Success Story of Jack Ma | ShebiGuru

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Jack Ma, a former English teacher, cofounded Alibaba Group, which is one of the largest e-commerce companies in the world. 

Ma is the largest shareholder in Hong Kong and Shanghai. In September 2019, Jack Ma resigned as Alibaba's executive chairman. Yong Zhang, also known under Daniel Zhang, became CEO. 

SUCCESS STORY OF JACK MA  

 

Ma was a young boy who became interested in English language. He worked as a tour guide in Hangzhou during his teens. Ma failed twice the entrance exam to the Hangzhou Teachers College. His weak point was math. On the third attempt, he was accepted and graduated in 1988 with a bachelor's in English. He taught English at Hangzhou Institute of Electronics and Engineering, now Hangzhou Dianzi University, from 1988 to 1993. He founded the Haibo Translation Agency in 1994, providing English translation and interpretation.

In 1995, Ma travelled to the United States on behalf of the city of Hangzhou. He had his initial interaction and recognized the opportunity for a fresh venture. Ma established China Pages after arriving home. It was one of the first Internet companies in China and built websites for Chinese businesses. He quit the company two years later as a because of fierce rivalry from Hangzhou Telecom, a communications company that had established a competing business named Chinese Page. Ma oversaw an Internet business in Beijing that was backed by the Ministry of Foreign Trade and Economic Cooperation from 1998 to 1999.

However, Ma felt that if he did not leave the government, he would be missing out on the many economic opportunities that the Internet offered. Ma convinced his ministry team to accompany him back to Hangzhou and founded the Alibaba Group. This website allowed small businesses to make deals. Ma was convinced that the small-business-to-small-business Internet market had much greater potential for growth than the business-to-consumer Internet market had. To be recognized as trustworthy sellers by Alibaba, small businesses had to pay a fee. Businesses that wanted to sell to customers in other countries would have to pay a higher fee. ALIPAY was established in 2003 to help instill trust in online sales. Alibaba's growth was rapid. It attracted the attention American Internet portal Yahoo! in 2005. They bought a 40% stake. In 2007, Alibaba.com raised $1.7 Billion dollars in its initial public offering (IPO).

Ma founded a new company in 2003, Taobao, a consumer-to-consumer marketplace. (Chinese: "Searching for treasure") The market share of the American company eBay was 80 percent at the time. However, Ma felt that the policy of charging transaction fees by eBay-EachNet was a weakness. Taobao didn't charge such a fee, but it made money through online advertising and selling additional services to customers. Ma's intuitive was correct. By 2007, Taobao held a 67 per cent market share. In addition, eBay gave majority ownership to its Chinese operations, TOM Group, a Chinese-language media company, which also created TOM EachNet. Taobao Marketplace was established to allow individuals to buy and sell products. Taobao Mall is an online shopping portal. eTao is a shopping-related search engine. The IPO launched by the Alibaba Group on September 1, 2014. It raised $21.8 billion. The IPO was the largest in America and brought the company a market worth of $168billion, which was the highest in IPO history for an Internet company. Ma was to step down as Alibaba's chairman in September 2018, but he would still be on the board.

Ma was responsible for the creation (2014) and operation of the Ant Group. This group served as the parent company of Alipay, among other financial services. An IPO was planned for 2020. This was delayed after Chinese officials demanded that the company's restructure be done. An antitrust investigation was also opened against Alibaba. These developments occurred shortly after Ma had criticized the country’s financial regulators.

Lesson We Should Learn From Jack Ma

jackMa

It is something everyone longs for and many people spend their entire lives hoping to achieve it. While some people may never achieve success, others do. Many people become discouraged about their financial situation or professional advancement and give up on their dreams of success. Few people are willing to take on the challenges and find the opportunities. 

JACK MA The founder and CEO of Alibaba is one of the most successful men in the world. He has overcome many obstacles and achieved great success despite his failures. You need to learn the core values that Jack Ma used to achieve success in your professional management. 

Imagination and Belief 

Jack Ma believes that a leader must have foresight. One should be able stay ahead of others and anticipate the impact of their decisions on the future. For success, a person must be creative and have an intuitive sense of what is going to happen. 

Leading quality: 

Jack Ma believed it was impossible to convince all employees, business partners, and potential investors. This is another key to his huge success. People should not be divided by a common goal, but should work together to achieve it. 

Working alongside talented people: 

Jack Ma believes that the key to a company's success and growth is the hiring of employees. He believes that if someone is hired but does not possess superior technical skills, your vision will be impeded. If you don't have the right people to understand you, you can't work towards your visions. 

Attitude: 

Jack Ma emphasizes the importance of attitude. Jack Ma emphasizes the importance of attitude and passion, as they make it easier to achieve success. 

Never give up: 

Jack Ma says that the greatest failure in life is giving up. You can achieve success by trying your hardest and failing but persevering until the end. 

Focus: 

Jack Ma would say, "Keep your eyes on your business. He believes that if he takes a break from the main mission of his company, Alibaba can get in trouble. 

Passion 

Passion is the key to success. Your passion should be transferred to your marketing team. Encourage them and encourage them to think of yourself as a startup. Look long-term and consider the next generation. 

Friendly competition 

Jack Ma's unique business philosophy revolves around the ability to compete in a friendly atmosphere. Jack Ma considers his competition his friends, who give him the chance to learn from and grow from the difficulties they present. 

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