Jack Ma, the founder of Alibaba and the richest man in China needs no introduction. He has taken the internet by storm in the last few years with his amazing interviews and speeches and Alibaba’s success.
Jack often talks about his life experiences, failures, and his determination to do something on the internet in the ’90s. He has shared how he has upscaled Alibaba to be one of the most amazing companies online and gives advice to young people about life and business.
In an interview in a college, while taking questions from the students, Jack gave the three best bits of advice he thinks could help young people do good business and win in a long run.
1- You should be always optimistic
A great entrepreneur should be optimistic about the future. According to Jack, only optimistic people create a better future so one should also be hopeful and dream big.
If you look at the success footprints of high achievers, you find out that they were dreamers and they were optimistic about the positive results.
No one believed in my dreams but I believed in myself, says Jack Ma
This was also confirmed by Masayoshi Son who was asked why did he invest so heavily in Alibaba. He replied Jack’s eyes were shiny and very optimistic.
2- Find the best team
Find people who believe in your dream and vision. That is one reason why Jack Ma hires people who are smarter than him. He also emphasizes the Importance of Dreams, Teaming up with the right people. According to Jack, the one single problem every startup makes is the lack of a proper team that is unable to turn your vision into a reality.
3- Ask yourself, what can you sacrifice in life
Jack says, ask yourself will I win in 3 years on 10 months?.
It is very important for new businesses to prepare for the longer term.
I believe nothing is short term. Don’t focus on things that are hot. Alibaba succeeded 18 years back because the internet was not so hot, the internet was cold. We thought we could help people and we succeeded. Be unique, use your mind and discover why you are different, why you are better and how you can survive and become successful in the next 10 years. Says Jack Ma.
He also says pampering and taking care of the customer is very important.
Don’t read a newspaper. Instead, read your customer’s mind and find out what do they want. Says Jack Ma