Whether it’s Black Friday, Cyber Tuesday, December 31 holiday or Easter, every day is a shopping day on Alibaba.
Jack Ma, founder of Amazon’s main rival and one of the largest online shopping conglomerates on the planet, has some lessons for all those who want or are starting a business.
If you are an SME, a multinational, or just starting out; Here are 5 valuable lessons from the richest man in China:
1. Start with what you know how to do and stay open to increase the possibilities.
As a former English teacher, Ma began his foray into the world of entrepreneurship with a translation business in 1995. The defining moment for Jack Ma came when one of his friends introduced him to the new phenomenon called the World Wide Web.
Also read: 40 powerful phrases by Jack Ma that will help you create a business.
He immediately saw the potential, and was open to learning and understanding how it worked. He started from there, and so began the story of Alibaba, seeing an opportunity and seizing the luck of being one of the first.
2. Harness the power of connectivity.
Jack Ma calls for thinking big, thinking global and acting global. To take advantage of the advantages offered by an internet connection.
Also read: Some advice that Jack Ma gave his son.
Previously the scope of a business idea was limited by its location, but the internet crosses oceans and moves money from one country to another every second. It should be used as an expansion platform, to build a community and gain visibility.
Jack Ma and his team started with a small directory called “Chinapage”, which grew rapidly thanks to the good use of the network of networks.
3. When things don’t work out, remember that you can still leverage the results.
A mistake can lead you to meet an influential investor (like Yang), or learn about the challenges of partnering with a bureaucratic entity. Everything is a valuable experience.
Years later, the government contacted Ma to investigate some technical problems with its vehicle sales systems. He took care of the problem for free and the government gave him free rein to run his business smoothly.
Whether you win or lose, it’s all a valuable experience. Click To Tweet
4. Failing is not something you should fear.
It is true that failure does not exist, they are simply corrections along the way. Jack Ma took a gamble by making a partnership with a government entity that ended up being a red flag not to hand over his vision to a bureaucratic body.
Also read: From failure to failure today he is one of the richest men in the world.
Of course, the bad society dissolved. But, undeterred, Ma went on to a government post, where she serendipitously connected with Jerry Yang, founder of Yahoo. The result was a billion-dollar investment in Alibaba in 2005. Not bad for a flop.
5. Your vision of the future is the key to always moving forward.
Entrepreneurship is a long game. Success doesn’t come from simply implementing a wonderful idea today and waiting for bags of money to fall from the sky.
It means planting the seeds that will bear fruit for years to come.
As Ma says of Alibaba’s tremendous legacy, “We succeeded today not because we did a great job today, but because we had a great dream 15 years ago.”
Maintaining a marathon runner’s mindset, rather than a sprinter’s vision, will help you have creative reserves of energy and new ideas to constantly tap into.
Inertia is the enemy, just keep moving forward, because all ideas eventually lead to good ideas.
Entrepreneurial intelligence is part wisdom, vision, and a great willingness to fall and get back up.
Also read: 6 tips that Jack Ma used to make Alibaba a success.
Jack Ma became one of the richest men in Asia, from humble beginnings earning $20 a month as an English teacher. However, the fight brings rewards. Jack Ma says: “As entrepreneurs, it is very difficult today. Tomorrow is even more difficult. But the day after tomorrow is very beautiful”.
And remember that if you are really interested in creating your own business, you can purchase our book “How to create a company while working: Discover how to manage your time, manage your money and motivate yourself while creating a company and working for another” , where you will find all the information you need to found your own company, without having to leave your job.
