Jack Ma has an inspirational journey for all the young entrepreneurs and anyone aiming to be the next billionaire. He is an entrepreneur, investor, and philanthropist. Born in not so well-to-do family, Jack not only made a mark but also made money. From being a lecturer in English to one of the wealthiest men in China, he made history.
Jack Ma started the multinational technology conglomerate, Alibaba in the year 1999.
In September 2018, he announced that he would retire from Alibaba and pursue educational work, philanthropy, and environmental causes.
Jack Ma is a global ambassador for Chinese business. He was listed as one of the world’s most powerful people. Forbes ranked him 1st on its “World’s Most Powerful People” list in the year 2019.
In 2019, Forbes named jack Ma in its list of “Asia’s 2019 Heroes of Philanthropy” and awarded him the Malcolm S. Forbes Lifetime Achievement Award for his work supporting underprivileged communities in China, Africa, Australia, and the Middle East.
His contribution in fighting back against the COVID-19 pandemic in July 2020 was appreciated by a first-class medal from King Abdullah II.
As of January 2021, with a net worth of $58.3 billion, Ma is the third-wealthiest person in China. His achievement and works are acknowledged and honored worldwide.
Let’s find out what lessons we can learn from Jack Ma’s life and experiences. Also, hope these lessons by Jack Ma encourage you to start your own entrepreneur journey soon.
Lesson 1: Never give up.
Whatever we do, failure will be apart of it. Success will demand hard work, patience, and sometimes a few failures too. One who never fails will never learn. We fail only when we stop trying.
Today is hard, tomorrow will be worse, but the day after tomorrow will be sunshine. So, never giving up attitude will sail you through all your failures.
Lesson 2: Learn from the mistakes of other people.
Instead of learning from other people’s success, learn from their mistakes. Most of the people who fail share common reasons to fail, whereas success can be attributed to various different kinds of reasons.
If you know the reasons why someone failed, you will make sure that you do not repeat the same mistakes. Treat failures and mistakes as the lesson of life.
Lesson 3: Help young people.
Help small guys. Because small guys will be big. Young people will have the seeds you bury in their minds, and when they grow up, they will change the world. You grow when you support each other. So remember to help young businesses.
Lesson 4: You should learn from your competitor, but never copy.
Copy and you die. We should focus on innovations. Find new and unique ways to solve problems and help society benefit from them. Coping ideas simply don’t justify a company’s innovations and effectiveness.
Lesson 5: You’ve to make consumers smart.
For instance, he said Let your consumer know that an e-commerce portal doesn’t sell a product at cheaper rates, instead, an offline shop sells it at a costlier price. SO, educate your customers by creating awareness. Let them informed about the changing business environment.
Lesson 6: Forget about your competitors, just focus on your customers.
When you focus on your customers, you know what they want from you. Knowing your customers gives you ample opportunities to make them happy. Happy customers are enough to bring more innovation and growth to the company.
Lesson 7: Keep Your Dreams Alive.
You should always have the dream you saw on the first day. It’ll keep you motivated and rescue you from any weak thoughts. Dreams are like visions. Keep your dreams close to your heart and keep changing them. It acts as fuel. The fuel that keeps you motivated and directs you to achieve it.
I have also listed the best books written on Jack Ma that records many of his life events and experiences. These books will help you know him more closely and learn the lessons shared by him.
Lesson 8: Be Focused
If you are a wolf chasing rabbits, focus on one rabbit. Change yourself to catch the rabbit, but don’t change rabbits.
Jack Ma said you need to know what you actually what to do. Focus on one thing and do it wisely. If you focus on all, you may not be able to give your best.
As an entrepreneur, you have a lot of things to take care of. You can’t be all rounded. Do your research and work wisely. You need to breakdown your work and do it step by step. One at a time, and be more focused.
Lesson 9: Find Opportunities
Jack ma said “The opportunities that everyone cannot see are the real opportunities”
Opportunities are always there. You probably need to have the right ability to find it. Any adversity or problem gives you a way to be more creative and resourceful to solve it. You will find the right people to make it work. You need to recognize the opportunity and work for it.
Any customer complaints, an unhappy consumer, criticism, product failure, market trend, competition, etc, can bring you ample amount of opportunities to develop and be better than before. It will help you to rebuild and be more resourceful.
Lesson 10: Enjoy Life
Life is so short, so beautiful. Make time for people you love and care for them. Spend quality time with friends and family. It is the basic necessity of life. It makes you happier and fills contentment within you. Don’t be so serious about work. Live life completely.
If your goal for your entire life is to work, then you will regret it. Have a better life and help people around to build themselves. In the end, what matters is how happy you are. We need to grow into a happy person.
Read: Alibaba: The House that Jack Ma Built.
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