Jack Ma is the brand name of China. He is an investor, entrepreneur and philanthropist at the same time. He is also the founder of the Alibaba Group which is a conglomerate. At first, Jack Ma thought that there were no jobs out there and that all the creative opportunities were taken by entrepreneurs like Mark Zuckerberg and Steve Jobs. But with the passage of time, he realized that there was still plenty to be explored in the entrepreneurial world. These achievements and many other factors have compelled us to collect Jack Ma’s advices and share it with our readers on this platform.
Others’ mistakes teach us
Successful are those according to Jack Ma who are able to minimize their chances of mistakes by learning from others’ mistakes. It is foolish to make the same mistake made by other innovators and not avoid it by learning from them. Jack Ma says he learned a great deal from the mistakes made by Marc Zuckerberg and Steve Jobs since he was monitoring their progress from time to time.
Quality should be the focus and not size
Jack Ma has always been a proponent of making quality products and providing quality services. He says that size does not matter if the quality of the service cannot be ensured. On the contrary, no matter if the service is small but when quality is good then it will click with the target market and ultimately the size of the business will also increase over the course of time.
Don’t be the best but be the first
In one of his famous interviews, Jack Ma advises the young minds to not strive to be the best but to be the first at what one does. Be the first to take initiative, be the first to take the challenge and be the first to overcome a difficulty. To lend credence to his point he cites the example of the Olympic champion, he says “There is only one Olympic Champion and I don’t think I can be lucky enough to be that so I have to try new things first and be the best at those.”
Preparing for the future
Jack Ma advises the young entrepreneurs to always plan ahead at least ten to fifteen years down the line. If you know what you want to achieve then every step you take will be towards that goal. However, if you do not prepare for the future then all your efforts would be random without any meaningful outcome. Such a tendency can be suicidal for any business enterprise.
Challenges are opportunities
Only those people succeed according to Jack Ma who sees opportunities in the challenges that they face. Jack Ma himself used to complain when he was young regarding the lack of opportunities and in one of his interviews, he says that at first, he thought all the big stuff and opportunities were taken by entrepreneurs like Steve Jobs and Bill Gates and that there was nothing left for him to do. However, Jack Ma’s perspective was shaped with the passage of time and he went on to found a conglomerate that has a worth of multi-billion dollars.
This is the golden rule of success according to Jack Ma. A person cannot be successful if he/she does not believe in his/her project. If this ingredient is missing from any project then the chances of success for business are minimized considerably because when you yourself do not believe in your own project then why would others consider it worth their time and money. So Believe!