I've read more than ten biographies of billionaires, including Dhirubhai Ambani, Steve Jobs, and Jeff Bezos. when contrasting these individuals with Jack Ma. He is not a smart one among these peoples and occasionally acts like an idiot. But even so, he is the only person who inspires me a lot.
You will undoubtedly learn some things about Jack Ma on this blog that you didn't know. Before I explain why he is my inspiration, I kindly ask that you guys to watch the following YouTube video and read the comments that have been left there.
A discussion between Jack Ma and Elon Musk is shown in this video.
https://www.youtube.com/live/f3lUEnMaiAU?feature=share
I'm sure you laugh a little while reading the comments.
In the early days of Alibaba, Jack personally advised some workers to take a quick break and return, once Alibaba's financial issues were resolved. Because he can't afford to pay the employee's salaries in his early years. Alibaba sorely required a financial flow. At that time, he wanted to boost Alibaba production and establishment in the United States. Since the only location that manages both the China and US business is the China office. He thought opening an office in the US would enable him to grow Alibaba's company bigger. Additionally, he thought employees in China and the United States will cooperate with one another to find effective ways for Alibaba to expand. And he had faith that it would succeed, therefore he took that decision based on his instincts in light of the financial instability situation.
However, it failed because the staff in China and the United States were unable to cooperate with one another because of time zone differences. Before opening the office, he neglected to take into account the issue of two different time zones. As a result, the US office was soon shuttered. That's a big blow to him.
Using Jack Ma's naivety, SoftBank & Yahoo earlier acquired a significant portion in Alibaba. Towards the halfway of his business life. Jack understood he made a blunder, it was a mistake to give a SoftBank and Yahoo such a large portion of the Alibaba stock for their money they invested.
You can see from the aforementioned examples how Jack Ma made numerous errors in his early years of life. But how did he grow to be that tall and how did he make that much money in his lifetime?
Before that, we'll take a brief diversion to talk about my favorite anime series, Naruto.
Naruto is generally a very simple minded, easy going, cheerful person. Naruto dreams of becoming a "Hokage - highest ninja level" himself with the hope that it will bring him the villager's recognition and respect. He consistently makes a lot of blunders and lacks natural talent.
But he doesn't hold back when it comes to working hard to get better. He constantly maintains an optimistic outlook despite the challenges. I believe Jack Ma and Naruto have characteristics in common that have aided them in achieving better outcomes in their lives.
In the early days of China, there were many Internet businesses that flourished there, and most of the entrepreneurs who studied at top universities—and some entrepreneurs who had degrees from American universities—got a lot of funding from investors. Jack Ma, however, is an exception to this rule because he did not attend a prominent university and did not earn a fancy degree from the United States. In fact, I'll tell you something—between 60 and 70 percent of unicorn startups in India include at least one founder who graduated from an IIM or IIT. Due to the prevalent belief among investors that founders with IIT or IIM backgrounds have a stronger likelihood of making their startups successful than those without such backgrounds. The Chinese and Indian investors have the same mentality. In light of his current financial predicament, Jack Ma must contend not only with Ebay but also with the other Chinese internet giants. When the stock market plummeted at that time, it severely hurt China and other nations as well. However, not for Jack Ma.
When the internet bubble burst, investors stopped making investments in the internet businesses. And when Jack Ma learned of this, he smiled rather than became concerned. He also predicted that other businesses would take a brief hiatus from operating. Because investors will no longer give fledgling companies money. Now that the playing field is level, it's our chance to demonstrate who we really are.
I truly admired how he handled the challenging circumstances in his life.
Then he created a lot of things, which gave him a significant competitive advantage over other internet businesses. While Ebay's website's user interface for Chinese customers reflected his American attitude. Jack Ma displays his website's standard niche market user interface to Chinese customers. While Ebay used really fancy marketing techniques. Alibaba practices traditional old school marketing techniques. As a result, Ebay finally stopped operating from China.
Not only did Jack Ma outsmart other online companies like Ebay. He also dispelled the misconception that only those with degrees from top universities and holders of US degrees could successfully run a business.
He also founded Alipay, but because of his negative past experiences, he decided not to give Softbank and Yahoo any shares this time. Without alerting Yahoo and Softbank shareholders, he transferred ownership of Alipay from the group to a company he owned. However, this caused a problem with Yahoo, and after legal action. Alibaba resolved the Alipay dispute with Yahoo.
When I read the biographies of well-known entrepreneurs. They appear to have inherent talent from an early age. Compared to a typical child like us, they typically excel even in their early years. While reading those books, I get to assume that, in order to succeed like them, we must have a natural gift from birth.
However, as I read "Alibaba: The House That Jack Ma Built,"
I found Jack Ma to be more relatable to us. Because he is not a genius or particularly intelligent. Although he lacks talent in his childhood and doesn't act like the smartest person in the room. But he believes in hard work, dedication, commitment to a cause, and a never-give-up mentality. And most significantly, he shows concern for his workers. This book taught me a valuable lesson. We only need to have faith in ourselves. We can achieve more in life through hard effort, dedication, and commitment to our passions without having to be a genius.
And now the Jack Ma's remarks over the Chinese government in a Alipay issue, the Chinese government has threatened him.
Is the communist party in China is imposing a dictatorship on its citizens? Is communism actually necessary in the modern world.
This will be covered in a future blog post. If you enjoy this article, please think about subscribing to this blog.
And don't forget to include your favorite subject in the comment box as well. I'll attempt to create a blog using your topics.
Comments
Post a Comment