KHALIUN Purev - On Co-founding BetterCo, the Only Sport Supplement Company for Women by Women
Interviewed by Onon Evans. Photographed by Justinian C.
Get to know Khaliun Purev (Class of 2009), a co-founder of BetterCo, the only sport supplement company for women, which is founded by women. Previously, Khaliun worked at Gangar Holding, Net Conversion, the UN, AND Global, and Royal Mail.
Trilingual in English, Russian and Mongolian, she has a B.A. in Business Economics and Public Policy Analysis at Indiana University Bloomington; and M.S. in Finance from University of Rochester.
Full name: Khaliun Purev
Hobby Alumni: Class of 2009. Years attended 2005-2009.
Higher Education: B.A. in Business Economics and Public Policy Analysis at Indiana University Bloomington; and M.S. in Finance - University of Rochester
Languages: Mongolian, English, and Russian.
Sector(s): Finance, Fin-tech, start up, financial compliance.
Countries lived in: Mongolia, the US, the UK, Philippines.
Current Workplace: The Better Co.
Past Workplaces: Gangar Holding, Net Conversion, the United Nations US headquarters, AND Global, and Royal Mail UK
Frequented Website: because of pandemic bbc.co.uk
Current phone: Iphone 11
3 Favorite Restaurants or Coffee shops in UB: Rosewood, Veranda, Sakura
3 Books To Recommend: Brief answers to the Big questions by Stephen Hawkings,The Brain: The story of you by David Eagleman, Becoming by Michelle Obama.
3 Movies or TV-Shows To Recommend: Fargo (the movie and the tv show), all Michael Schur tv shows, all Tarantino movies.
3 Songs You Are Listening To Most Right Now: Gooey by Glass Animals, Baba O’Riley by The Who, telepatía by Kali Uchis
3 Apps To Recommend: Strava, LendMN, Aaptiv.
3 Podcasts or YouTube Channels To Recommend: Freakonomics by Stephen J. Dubner, Global News Podcast by BBC World Service, Unlock Podcast.
EDUCATION
How many years have you studied at Hobby School, and where have you studied before and/or after Hobby?
I joined Hobby from a Russian school (which had an embarrassing name, and it no longer exists) in 2005; and graduated in 2009, so in total 5 years.
What kind of a student were you? What was your favorite class/subject and who was your favorite teacher?
Oh my, I was so many things in Hobby. I think I started as a girly girl, then ventured into Emo-ism, then to a nerd and back to a girly girl.
You were at various schools in Mongolia. How different were they from one another?
Not that many people spoke English in Mongolia back in the days. I think Hobby was the only place in Mongolia where English was more commonly used than Mongolian.
What’s your fondest memory at Hobby?
Friendships I made. All of them are still in my day to day life. For example, I met my best friend Anudari Batjargal when we used to wait for our little brothers to be done with their classes. Now she lives in Seattle and we are as close as we were then.
How did you prepare for SATs and TOEFL? Any tips?
I did all that 12 years ago so my tips are probably not relevant. But now if I look back, I don’t understand why I was so stressed or scared of the exams. It is really not the only thing that will determine the course of your life.
“Just put the necessary work in, don’t look for shortcuts and most importantly be confident.”
After graduating Hobby, why did you pick Business Economics and Public Policy for your bachelor’s degree?
I was really young when I graduated from high school so I just followed what my parents wanted. But I’m really lucky in a sense that I found my passion blindly.
Did you get scholarships? What originally made you want to study at Indiana University Bloomington? Were you the first Mongolian student there?
Unfortunately no scholarships. It is going to sound crazy, but I chose Indiana because my then boyfriend, now-husband was already a student there. I graduated from Hobby when I was 15 and honestly, I had no idea what I was doing with my life. I am so happy that he came into my life to guide and mentor me through this thing called life.
What did you do after your bachelor’s degree?
I went back to Mongolia, thinking that I could be a useful addition to the job market. However, I learned very quickly that a college degree without experience is useless.
Why finance for a master's degree at University of Rochester?
I did my undergrad in macro and micro economics so in order to diversify my knowledge and add more tangible skills, I chose finance. Plus, I’ve always been comfortable with numbers.
How different was Indiana University Bloomington compared to the University of Rochester in terms of both education and lifestyle?
Indiana was a state school, therefore, the student population was large and it took me a while to find my place. Once I did, I made some of the best friends of my life. On the other hand, Rochester was a private research institution, so everyone who was there had similar goals to me. I am happy that I saw two sides to the American university experience and I think there are pros and cons with both options.
CAREER
You’ve changed your jobs quite often. Was it spontaneous each time or was it planned? Was it hard for you to adjust to each environment? Or did you prefer it that way?
I’ve changed my jobs because I changed where I lived very often. It was just very spontaneous. Growing up in Mongolia, it was hard to see myself as a career woman. People would tell me to find my passion and do what I want, but finding what you like was really difficult for me. Even today I still don’t know what I want to do with my life, but I’m definitely getting closer to it. I just took every opportunity that came in my way to figure out if it’s something for me. I was being open minded and said yes to every opportunity and these are the reasons why they were spontaneous.
You are now working as a Regulatory Manager at Royal Mail? What does a Regulatory Manager do? Does it require a lot of interaction with the government? If so please compare to that of the Mongolian government from your experience.
No, I am no longer working at Royal Mail.
“At Royal Mail, I was responsible for the communication between Ofcom and Royal Mail as the Regulatory Manager where I made sure that RM was not abusing its monopolistic power. ”
Ofcom is the Office of Communication, the Ministry of Communication in the UK. Because Royal Mail has a monopolistic power, it is highly regulated by the government, which is Ofcom. Ofcom makes sure that Royal Mail is not using its monopolistic power to manipulate the market or the customers. My day to day work includes communicating with Ofcom, assuring them that our products are fairly priced and that our margins aren’t too high or too low.
The difference between the Mongolian and the UK government is that companies are very scared of the Government in the UK. There is no chance of loopholing, so whatever the Government says, you have to follow. Royal Mail is a big, multi billion dollar company and we do all that is asked of us by Ofcom. Even a single letter needs to be proofread by five to six people and the Head of our department has to sign off before it is sent. Here the government is everything. It is also very public. Everything Ofcom does is very transparent. They post every consultation and investigation they are doing on their website. Hence, the public can also hold Ofcom responsible for not keeping certain companies under their radar or not controlling them well enough to protect the consumer so at the end it is the consumer who controls everything.
Now you are working on LuxyCrush? How did you come around to founding it? What were the obstacles and the lessons learned?
LuxyCrush was something I did in college. It was a long time ago and right now I’m doing my own company called BetterCo. Is it ok if we talk about that instead?
Sure. What made you found your own company BetterCo?
BetterCo is a technologically based, personalised nutrition company targeted to women. My friend Pree and I came up with the idea when we were just having a casual conversation. I do a lot of workout as well as my husband, who is an amatuer athlete. We know our nutrition and what supplements to take. On the other hand, my lawyer friend, who is too busy to do all the research for herself, asked me about what kind of supplements to take to become a bit more lean and fit. As we were discussing it,
“...we found out how the majority of the nutrition companies tend to be more tailored to men and they don’t really explain how differently it may affect women. ”
We are trying to create a platform where a woman can shop for the end results like skincare, where we look for hydration, anti-wrinkle, etc. So why can’t nutrition supplement companies be like that? A customer will fill in a questionnaire where it asks for what the customer is looking to accomplish such as losing weight, bulking up, getting fit or increasing endurance. Depending on that, we recommend the best possible supplements that are medically proven and studied.
This sounds very useful. When did you start BetterCo?
We have been working on it on and off for the past 2-3 months. The main problem has been the pandemic, of course. Everything is shut down in the UK and also due to Brexit, it has been quite difficult to source our products from the EU. For these reasons it has been moving a bit slower.
How many employees/members do you have so far?
So far it is just me and my cofounder Pree. We have a Swedish intern and an assistant in Asia. Everything else, such as website and application development, is outsourced so that we can focus on delivering the best product to our customers.
Ok, let’s talk about your past work experiences. What kind of company is Gangar Holding LLC in Mongolia? What did you do there?
Gangar Holding LLC is a construction and real estate development firm in Mongolia. I was an associate there and it was my first job right out of college. I was 20 years old.
“It was not a very smart decision for a 20-year-old girl to go into the construction and real estate industry, which is very male dominant. However, I learned how to deal with Mongolian men.”
It can be quite challenging. But this lesson helped me to learn to deal with other men which then helped me to survive in any male dominant industry.
You were pretty busy with studying and working on different jobs simultaneously between 2012 and 2015. For example, in 2014, you were working 3 different positions at the Parliament of Mongolia, LuxyCrush and Gangar Holding LLC. How did you manage that? What were the difficulties and what would you advise on overcoming such achievement?
I was in Mongolia from 2012 to 2015. I graduated in 2013 and I wanted to do my masters but I needed experiences on my resume so my application can be more favorable. That’s why I was shuffling through a lot of things. I honestly think that work and personal life in Mongolia is very manageable. Everybody goes to work at 9 and most companies never work later than 6 so it is very possible to shuffle two to three things on the side. There is really no secret to it, it just needs good time management.
I see you worked at the UN headquarters in the US from October 2017 to April 2018 too. Please describe your experience of working there.
The first month was amazing. It made me realize how little our individual problems are. There are a lot of people that suffer a great deal, everyday throughout the world and everything I complained about in my life seemed like nothing in comparison. It was a very humbling experience.
However, the UN was too slow and bureaucratic in my perspective as a market efficient economist. It was not a place for me to grow as an individual and as a professional. That’s why I decided not to pursue a career in NGOs and public firms.
That’s why you joined AND Global afterwards? Were you one of the first members to start this start-up company? AND Global founded LendMN in Mongolia, right? How successful was it?
I was not one of the first members to start the company. I read about the AND Global on Forbes when I was with the UN. That year I had to go back to Mongolia for personal reasons and I didn’t want to work for a typical Mongolian company again. This company was the first ever Mongolian start-up and it was very global and the people were very open minded and even wore jeans to work. I wanted another startup experience and this was exactly what I wanted. I was talking to Mathew Welch on LinkedIn and I was asking how the job market was doing in Mongolia and that I’m planning to go back there. He told me to email them my resume, which I did, and the rest is history.
Was is a past term.
“AND Global is still very successful. It recently raised 10 million USD from Marubeni, a very big Japanese financial institution. So AND Global’s future is looking only brighter.”
Do you think your experience at starting LuxyCrush has helped with the launch of LendMN and its success?
I didn't launch LendMN.
“I would rather say that my experience at LendMN pushed me to start my own company. Working with the CEO Anar Chinbaatar really opened my eyes to the possibility of starting my own company and being my own boss. I’ve never felt like I could do it before.”
I come from a somewhat conservative family in Mongolia where women are expected to be the best mom and the best wife. Working for AND Global and talking to Anar ah helped me envision how I can be a successful entrepreneur and start a family. It is not the 19th century where we have to work 24 hours. Smart working is the next efficient way of working now.
What do you find rewarding from your jobs?
“I’m a very OCD person. Whenever I complete a task, I get this sense of joy of completion. I love organizing and listing things to do and then checking them off.”
Seeing the final product is the most exciting and rewarding part of any job I do, even when cleaning my house.
To what extent were you able to use your degrees and what you learned at universities for all positions you worked at? Would you say the skills you learned on the job were more realistic to achieving certain jobs?
Yes, definitely. When you apply for a job, your previous experiences help a lot because interviews are all based on your past experience. Job experience matters more when getting a job. It sounds stupid and counterintuitive but it’s the reality. This system definitely needs to be changed but that’s a different topic.
Once the job started, I was actually able to use my knowledge from my university, especially from my masters. Doing my masters, I was able to learn the applicability of what I was learning to real life, compared to bachelors degree where I was 16 and all that mattered was getting an A. I don’t remember much of what I learned in college, but I think it made me understand who I want to be in this world.
You worked in several different companies and industries across seas. What were the differences of working in local, international, state and private companies as well as starting your own? Which do you prefer the most and why?
That’s a good question, I never thought about it. They all have pros and cons. In local private startup companies, the pro part is that what you do matters and it affects the success of the company. You can see your input and feel your importance versus working for a big international corporation, you are just a number to them. You are just required to bring in more money than you are getting paid.
“The con part of working for a small startup company is that cash flow is not certain. There may be days when you don’t get paid or even the company may go bankrupt, but that is the risk that comes with it. ”
Whereas if you work for a big company, you know it is going to be there and they will not be able to fire you that easily because it is a big corporation. So if you have a family and/or mortgage then maybe a big reliable corporation might be the best option. I personally like startups because I don't mind putting the hours in and I’m at a point in my life where I can afford to take that risk.
Biggest mistake/challenge you have faced at work and how did you overcome this obstacle?
The biggest challenge was the cultural differences. Every time I moved jobs, the culture changed with it. You can’t expect the UN to have the same vibe as AND Global. I had to adjust my expectations, the way I talk and the pace to work at. For example, coming from a Mongolian startup company to Royal Mail was very weird and different. The pace changed and I had to be mindful about what I can and cannot talk about. To cope with it I had to be very understanding and not afraid to ask for help.
“In Mongolia, asking for help is seen as a bad thing. So overcoming that and learning to ask for help has been the biggest challenge.”
If you don’t know something then just go and ask. The worst thing that can happen is the other person saying no.
You are working and living in the UK for the first time right? How different is it compared to the US? Which do you prefer and why?
The UK was also a very spontaneous choice for us.
“When Trump got elected, it made the visa situation very difficult in the US. My husband and I wanted to start our family but we couldn’t with the whole visa issues so we moved to the UK after a thorough research.”
Neither of us have been to the UK and didn’t know anyone here. It’s completely different - more organised and cultured. The US is the messier and hippie cousin of the UK. We experience a lot less systematic racism in the UK than the US. For that we are much preferring to live in the UK than the US.
Is there a specific position or a company/industry you are working towards? What is it and why?
Besides BetterCo, we are also starting a woman focused initiative called BeHer.
“During the pandemic we’ve seen a lot of hatred towards women like domestic abuse and an overall violence towards women, Asian in particular. For example, in London, the police murdered a woman that was walking home. ”
We are not safe in this world. So I want to raise my voice with my fellow women about our concerns about our safety. BetterCo profit will help me to finance BeHer to tackle this systematic sexism we deal with every day, even in a developed country. I don’t have a specific position or a company/industry I’m working towards, but I really want to turn BeHer into something, especially in developing countries where women are neglected even more.
How is COVID-19 affecting your current work/industry? And what are you doing to cope with it?
It affected the entire UK and Europe really badly. I don’t think the US and Mongolia experienced it as bad as we did in terms of lockdown. We haven’t been allowed to leave our homes for over a year now.
“Me and my husband have been working from home in our one-bedroom apartment in London. We haven’t seen our family members for over a year and a half now. It (Covid-19 lockdown) has been mentally very difficult for both of us.”
We obviously didn’t have it as bad as the illegal immigrants here in the UK who lost their jobs and cannot get government benefits and can’t go home because Mongolia closed its border.
We worked out a lot to cope with the pandemic. My husband became a cyclist and I became a runner. I ran my first marathon, which is 42k, 2 weeks ago.
Are Asians being discriminated against in the UK during the pandemic? How serious is it in London?
I cannot say for all Asians but personally I didn’t feel any discrimination in London where I live. I don’t know how it is outside of London. I didn’t feel like I was in any kind of danger or any discrimination. London is a boiling pot of so many different cultures and races so there is no one particular dominant race. It is like New-York. There is no majority, therefore no on-your-face racism.
Do you prefer working from home or the office?
My preferred schedule would be going to the office 3 days a week and 2 days working from home. I’ve realized how much time I lose in transport. I do like how going to the office gives me structure for the day. Otherwise I will wake up at 8.59 and go to my computer (giggles). I’d like that but not for the whole week.
Do you have any plans to come back to Mongolia and work here? If so, what do you want/plan to do?
Definitely.
“I want to go back when I can be a useful citizen. Right now, I don’t think I’m polished enough to be useful in Mongolia. I want to take BeHer initiative and make it into one of the biggest nonprofit organizations in Mongolia. ”
It will help women in Mongolia who are experiencing domestic abuse but cannot leave their husbands because they have no place to go. I want to offer them access to shelter and give them training and teach skills so they can be employed so they don’t have to depend on their husbands. I am trying to create a women empowerment initiative in Mongolia. I don’t think I'm ready yet but I will be when I decide to go back.
FUN QUESTIONS
May we ask about your marriage? What are your thoughts on family planning in Mongolia?
Since I’ve lived abroad for many years, I am unsure what the current status quo for family planning in Mongolia is. However, there’s one thing I can say with certainty and that is: DO NOT RUSH.
I am happily married to my best friend and we have been together for over 12 years. Our relationship is based on mutual respect where we both encourage each other to develop personally and professionally.
How do you relax? What’s your hobby or where can we find you when you are not working?
“I am a long distance runner. I love going for 3-4 hour long runs, just by myself, with my thoughts. That’s when I organize all my ideas and come up with a to do list. ”
When you were young, what did you want to be when you grow up?
I don't know why but I’ve always wanted to become an economist and a lawyer. I think it was my dad who subconsciously pushed the idea into my head haha.
Who is your role model in Mongolia? A living person and why?
My parents. Honestly, I think they are the strongest generation. They are the ones who created something out of nothing.
Do you have any mentors? How did you pick them as mentors?
I think having that connection with your mentor is really important. For that I am still looking for my mentor. But I am so happy to have been surrounded with so many inspirational professionals in different fields who have taught me life long lessons.
If you could compare yourself to another animal, what animal would you be?
A bird? So I could travel whenever I want. Getting a bit bored of gloomy London.
What’s the best life advice that you’ve received? Who gave this advice?
“If you can’t love yourself, how the hell are you gonna love somebody else?” by RuPaul. It is something I tell myself everyday.
A personal advice you would like to extend to fellow Hobby Alumni?
When Hobby students reach out to you please make a conscious effort to help them out.
A personal advice you would like to extend to fellow Hobby students?
“Use your resources, reach out to alumni. You have to initiate the move because magic rarely happens to people who stay put. ”
Talk to people, there is no such thing as an useless opinion.
What are your good and bad habits?
OCD. It is bad and good. It's good when it comes to work and cleaning. It is not good when it comes to unnecessary hours of research about an unsolved murder.
Funniest story at work you can share with us?
Royal Mail is a very old and conservative institution but coming from a start up I had non-traditional office outfits. One time my line manager asked why I was wearing my jacket indoors. It was a boyfriend blazer. Another time he asked if I knew that my nail colors were not matching. It was intentional. So I got him Vogue. He is a white man in his 50s haha.
If you can pass 1 law globally, what would it be? Now if you can fix 1 problem in Mongolia, what would it be?
When I was with the UN, I was working for a department called OHRLLS. We were responsible for coming up with sustainable economic development projects for least developed landlocked countries.
“Landlocked countries tend to economically and socially struggle more due to their geographical disadvantages.”
Therefore, if there’s an international agreement to include all landlocked countries in the already existing FTA's, all landlocked countries, such as Mongolia, will greatly benefit from it.
Also, throughout my life abroad and at home I met so many amazing, intelligent women who inspire me to be a better person. I do not think Mongolia is tapping into that powerful resource because of the cultural gender norms. A big key to a sustainable economy is empowered and educated women and I hope I will see Mongolia embracing that in the future.
If you could have dinner with anyone dead or alive who would it be, and why? Also, what would be your first question?
I’ll give you a very honest answer that I actually think about all the time. A dinner with my brother, who passed away when I was little. My first question would be : What do you want me to tell mom and dad?
Name 3 conspiracy theories you believe in.
I honestly never paid attention to any conspiracy theories. They are labeled conspiracy for a reason.
Who would you recommend to interview next from Hobby Alumni? And Why?
My classmate and best friend Tuguldur Battumur. He lives in the US and during this pandemic he successfully opened two branches of his salon. I think he will have very interesting and valuable stories about starting a SME in the US during financial difficulty.
“...throughout my life abroad and at home I met so many amazing, intelligent women who inspire me to be a better person. I do not think Mongolia is tapping into that powerful resource because of the cultural gender norms.
A big key to a sustainable economy is empowered and educated women and I hope I will see Mongolia embracing that in the future.
”