Everyone has their favorite entrepreneur. Mine is definitely Jack Ma, founder and CEO of Alibaba group limited. Here are a few things you didn’t know about Jack Ma.
During his speech in South Korea, Jack Ma shocked people with a few crazy statements. One of the facts are his example to why he thinks people shouldn’t chase a dream because of money. He advises future entrepreneurs to do something out of passion and never lose sight of that. Jack Ma’s words were:
“During the first three years of Alibaba, we didn’t even make 1 US$ revenue from our business. What kept us motivated was the compliments our customers kept giving us. They were very appreciative and said we should keep doing what we do and it will become profitable.”
Jack Ma always wanted to attend school at Harvard. However, the young Asian was rejected 10 times. Today, he makes jokes about it and says that maybe someday, he’ll be there as a teacher. The young man tried to get a job but was rejected 30 times. Another rejection he faced was when KFC set its footsteps in China. 24 people applied for jobs, 23 we’re accepted. Guess who was the only person to be rejected. The same occurred when he tried to become a police officer. 5 people applied, 4 of them were hired. Jack Ma was rejected once again. He believes that rejections is a part of life and is meant to strengthen the desire to become successful.
After being rejected in his local area, Jack Ma applied at a university which was ranked third out of four universities of the local town. Because of his interest in the English language, he became an English teacher and earned 10$ monthly.
Competing With Silicon Valley
Ma, always had the desire to compete with the famous Silicon Valley. Blocking Ebay’s success in China was one of his smartest moves.
If eBay are the sharks in the ocean, we are the crocodiles in the Yangtze river. – Jack Ma
He continued saying:
“Since we were working on China Pages, I’ve always said our competitors are not domestic websites, but overseas websites. Our competitors are not in China, but in America’s Silicon Valley! We need to learn the hardworking spirit of Silicon Valley.”
Shareholders aren’t his priority. When he was asked, “What’s most important to you? Customers, shareholders or employees?” Jack answered, that the customers are the most important. They are the ones who bring the company money. Employers are second because they serve the customers and drive the innovation, while shareholders are last. This is because if the company isn’t moving well, shareholders are always the first ones to leave.