Page Header Banner
Page Header Banner
Photo Credit To www.businesstimes.com.sg

Jack Ma’s Philosophy for Alibaba’s Success

Post Header Banner
Post Header Banner

Jack Ma is a self-made millionaire who was once a local English teacher earning 12$ a month. He was rejected by many companies before starting his career as a teacher. Later on, he had a job as translator which gave him an opportunity to visit United States where he discovered Internet. The new discovery led him to start his first Internet business, the China Pages which later he lost it to China Telecom. In 1999, he started the online marketplace called Alibaba.com with his 17 friends and former students. The clear visions, goals, and commitments of the Alibaba’s team attracted $1 billion US dollars investment from Yahoo in 2005 with the exchange of 40% stake in the company. Today, Alibaba is the biggest B2B company in China and has served consumers almost around the world. With this successfulness, Jack Ma was interviewed by many medias and invited to give public speaking for experience sharing regarding his great achievement.

The below are some of his philosophy statements in leading the Alibaba:

Optimistic for the future: Never complaint, try to solve the problem of others. That’s opportunity for successful people! Before Alibaba, small Chinese businesses wanted to sell their products to overseas, but they don’t have opportunity. Jack believes that Internet would help them bringing their products to the world’s market. At that time, very few people trusts this vision; and he realised that it is a great opportunity for him. If everybody believe in the same idea, that will not be a good one for him and he will throw it away.

Teamwork: Make sure the team members believe in the same dream and stay focus; no matter, your friends, investors, and family members believe it or not!

Think by using your own brain: Whenever you have or have heard any new idea, always ask these questions: (1) Is that true? (2) Is there opportunity inside? (3) Is there anything i can make it differently? Then make a move!

Hire great people: Your employee should have superior technical skills than you. He focuses on skills which and people who, could carry out his vision as those are the important pillars of any great company.

Never give up: Giving up is the greatest failure.

Order of treatment: (1) Customer, (2) Employee, and (3) Investor.

Be creative: If what you need is not existed, create your own one. There was no online payment gateway available in China at the early stage of Alibaba, so Jack created Alipay to deal with the issue.

Trust Building: Alibaba gains consumer’s trust by guaranteeing the consumer’s money with Alipay. Money will be transferred to seller only when the consumer received and satisfied with the delivered product.

Alibaba stabilizes the government: If people have no job, the government would be in trouble. So, Jack Ma’s job is to create more jobs for people.

Do not make enemies: In love with them, but don’t marry them! The big issue in China for Alibaba is its government. Jack told his team strictly that never reject any help requested by the government, but refer it to someone else. And if the government want him to do it, he will do it for free; but please don’t come again. He accepted that he has to bow for Chinese authority.

Counterfeiting and fake goods: That’s the cancer of his business, Jack said. He has to control it and build trust. What he can do is to close the shop because he cannot put someone in jail.

Loyalty from his employees and family: He is very friendly and open-minded to his employees and their family. He has always given chances of happy life to his employee. They called it “Alibaba’s Family”.

Crocodile in the Yangtze: There is a documentary film about Alibaba titled, Crocodile in Yangtze. The movie covers all the important stages from the beginning to the current time of his company. He called Alibaba as the Crocodile in the Yangtze while he called eBay as the shark when eBay came to China. He said, if the shark get into the river, the crocodile will win; but if the crocodile get into the sea, then the shark will win.

Today is difficult, tomorrow is more difficult, but the day after tomorrow is a beautiful day!

Jack Ma is a strong visionary businessman who have foreseen what are the next moves in business revolutionary. He is a strict man with open-minded heart which enables him to learn something new and gain loyalty from his team and employees.

Comments

comments

Related posts