JACK MA- CHINESE BUSINESS MAGNATE

We all human in their life need daily thoughts and inspirations which let us be in right pace to get what is achievable and can motivate. From childhood we grow up listening about real life heroes who always came to rescue people in trouble and motivate us throughout that phase of life.
Today we will talk about the real life story of a man who put the entire economy and internet industry of china to the apex level single handedly, This story is all about JACK MA.

 WHO IS JACK MA?

Jack Ma is the founder of E-commerce Giant ALIBABA and is a stakeholder at Alipay, it’s sister company which is an e-payment portal. He is currently Richest man of china and estimated net worth of $25 billion, on the back of the recent world record $150 Billion IPO filing of his company. Given all of this, Jack Ma only holds a 7.8% stake in Alibaba and a 50% stake in Alipay. Alibaba and Jack Ma, although are not household names out of China, you must know that Alibaba is worth more than Facebook, and processes goods more than eBay and Amazon combined!

Apparently it seems like the story of arrogant businessman and rich billionaire who never saw the dark but don't just go the number mentioned above this might can fool you. Jack Ma life is true example of Rags-to-rich story and one can get inspire in his darkest days.

JACK MA-INSIGHT STORY

Ma Yun a.k.a. Jack Ma is one of those self made billionaire with soft beginning.

Jack Ma was born in Hungzhou located in the south-eastern part of China. He was born and raised along with an elder brother and a younger sister during the rise of communist China and its isolation from the Western regions. His parents were traditional Musicians-Storytellers and they didn’t make enough to be even considered as middle class during those days.

Former US president Richard Nixon’s visit to Hangzhou in 1972 improved the situation of tourism in his home-town and Jack wanted to make the most of this opportunity. Jack always wanted to learn English as a kid and he spent his early mornings riding on his bike to a nearby park, giving English tours to foreigners for free. It was then he met a foreign girl who gave him the nickname ‘Jack’ for his name was hard to spell for her. Jack, after graduating with a Bachelor’s degree in English, worked as an English teacher at Hangzhou Dianzi University with a pay of $12 a month! Now here comes the part where it gets more interesting, even before he has received that degree and became an English teacher.

REJECTED BUT NOT FAILURE

Jack Ma undoubtedly is lucky chap who became Billionaire in a snap apparently the number hidden behind Jack Ma rejection is countless.In early life of Jack Ma in middle school he failed thrice, when applying to universities jack failed entrance thrice, before finally joining Hangzhou Normal University. He even applied for Harvard University ten times and each time he get rejected and this is only of Education.

During and after his Bachelor’s degree Jack tried and failed to get a job at a multitude of places. After spending three years to get into a University, Jack failed to land a job after applying to them 30 times! He recollects in his interview “When KFC came to China, 24 people went for the job.  Twenty-three people were accepted.  I was the only guy who wasn’t.” He also one of the 5 applicants to a job in Police force and was the only one getting rejected after being told, “No, you’re no good.”

Also, on his Entrepreneurial undertakings, Jack Ma went on to fail on two of his initial ventures. But that didn’t stop him in any way of dreaming bigger.      DOWN BUT NOT OUT OF BUSINESS

Rejuvenation of Jack Ma

In one of his interviews, when asked about his rejections, this is what he had to say, “Well, I think we have to get used to it.  We’re not that good.” Overcoming the pain of rejections and treating rejections as opportunities to learn and grow was what Jack Ma made of it.

After finally coming to terms with all of his rejections and failures, Jack Ma visited US in 1995, for a Government undertaking project related to the building of highways. It was then that Jack Ma was first introduced to the Internet and Computers. Computers were pretty rare in China then, given the high costs associated with them and Internet or E-mails were non-existent. The first word he searched on the Mosaic browser was ‘Beer’, and it popped out results from different countries, but signs of China anywhere. He then searched ‘China’ and not a single result popped out! He decided it was time for China and its people to get on the Internet.

Finally, after persuading 17 of his other friends to invest and join him in his new e-commerce startup – Alibaba, the company began from his apartment. Initially, Alibaba didn’t had a single penny in investment from outside investors, but they later raised $20 Million from SoftBank and another $5 Million from Goldman Sachs in 1999. Building trust among the people of China that an online system of payment and package transfers is safe was the biggest challenge Jack Ma and Alibaba faced, a challenge that Jack will cherish for his lifetime.

Having started his first successful company at the age of 31 and even after never having written a single line of code or selling something to anyone, Jack Ma runs one of the biggest E-commerce networks in the world. The company went on to grow rapidly, expanding all across the world, quickly growing out of its China shell. Only second to Walmart now in terms of sales per year, Alibaba has become the E-commerce giant that Jack Ma has envisioned for it.

This is the story of extreme positive and determined entrepreneur

Jack Ma.

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