Alibaba CEO & Billionaire Jack Ma’s thoughts on Business

I admire rich and successful people…

So when I get an email from a self made billionaire I pay attention. I want to share his observations because all evidence points to one fact. The only difference between us and people like Jack is our attitude about life and how we spend our 24 hours.

One of the newest developments in e-commerce is crowdfunding. Once the domain of startups and new inventions, now “growth stage” companies that have resources are using crowdfunding to strengthen what may already be a strong financial base with more money and raising larger amounts of money than ever before.

Crowdfunding has also turned out to be the best way to test the market value of a new product or service with “other peoples money.”  Crowdfunding is not a loan, success is totally dependent upon the strength of your sales story and the perceived value of your offer.

Now for Jack’s perspective….

Jack Ma“Is it getting harder and harder to do business now? 

Recently Alibaba CEO JACK MA shared his thoughts about this common TOPIC in 2015.

Here I translate and share with you:

Actually, it has never been easy to do business! Entrepreneurs have to put in relentless effort to succeed:

They spend day and night worrying about this and that.
They sacrifice time with their friends and families.
Their effort might simply be fruitless.
When people say it is easy to do business, they are just bragging.
You have to take all kinds of risks at all times.
It requires wholehearted devotion both physically and mentally.
To be rich overnight only exists in TV dramas.
You need to devote time and effort in order to establish a successful business.
Spending time and energy doesn’t guarantee success, but you can never succeed otherwise.

The first element of this kind of success is to have wholehearted devotion.

You must be passionate about what you are doing. Because when you have a heart for your own products and services, and you receive positive feedback from your customers, you will be grateful, and you will communicate with them with passion and patience. I believe people who often feel gratitude towards others are better prepared to succeed. It doesn’t matter if you fail at first, what really matters is the people who are interested in your products and services.

The second element for success is to put your brain to work.

Once you have decided what to do, you need to consider carefully how to do it. It is vital for small enterprises to find their own unique qualities—to be different and to have fun while developing your business, in order to create connections with your customers. Doing business is not simply about buying and selling, it is about creating and exploring the same set of values shared with your customers. Finding a customer who likes your prNeverGiveUpoducts is as valuable as finding a soul mate. Aren’t you grateful and excited to have found a soul mate?

The third element is to devote time, energy and physical strength to your business.

Most exemplary entrepreneurs find ways to improve their products and services wherever and whenever they are. They grab every opportunity and every minute to listen to their customers and their employees. They learn from their mistakes. They find hope when they are desperate and they find opportunities in their worries. Over the years, many said Taobao was simply lucky and it is true that there were elements of luck in its success. However, we are where we are today because we woke up early, we got off late and we did not sleep like a log, and we had much shorter holidays. We struggled day and night and picked ourselves up from disappointments and frustration.

The era of e-commerce has just begun. In the next three decades, it will take off. 

In the future you might not be selling real goods, but you will be using your creativity and originality, your hopes and dreams, to find not your customers but your soul mates. What you need to learn is not how to do business, but how to find the new way of life. You are not managing a business, you are becoming your better self.

The world is vast and e-commerce still has another 30 years. Let’s try it out. What if you manage to find your soul mates? It is OK if we aren’t loaded with cash. We just need to find friends who recognize us”

Thanks for those words of wisdom Jack…

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