Although he may not have the looks of a Hollywood heartthrob, it doesn't matter, because at this moment, no one is unfamiliar with the Chinese man named "Ma Yun" or "Jack Ma".

Jack Ma is not just a successful business owner; he is also one of the legends who transformed the world of commerce. He is the founder of Alibaba Group, which has been dubbed the Chinese version of eBay. In 2014, Alibaba Group made history by achieving the highest IPO (Initial Public Offering) price in U.S. history, breaking the previous record held by the credit card "Visa", which had stood since 2008.

The success that aspiring entrepreneurs hear about with wide eyes did not come from luck or divine intervention, but rather from facing countless storms. Here are 6 business lessons that Jack Ma teaches to newcomers in the industry.

1. Face obstacles with courage In 2003, to counter the encroachment of U.S. e-commerce into the Chinese market, Jack Ma launched Taobao, an online marketplace, undeterred by the competition from EachNet, which was established by eBay. To capture market share and build a fan base for Taobao, Jack Ma allowed online sellers and customers to use the service for free, which set it apart from EachNet that charged fees to buyers and sellers.

2. Be prepared for change Jack Ma once impressively stated, "Whenever you see change creeping in, you must prepare from today. You need to fix the roof while the sun is still shining."

The rapidly changing old world driven by technology is not a problem for Jack Ma. While many fear that technology will become a new challenge, Jack Ma believes that technology will enhance the quality of life. To cope with unavoidable changes in the future, Alibaba has announced an investment of $15.4 billion in research and technology over the next three years.

3. Be bold in making decisions when necessary During the dot-com bubble economic crisis, Jack Ma had to announce layoffs in the company. Potter Erisman, a former vice chairman of Alibaba, once shared that this difficult time taught Jack Ma the difference between being an English teacher and a CEO. "Being a CEO doesn't just mean making tough decisions; sometimes you have to make sacrifices for the company to survive."

4. Smile and move forward even after being rejected thousands of times Don't let repeated rejections block your path to your dreams. Jack Ma is an example of someone who faced countless rejections but never gave up, often reminding himself, "It's a normal part of life; you have to live with it. Whenever you fall, just get back up."

Before transforming from a small ant into the giant Alibaba, he was rejected by over 30 small investors before meeting Masayoshi Son, the CEO of SoftBank Group, who helped Alibaba survive the crisis. Jack Ma once told CNBC that one of the qualities he gained from doing business is facing rejection and learning to get used to it, then moving forward.

5. Don't overlook the art of selling No matter what type of startup you are in, only top-notch sales skills will propel your business to the stars. Potter Erisman shared about Jack Ma's efforts during the early days of Alibaba, stating that he invested in traveling roadshows across China to negotiate with partners to highlight the business opportunities from moving online.

6. Build trust with partners through your persona Just as Apple has Steve Jobs as its logo, Alibaba Group has Jack Ma. Jack Ma used only his passion and vision to instill confidence in investors, securing partnerships with SoftBank as a crucial force driving the business.

Source: www.inc.com