Jack Ma is the founder of the E-commerce giant Alibaba and is a stakeholder at Alipay
its sister company which is an e-payment portal.
He is now officially the 2nd richest man in China with an estimated net worth of $34.3 Billion dollars
on the back of the recent world record $150 Billion IPO filing of his company
Given all of this, Jack Ma only holds a 7.8% stake in Alibaba and a 50% stake in Alipay
Alibaba and Jack Ma, although are not household names out of China
You must know that Alibaba is worth more than Facebook
, and guess what, they processes goods more than eBay and Amazon combined
Number 1, Your foresight.
In 1999, Alibaba's CEO told employees 2 things they needed to do to be successful
number 1, beat Americans and number 2, work longer hours
Alibaba needed to beat Americans, particularly in Silicon Valley
and learn their hard work ethic
Ma told his employees than an 8 AM — 5 PM day would not cut it.
At an early stage, Jack focused on imbibing trust in his consumers rather than trying to build the best revenue model
Many people chase after money, some of whom go on to become rich and succesful
successful but real successful people, in Jack's opinion, are those who have the vision to change the society for the greater good
He believes in creating something that has an impact on people's lives
because the relationship between the company and its customers is more valuable than any material wealth
In his opinion, money should always be a by-product and never the end goal.
Lesson Number 2, Don't make enemies.
One the most unique aspects of Jack Ma's business philosophy
is the idea of friendly competition
He thinks that those who compete aggressively with one another are the foolish ones
If you view everyone as your enemies,everyone around you will be your enemies
When you are competing with one another, don't bring hatred along. Hatred will take you down.
Competition is similar to playing a board of chess. If you lose, we can always have another round
Both players should never fight. A real businessman or entrepreneur has no enemies.
Once he understand this, the sky's the limit
Number 3, love your life
Well, this really fascinated me.You see our life is more important than any wealth or material things in the world that you can have.
Though businessmen are believed to be giving more of their time doing business than gaining enjoyments
Jack Ma on the other hand believes that people are born to enjoy life and not to work and consume their life with it
Aside from that, he also believes that we are born to make things much better for all of us
and spending all of our time working is something that we will regret in the end.
In reality Jack Ma is helping a lot of people out there to have a better life especially small business owners
Life is for experiencing the world and helping out other people. If money is your ultimate goal, you have to change your mindset.
Apart from that, He thinks giving up is the greatest failure
It is guaranteed that you will experience some ups and downs in life
but this does not mean that you will just have to give up when things don't work according to your plans
Failures and rejections have been synonymous with Jack since his early days
He failed thrice in his middle school exams and twice in his college entrance exam
before making it into Hangzhou Normal University in his third attempt where he received his Bachelor's degree in English
He applied for 30 jobs during and after his bachelor's and faced rejection in each one of them
. When KFC came to his city, out of 24 people who applied for the job, 23 got selected, and Jack was the only one who got rejected
Plus, when he tried in the police academy, out of 5 applicants, 4 got selected, and again he was the only one who didn't get through
He also applied to Harvard and got rejected ten times
Jack Ma, just like all the other great leaders out there; recognizes that the best lessons that a person can ever have is those lessons from hardships and obstacles
Persevering and learning from mistakes is one of the effective keys to success, a key that he actually applied to himself
Number 5, is being an authentic leader
Jack Ma believes a good leader is one who is good at leading people while the great ones are authentic
Ma encourages employees to do handstands in the office and welcomes his staff's candid opinions
He is relatable, credible and possesses a strong sense of character
This is very important for leaders because it fosters loyalty
and builds a strong foundation on which the company can grow
We don't have to sacrifice our sense of humor just because we are in charge
Lesson number 6 is to value attitude
When he talks about the biggest mistake that he has made in his life
Jack Ma describes 2hen he founded today's e-commerce giant Alibaba
Back then, he told his entire team that the highest level that one can possibly achieve would be that of the managers
and the executives should be hired right from outside
Throughout the years, he finally learned his lesson
lesson and he now emphasizes and stresses great importance to one's passion and attitude over his theoretical skills.
Apart from foresight and an informed intuition, a good leader should also be tenacious
as well as having a clear vision
Knowing exactly what the leader wants to achieve plus having the drive
and will to chase it down is very vital to leading your business to the path of long-time success
Plus, this will also inspire others to work hard for that goal
and to achieve success
One of the keys to Jack Ma's business philosophy is to take pride in your particular work
and never take no for an answer, especially when talking about ways to achieve success.
Number 8, hiring smarter people
When he was asked what separates a leader from an employee
Ma gone on record saying that an employee should have superior technical skills than the leader
If it's the other way around, it means you have hired the wrong person
Focusing on the skills of employees and hiring people with the know how to carry your vision attitude
is an important pillar of any great company.
Lesson number 9 is to unite people under a single goal
There will be a time that you will find it hard to convince an employee
a business partner or a potential investor to your business to believe or trust whatever you say
Though it can be a great pain in your pride, the best thing you can do is to just accept the fact and try to change your approach.
That is another key to have a massive success.
Jack ma believes that it is much better and more effective to unite people
under a common goal rather than to unite his company under the belief or vision of a single person
A company's vision is far more important than the business's leader.
Jack Ma has always hailed his customers and regarded them as the biggest asset of all time.
Ma runs an e-commerce business
but he attributes his success of not being a techie
Rather, he views products from his customer's perspectives, and that allows him to offer relatable intuitive products
His vision is to build an e-commerce ecosystem that allows consumers and sellers to do all aspects of business online.
Jack Ma is always concerned about his customers and that is what makes him stronger every year
For him, customers are always first, employees are second and investors are third.
If a company collapses the investors will be the first one to escape followed by th employees
But only the customers will support you by providing a medium and give your company a chance to rise again.
It's always about the customers.
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