7 Lessons Entrepreneurs Can Learn from Jack Ma of Alibaba

Jack ma
Photo via CNN Money

Jason Grills, Negosentro |  Being an extremely successful businessman with an inspiring life story, Jack Ma is a great role model for a large number of entrepreneurs all around the world. What makes his success even more impressive is his background.

To advance from a modest English teacher to a founder of one of the world’s most powerful e-businesses, Jack Ma had to overcome numerous obstacles.  According to Forbes, today, his business’ net worth is estimated at 39.5 billion dollars. And he’s one of the richest people in China with numerous awards.

However, before getting his career on the right track, he had to deal with poverty, not so great educational conditions, and numerous rejections. Not only was he rejected 10 times by Harvard but he also couldn’t get a job at KFC. Luckily, all these misfortunes led him to some dramatically bigger opportunities.

Not only did Jack Ma established Alibaba and got serious stakes in China entertainment industry, but also became a resource of valuable career and motivational advice for many entrepreneurs. His career helped many people take lessons to stay motivated in doing better amidst the competitive market. Let’s view some of the many lessons you can learn from Jack Ma that may change your life. So read on and find out how to level up your game!

Lesson #1: Evaluate Opportunities Thoroughly

When you think about a typical advice that people tend to give, you probably remember them saying that you should go for everything that comes your way. However, what makes Jack Ma extraordinary is probably his thoroughness in the analysis of circumstances.  The fact that he likes to emphasize is not all opportunities are meant to be taken by all businesses.

You have to learn what your priorities are. Focus on them rather than wander around looking forward to anything that crosses your path. Your ability of critical thinking and differentiating amazing opportunities from the average ones is what may determine the success of your business.

Lesson #2: Change Your Business Perspective

According to Jack Ma, as long as you chase profits and try to get rich by running any business, your chances of actually succeeding in something will be pretty slim. We live in an era where it’s crucial to run a business meaningfully. If you are willing to level up your business, you should not be thinking locally. You must take your customers seriously and do whatever it takes to answer their concerns in real-time. Embrace the power of automation and use handy tools such as live chat software or other customer support software like CRM to better accommodate their needs.

It rarely happens that businesses succeed in getting a serious reputation if they’re focused on a local level, says Jack Ma. And getting to the global level requires motivation that’s based on something greater than just money or any type of personal benefit.

Lesson #3: Nurture a Unique Skill Set

There are many entrepreneurs who are trying to make it big in the market. But not all of them have what it takes to get to the entrepreneurial top.

What Jack Ma considers utterly important in the process of becoming an entrepreneur is to capture public attention and offer a world-changing innovation. For this, it is important to create and develop a specific and not so usual skill set.

For instance, the first skill that has distinguished Jack from the crowd at a pretty young age was speaking English. This skill let him teach kids in his hometown. It also gave him the opportunity to contribute to the local community.  Plus, he gained the ability to approach leaders from the rest of the world and understand cultural, political, and social differences between China and other countries.

Lesson #5: Rejections Are There for a Reason

If we had to pick a single inspirational story that Jack Ma has shared and completely blown our minds, then it’s got to be about the numerous rejections he’s been through. Rejections can easily be taken as a negative action. But they turn out to be huge motivators if taken positively. The fact that Jack was rejected for various opportunities turned out to be a motivation for him.

Lesson #6: Surround Yourself With Brilliant People

This is the lesson that Jack himself learned while teaching. During his ongoing job, he realized that the greatest honor for him was stimulating his students to become more successful than he was. And this is the practice that he hasn’t changed so far.

Once, he stated that one should only hire a person that they can see as their boss in the years to come. The competitive yet friendly work atmosphere that develops among young intelligent people is stimulative and it definitely affects the business positively.

Evidently, the era of smart bosses with not-so-smart employees should be left behind, according to Jack Ma. The key to success is surrounding yourself with people smarter than you. Not only it helps you improve your skills further but is a great way to stay motivated into doing better.

Lesson #7: Wake up and do Something About Your Dream

If you find yourself constantly daydreaming about all the possible directions of your career, don’t just sit there. It doesn’t matter if you have someone’s support or not. If you feel passionate about something and imagine yourself working on it, you can definitely make it come true.

But in case you aren’t sure about your (potentially life-changing!) idea, try consulting someone who has a better grasp of the market. When Jack Ma tried explaining his online business idea for the first time, only one man in a room filled with experts told him that he should go for it. And he did. You obviously know where he is right now. On one hand, it’s true that nobody can guarantee that you’ll succeed if you decide to try – but on the other, nobody ever succeeded without trying.

What Can Entrepreneurs Learn from Jack Ma to Take Businesses to the Next Level?

According to Jack Ma, the most important thing in business is to know how to differentiate a good opportunity from an excellent one. In addition to this, updating your skill set will let you think globally. It’ll give you the knowledge necessary to focus on what you’re passionate about and how some elements are important to help you achieve real success.

On your road to success, Jack Ma advises using rejections to your advantage. By not forgetting your past experiences, you can learn from them and make better decisions for your business. Finally, surrounding yourself with people who are at least as passionate and motivated as you are is something that you should do. This is applicable not only when it comes to choosing employees and partners but also in all spheres of your life.

In the end, it’s obvious that the key lessons that Jack Ma offers are not only valuable in the business aspect. They also teach us some important life lessons and show entrepreneurs how to create something greater than profit – a better world.

Author Bio:

Jason is a technical writer currently associated with ProProfs Live Chat Software. He enjoys writing about emerging customer support products, trends in customer support industry and the financial impacts of using such tools. In his spare time, Jason likes traveling extensively to learn about new cultures and traditions.
Linked-in: https://www.linkedin.com/in/jashon-grills00/