The Internet Startup Secrets of Jack Ma, Founder of Alibaba Group
- Author Ahmad Mokhzani Bin Mohd Nor
- Published February 11, 2021
- Word count 485
Jack Ma is one of the IPO in history as a founder and chairman of Alibaba group. Also, he’s now the richest man in China, worth an estimated $29.7 billion. This includes his 7.8% stake in Alibaba and a nearly 50% stake in payment processing service Alipay. Besides, grew up poor in communist China.
History made it known that he failed his entrance college exams twice and was rejected from dozen jobs, including KFC, before finding success with his third internet company, Alibaba. To him, he knew nothing about technology and even marketing. So, what does he know that made him successful?
Indeed, Ma, who originally planned to be a teacher, backed into the idea of running a tech company. The idea originated when he first encountered the internet in 1995 on his first trip to the United States. Surprisingly, he inspired himself and encouraged his employees, and that contributed to his success.
However, Ma started his first internet company in 1994. In early 1995, he went to the U.S on behalf of the municipal government with colleagues who had helped introduce him to the internet. Thereafter, he created a website with his friend, and the website was launched at exactly 9:40 Am.
In less than few hours of creating the website around 12:30 PM, he had received emails from some Chinese investors wishing to know more about him. This was the time Ma realized the internet has a great thing to offer in the modern world. From 1998 to 1999, he headed an I.C.T company in China.
Furthermore, Jack Ma quit the job and returned to Hangzhou with his team to found Alibaba, a China-based business-to-business marketplace site in his apartment. This process featured 18 friends as he started a new round of venture development with 500,000 Yuan. Sound interesting?
Internet Startup Secrets Of Jack Ma
While jack Ma started as an English teacher where he earned $12 monthly, there are lots to understand from his success story. Meanwhile, Harvard rejected him ten times, and he was turned down for jobs in several companies.
Without further ado, here are the leading strategies and secrets Ma put in place.
• He focused more on the people he was serving and didn’t give up on his tech company
• Ma spent most of his time thinking about the future with a saying; think differently is your power.
• Jack Ma spend more time on his customers, investors, and competitors
• The business morgue go motivated by pop culture
• Jack bombarded himself with ideas in his everyday life
• He created a firm brand name that differentiates him from other companies
Jack Ma, through his experience, shows how any entrepreneur can be successful. The startup secrets are the tips to improve your business knowledge and increase productivity during business meetings. Nonetheless, a cluster of ideas can muddle up the way ahead and blur your sight. So, never give up and instead, work on how tomorrow will be sunshine.
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