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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