Jack Mas Rules Of Success

14 Mar, 17 The Honest Buck Default

Jack Ma, the Billionaire founder of Alibaba was once an English Schoolteacher in China who started Alibaba from him home with 16 friends and $60,000. It is now a company worth a whopping $212 Billion! Like the great entrepreneurs of our generation, he too has gained a cult status among his global followers to the tune of Bill Gates, Steve Jobs or Jeff Bezos. In a recently conducted interview, he talks about his fifteen-year journey from rags to riches and identifies his rules of success. We though we’d list them out for you!

1)Get used to rejection: After graduation, Ma applied to approximately 30 new jobs and got rejected from each and every one. He also applied to Harvard University around ten times, receiving a rejection letter every single time. In his own words, “And then I told myself that someday I should teach there may be.” And you know what? He did!

2)Jack also believes that technology is just a tool. The core component of any company is its culture. “We grew from 18 people to over 2,500 people. We focus a lot on making sure that, inside, everybody works towards helping each other, instead of just making money.”

3)“Ignore The #Littleman” is another of his mantras. “Most of the time people say, ‘Alipay is the stupidest idea we have ever heard.’ But I believe, whether stupid or clever, I will not stop as long as people use it.” Now, the platform has a user base of over 800 Mn people.

4) Finding inspiration as a key element of success. He regularly quotes movies from where he develops ideas and implements them.

5)Next, stay focussed. “I have said ‘No’ to a lot of business ideas, because as a CEO, I have to say No to a lot of opportunities. I probably get 5,000 opportunities everyday and we only yes to those who help us do our business easier.”

6) At Alibaba, it is believed that Customers are #1, Employee #2, Shareholder #3 and Chairperson #4.  “This is my religion. It’s the customer that pay us money and drives innovation.”

If you are a budding entrepreneur and have faced the heartbreak of shutdown or failure, fret not, because this here is a man who only got it right somewhere in his Forties after having faced immense rejected and heartbreak himself. To you, oh great thinkers, we say: ‘Keep on going, keep ‘em coming.’ 

Source: The Logical Indian, NDTV, dailymail.

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The Honest Buck is an effort to get everyone to focus on the equation between spending, saving and investing. How to dream - and achieve that dream.

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