6 Keys to Success According to Jack Ma
At this moment, it's hard to find someone who hasn't heard of Jack Ma, the billionaire businessman and founder of the world's largest E-Commerce website, Alibaba. Isn't that right?
However, Jack's journey to success wasn't always smooth sailing. Today, Rabbit Finance wants to help you get to know this remarkable man better and unlock the keys to achieving success and wealth like he has.
Getting to Know Jack Ma, the Billionaire Businessman
Jack Ma, born Ma Yun on September 10, 1964, in Hangzhou, China, grew up in a modest family without much wealth. However, he had dreams and a determination to improve himself, particularly in English, which he loved. He even invested 40 minutes cycling to a hotel in the city to practice speaking with foreign guests every day without fail.
He faced disappointment when he failed the university entrance exam twice before finally gaining admission to Hangzhou Teacher's University. After graduating, he began his career as an English teacher, despite earning a meager salary of just 500 yuan a month.
The Beginning of His E-Commerce Journey
In 1995, while visiting a friend in Seattle, USA, Jack Ma experimented with the internet and searched for the word “beer”, only to find that there were no results from China. This sparked the idea for a billion-dollar business and led to the creation of “China Pages”, which was the first internet company in China.
However, China Pages did not achieve the expected success, prompting him to rethink his strategy. In 1999, Jack Ma and his friends founded the E-Commerce website “Alibaba” with an initial investment of 2 million yuan, aiming to become a global leader in E-Commerce, not just in China.
Today, Alibaba is immensely successful and has numerous subsidiaries, including Taobao, Tmall, Aliexpress, Alipay, Juhuasuan, 1688.com, eTao, and Alibaba Cloud Computing.
In 2014, Jack Ma took Alibaba public on the New York Stock Exchange, achieving the highest IPO in U.S. history, surpassing giants like Amazon and eBay, which made Jack Ma a household name as the “richest businessman in China” overnight.
As of 2018, Jack Ma and his family had a total net worth of $39 billion (approximately 1.23 trillion baht), making him the 20th richest person in the world and the second richest in China.
6 Key Principles for Success Like Jack Ma
Achieving success like Jack Ma may not be easy, but it's not impossible either. Let's explore his work philosophy that has brought him this far.
1. Look Ahead and Strive to Reach It
Jack Ma believes that a good leader must have foresight and always stay one step ahead of the competition. To succeed, one must continually develop creative thinking skills to cultivate the instincts of a good businessman.
Moreover, a good leader must know what they want and do everything possible to reach that goal. The key to success is to love and take pride in your work and not easily accept rejection.
2. Hire People Who Are More Skilled and Smarter Than You
The billionaire once said, “We should hire employees who have specialized skills that are better than our own because if they aren't skilled enough, it means we hired the wrong person.”
Skilled workers can help make our work goals a reality more easily, which is crucial for business success. Ensuring that everyone on the team shares the same vision of success and has common work goals is another way to achieve success for you and your company.
3. If You Give Up, You Fail
Giving up in the face of obstacles is the greatest failure of all. He believes that if you try your best, even if you don't reach your expected goal, you still gain new experiences, and that is a step toward success.
4. LQ is More Important in Overcoming Machines in the Digital Business
LQ stands for “The quotient of love”. In the world of online business, computers will always work faster and more efficiently than humans. However, what they lack is the heart and soul that people bring to their work.
Therefore, we should not train people to be better than machines, as we cannot surpass them. Instead, we should train people to be creative, as this will enable us to control machines and innovate new solutions for our world in the future.
5. Don't Work So Hard That You Forget to Live
Jack Ma once said, “I believe I was not born to work hard but to enjoy life more.”
He believes that life is meant to gather new experiences from around the world and to help others, rather than just working to earn money day by day. Thus, allocating time for rest or enjoying life is also a key to success.
6. Competitors Are Not “Enemies” but “Friends”
Another of his work philosophies is that he does not view competitors as business enemies but rather as friends from whom he can learn and share good things. They also challenge him to push beyond his limits to create something better.
This unique perspective is what has propelled Jack Ma to become one of the most successful and wealthiest businessmen in the world today. If you aspire to be like Jack Ma, don't forget to apply these insights in your journey.
Thank you for the information from rabbitfinance.com
