Jack Ma’s Business Philosophy
It’s time to learn some new business philosophy!
You must have heard about Jack Ma… and today we are talking about Jack Ma’s Business Philosophy. Come on; he is the CEO of Alibaba. Yes! You read that right. He is the man behind that giant platform; he succeeded to put his name on the map with shiny letters with the triumph of Alibaba.
No doubt, this guy is fascinating!
His path to stardom began back in 1996, with his visit to the United States for the first time. He went there on a mission to retrieve cash for a Chinese company, but he ended up being exposed to the internet, and the rest is history. His first search for “beer” yielded no results for Chinese brands, which disappointed him.
From then and there, he made the decision of doing something about it. Remember, only motivation can take you to new heights… that’s for real.
You must be thinking it’s nothing new because it is always the same for rich people. They struggle in their past and overcome hurdles like heroes while becoming the most successful in the business world. So why Jack Ma???
Because, he is the legend…
It may sound very easy to you, but my friend this takes a lot of courage to come up with a new idea and make it successful. Just imagine, you have a million-dollar idea, but you do not have anyone by your side to bring it to life… think; how stressful it could be?
Luckily, you do not have to stress over it… we have gathered the 8 best business philosophy to help you achieve your dreams.
Read them now and rule the business sector.
8 Business Philosophy To Help You Build An Empire…
Besides Trump, Richard Branson, and Steve Jobs, Jack has a very different business philosophy when it comes to company’s growth and success. It is necessary for every other entrepreneur to learn from the fascinating entrepreneurial ship journey of Jack Ma.
1. Accept Rejection
Did you know that Jack failed the college entrance examination twice???
Not only this, he applied for jobs after his graduation and got rejected 30 times. After that, He was one of 24 people who applied for a job at KFC, and 23 of them were hired. During the 2016 World Economic Forum, he revealed that he had applied to Harvard ten times and had been rejected each time.
Can you imagine how rejection feels? Of course not. Only the wearer knows where the shoe pinches…You must be wondering why were are shedding on his life? Buddy, it is just about learning lessons from others’ failures.
Try… Try more… Try harder
2. Never Stop Learning
Undoubtedly, learning helps in climbing the ladder of success…
You will never fail if you will keep on learning business philosophy. If we talk about Jack Ma, he used to practice his English by conversing with foreigners in a neighboring café. Later, he applied the same method to obtain employment at a local university.
So, if you want to take your company model to the next level, you should try to learn new concepts, take short-term courses regularly, and keep yourself updated to lead your team better and stay up with the rising competition.
3. Soar With Eagles
After the failure, Jack Ma surrounded himself with the best and the smartest executives he could find. Obviously, you cannot be an expert at everything – He never believed that as a founder, he had earned the right to micromanage every part of his company because he was an expert at everything.
Ma was open to bringing in foreign executives to promote his goal of integrating East and West at a time when this was unusual.
Entrepreneurs must relinquish power to others and focus on their business,
Rather than their ego…
4. Take Full Responsibility for Your Actions
Take complete responsibility for your business, and do not blame others for your mistakes. It is another wonderful business philosophy Jack always shares with the future generation that aspires to be entrepreneurs.
Always keep an eye on yourself, no matter what happens. What can you do to improve the situation and make it better? Always ask yourself these questions and conduct a self-examination.
Complaining and blaming is never effective. In a million years, no way. So, rather than throwing the ball to others, take a look at yourself and make changes.
5. Customer Comes First, Employees Second and Shareholder Third
One of the most notable differences between Jack Ma’s management style and that of the majority of UK corporations is that, for Jack, the customer always comes first, the employees second, and the shareholders third.
The majority of firms in the United Kingdom prioritise the interests of their shareholders above anything else. Because shareholders are the ones who come up with the fund, the founder and the individuals who operate the business must focus on their interests.
According to Jack, as long as you take care of your customers and treat your employees well, the shareholders’ interests will take care of themselves.
There is no right or wrong here, and you are not obligated to follow it.
It’s merely a suggestion…
6. Be Extremely Persistent
Yes, you got it right…
You must be tremendously dedicated to your work. And it is the most beneficial business philosophy. When Jack founded Alibaba, he invited 24 investors into his home to participate in a joint venture. In the end, 23 of them turned him down, with only one agreeing to let him try out.
Jack never gave up! Instead, he stuck with it and founded Alibaba. He went to Silicon Valley to raise funding for his e-commerce startup at one point. If Jack would have given up on his last deal, there would not have been any Alibaba. Most importantly, he would never have gotten his company listed.
7. Keep Your Dream Alive
Jack revealed the hidden code to Alibaba’s success at a conference. He was able to enter a secret cave with the code “Open Sesame,” just like the fictional character Ali Baba. Similarly, the secret code of Alibaba’s employees is ‘Keep your dream alive.’ They held this thought in their heads and hearts, believing that it might come true one day. That is precisely what happened.
8. Have Passion
Well, this is extremely important…
Jack, in his original sales pitch, while starting Alibaba, explained that they’re competing globally, not only against Chinese websites… have you known it right? And you must be using the website as well.
He insisted his coworkers to adopt a startup mindset rather than the traditional 8-to-5 work ethic. When it comes to information technology and software, he believes they are on par with the Americans. He also promised them that, despite the internet being a bubble, the internet’s dream would not burst. However, they will have to pay for the dream for the following 3 to 5 years. He informed them that the goal was to go public and that they should stay focused on that.
Wrapping It Up!
With a humble beginning, Jack Ma has become an influential person – obviously, with his hard work and success. His tenacity in the face of rejection, hard effort, and strong cultural convictions have propelled him to new heights. Essentially, he saw the possibilities and has faith in himself and his team. He began with the end in mind, maintained the dream, and remained true to his vision.
And that’s the heck. The business philosophy mentioned above will give your business the wings to fly. If you believe you can succeed on your own, you’re mistaken! You need guidance…
Because, sky’s the limit…
Do you think you will prosper without a business plan? Stop right here! You’re on the wrong track. Get in touch with Bizplanss to get to know the importance of this simple document.