A very interesting interview was held with V. Bayarsaikhan, director of operations of “And Global” company. Get to know the ambition of a social entrepreneur who “escaped” from the soft seat of a world-famous company in the Silicon Valley, fights poverty by creating creative destruction in Mongolia’s financial system through technological innovation, and turns the fortunes of social groups that cannot access banking services!
V. Ganzorig: I know a lot about you since you founded Biznetwork many years ago to create Mongolia’s Linkedin. Was your project successful?
V. Bayarsaikhan: Actually, when starting this project, there was no plan to make Linkedin. Hi5 was all the rage back then. There was a time when Mongolians had a problem with English when it came to using social media. At that time, I had just come to Mongolia after finishing school in Turkey. Driven by my hobby, I wanted to make a nice social site. Before that, I started two projects, AdNetwork and BizMarket, but they failed due to lack of business calculations.
After that, I started thinking about how to make money. Apart from that, when starting this project, I did not expect much vision and profit from the beginning. My desire to make something beautiful led me to this project.
VG: Did you start these projects without any investors or loans
VB: I borrowed 5 million MNT Argentina Email List from my friends. They trusted me and gave me money without asking what I was going to do. With this money, I started two of my aforementioned projects, AdNetwork and BizMarket, but they failed and I returned the money. At that time, I found out that it was possible to provide services to others through outsourcing. Within two years of posting his company’s information on the Internet, Singleton received nearly $100,000 worth of work from Western countries such as America and Canada alone. With this income, BizNetwork financed its project and presented it to the public for the first time in February 2009. 600 people registered in our network on the first day that it was closed or opened by invitation only. After a month, it had 2,000 users, and after six months, it had 10,000 users. And after six months, I started thinking about how to earn money. As part of this, the Name card party was organized for the first time and SS Club was filled with young people.
VG: If it’s not a secret, please tell us about your two failed projects in the past
VB: Let’s talk about the first project AdNetwork. When I came to Mongolia, when I flipped through the newspaper, there were CU Lists a lot of advertisements. The sites also had many banners. I saw that there is a business opportunity if we can connect the parties who are giving ads and those who are interested in ads. At that time, the only advertising parties were large companies. I thought, why not have a platform for small and medium sized companies to advertise? The system was built from a purely IT perspective, but it started without any business or marketing plan. After making the system, I went to present it to almost all the big companies, and I realized that this model will not go further, and I will not be able to make money. The next project was BizMarket, an e-commerce project for shopping without going to a store in person. The system is well made, but it got stuck on how to find sellers and buyers who will use this infrastructure. Then they combined the names of these two failed projects and decided to create BizNetwork, a social site that connects working, socially active and beautiful young people.