Jack Ma is a rockstar. He founded one of the most successful companies on the planet, Alibaba. Jack has been able to connect with entrepreneurs and professionals all over the world.
He has rare charisma and flair that makes people smile. His storytelling abilities have influenced the world and made one of the most successful ecommerce empires of our times.
Jack Ma started his career as a school teacher. He failed at most things he tried, but went on to bigger things in life with every setback. He talks about his failures candidly and gives inspiration to young people.
People all over the world love Jack Ma, they are eager to follow his leadership qualities and find the secrets of his success. Jack Ma is an entertainer, he connects with people effortlessly and his vision for the future will have an impact.
As he retires from the chairmanship of Alibaba, we look at some of the great leadership wisdom from Jack Ma.
1. Unite People under a Single Goal
Ma started the ecommerce company 2 decades back in 1998. Back then people were getting used to internet. Jack Ma started building his dream with his friends and students.
He convinced employees, business partners, investors and worked hard to realise the dream of Alibaba. He united everyone with a common goal. He fought like a wartime commander even when there seemed little hope.
He has been able to successfully unite his company under a common goal. It is the goal and the vision that matters more than individuals.
2. Right People
As a start-up and young business, it is hard to get the most talented people. When Jack Ma started the company in his apartment, he didnt find the best people. Infact, he could only find people who couldnt find a job elsewhere. But they stuck with Alibaba and that made the difference.
Ma emphasises how important it is to get the right people who are not necessarily the best people. Talented people may not have the determination to slog long hours or work relentlessly to succeed in a start-up.
“You need the right people with you, not the best people.” Jack Ma
3. Thought Process
Jack Ma had clear goals for Alibaba. He started building an ecosystem that will facilitate and make other people successful. Alibaba built a platform that enabled other people to buy and sell on their platform. They built the complete platform before most people knew what ecommerce meant.
Jack Ma focused on making progress even when they didnt make money. He remembers that people thanking him for Alibaba was the early days incentive for building the platform.
“If you want to win in the 21st century, you have to empower others, making sure other people are better than you. Then you will be successful.” Jack Ma
4. Look for Opportunities
When people are complaining, you need to look for opportunities. This has been the mantra for Jack Ma. He says people resort to complaining and whining, it drains their energy. Instead you should look for opportunities where people complain. You should build solutions and solve problems. This is the essence of entrepreneurship, finding solutions to pain points of others.
Yahoo’s investment in Alibaba was the turning point. Yahoo invested US $1 billion & there was no looking back from then.
“Failure is the road you will travel to success. Just be sure to take the correct exit.” Jack Ma
5. Dealing with Rejections
Jack Ma shares this funny anecdote, “There’s an examination for young people to go to university. I failed it three times. I failed a lot. So I applied to 30 different jobs and got rejected. I went for a job with the police; they said, ‘You’re no good.’ I even went to KFC when it came to my city. Twenty-four people went for the job. I was the only one rejected.”
As a leader, you have to learn to deal with rejections. You need to move on and keep progressing. All things that don’t work out will eventually lead in the right direction, if you don’t give up.
6. Competition
Jack Ma believes competition is good and shapes you into a better version of yourself. He has immense respect for Amazon, ebay and Tencent etc. The competition is where you can learn from and improve yourself. He says, “You should learn from your competitor but never copy. Copy and you die.”
7. Have Fun
Jack Ma said “I always tell myself that we are born here not to work, but to enjoy life. We are here to make things better for one another, and not to work. If you are spending your whole life working, you will certainly regret it.”
He retired from his position with a rockshow performance that typically epitomises Jack Ma and his philosophy. He has worked hard and also had a good time building Alibaba. He goes back to teaching profession and his calling as he retires from Alibaba.
Jack Ma has been an inspiration to the next generation of entrepreneurs. His personality, positivity and ideas will continue to make the world a better place. His story is a remarkable feat of extraordinary accomplishments grounded in humility.
Take a bow Jack Ma.
