personal growth.
Challenges and Overcoming Obstacles
Bayanjargal faced several challenges during the competition. As a micro startup business owner, he assumed multiple roles and had to manage his time effectively. “I developed a detailed schedule with specific timelines for each step of the project and prioritized tasks based on their importance and deadlines,” he explained. Language barriers also posed a significant challenge, especially during live presentations in English, for which they hired an interpreter.
Learning from Others
One of the most rewarding aspects of the competition was the opportunity to learn from other participants. “I was inspired by how some participants approached challenges with creative and unconventional solutions,” he shared. Observing their innovative marketing and branding strategies and their commitment to sustainability provided Bayanjargal with new ideas on enhancing his business efforts.
Impact of Winning the People’s Choice Award
Winning the People’s Choice Award is a significant achievement that Bayanjargal believes will positively impact his business. “This recognition can help increase brand visibility and credibility, attract new customers or clients, and boost team morale and motivation,” he said. It also opens doors for networking, partnerships, and collaborations within the industry, potentially leading to business growth and success in the future.
Vision for the Future
Looking ahead, Bayanjargal envisions using the $500 contribution to further benefit his business and community. “We decided to invest it in obtaining official tour guide certification and enhancing our online customer attraction activities. This investment has proven fruitful, culminating in our first order in June,” he revealed. The exposure from being featured on Philippine television has significantly enhanced their visibility and introduced them to a broad public audience.
Advice for Aspiring Entrepreneurs
In conclusion, Bayanjargal offered valuable advice to aspiring entrepreneurs and participants in business competitions. “Participating in the BYU Business Competition is an excellent choice for any businessperson. This competition offers a unique opportunity to refine your ideas through consultation with judges and fellow participants,” he emphasized. He encouraged young entrepreneurs to take the leap and pursue their ideas, highlighting the competition’s ability to foster personal and professional growth and expand one’s network.
Bayanjargal Ganpurev’s journey and success at the BYU Management Society Annual Conference inspire many and showcase the power of perseverance, innovation, and collaboration in achieving business excellence.
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