business ideas - how to start a business by Jack Ma ( one of the richest person in the World )

Summary

Jack Ma reflects on his entrepreneurial journey, recalling how he started Alibaba in 1994 when no one believed the internet would be impactful. He emphasizes being optimistic, ready to learn, and never giving up as keys to success. Ma notes that opportunities come from solving people's complaints, and successful people like Bill Gates focus on helping others. He encourages young people to pursue their dreams with passion, and highlights how Alibaba invests in youth to enable creativity and problem-solving.

Takeaways

• 😊 He was optimistic about the internet in 1994 when most people disagreed
• 👥 He believes in finding opportunities where people complain
• 🎓 He doesn't care about formal education, he cares about passion and readiness to learn
• ⛑️ He worked for himself but chose to work for society and help others be successful
• 😤 He was frustrated in 1994 that successful people like Bill Gates took all the jobs
• 🤝 He knows famous successful people like Bill Gates and Warren Buffett personally
• 💼 He started Alibaba to help small businesses do global trade
• 💡 He encourages young people in his company to find creative solutions
• ⌛️ Successful people he knows never complain, they try to solve problems
• 🎯 He believes in working hard, either for others or for yourself

Q & A

What year did Jack Ma first propose the idea of the internet and how did people respond?

In 1994, Jack Ma proposed the idea of doing something with the internet. 23 people were against it, thinking it was a stupid idea since they had never heard of the internet and Jack Ma had little computer experience.

What motivated Jack Ma to pursue the internet business idea even though he lacked experience?

Jack Ma wanted to find a job but could not find a good one, so he decided to start his own internet business.

What does Jack Ma think is more important than a person's educational qualifications?

Jack Ma believes a person's passion, willingness to learn, and ability to prove in the real world what they have learned is more important than their degrees.

What is Jack Ma's advice for finding opportunities?

Jack Ma believes opportunities lie in places where people complain. If you can solve people's complaints, then there are opportunities.

What problem did Jack Ma identify and solve with Alibaba?

Many small businesses in China wanted to sell goods abroad but struggled with trade shows, visas, money and relationships. Jack Ma created Alibaba as an online platform to help small businesses with international trade.

What does Jack Ma prioritize when looking for young talent?

Jack Ma looks for passion, eagerness to learn, and persistence in young talent rather than focusing on their academic qualifications.

Why does Jack Ma advise working for yourself?

Jack Ma believes that if you work for yourself but focus on helping others and society, then you will find success and happiness.

What common trait does Jack Ma observe in successful people like Bill Gates?

Jack Ma notes that very successful people like Bill Gates are always optimistic for the future and focus on solving problems for others rather than complaining.

How does Alibaba invest in young people?

Alibaba puts 0.3% of its total revenue towards initiatives that encourage and enable young people to find creative solutions to problems.

What is Jack Ma's advice for achieving success?

Jack Ma advises that you must believe in your dreams even when others don't, and work tirelessly with your team to make them a reality.