Turn your mistakes into opportunities - #Jackma

Summary

In this inspiring talk, the speaker reflects on the importance of learning from mistakes and rejections, which he views as foundational to Alibaba's success. He emphasizes the power of the internet in empowering the youth, small businesses, and women, and the necessity of having a dream and a vision for the future. The speaker shares anecdotes from Alibaba's early days, highlighting the company's growth from a small startup to a global giant. He also discusses the potential of e-commerce and the internet to transform businesses, stressing the need for companies to think globally and leverage technology for success.

Takeaways

• 🙏 Gratitude for Failures: The speaker expresses gratitude for the mistakes and failures that led to the creation of Alibaba, emphasizing that these experiences were foundational to its success.
• 🤝 Rejection as a Norm: The speaker considers rejection and refusal as natural occurrences, suggesting that one must prove themselves to gain support.
• 🏡 Alibaba's Humble Beginnings: Alibaba was born in the speaker's apartment with a vision to empower others through the internet, particularly young people, small businesses, and women.
• 💪 Persistence Through Hard Work: The speaker highlights 18 years of hard work and perseverance as the reason for Alibaba's success.
• 📚 Learning from Mistakes: Encourages learning from mistakes rather than only studying success stories, as failures provide valuable lessons and shape attitudes towards setbacks.
• 🚫 No Complaints: As an entrepreneur, the speaker advises against complaining, stating that opportunities arise when others complain, and solving these complaints is the path to success.
• 🛒 Building Trust Through Initial Challenges: Alibaba initially faced challenges in attracting customers and had to build trust by purchasing items themselves to demonstrate the platform's viability.
• 🌟 Scaling Up: The company grew from 18 employees to 50,000, and from no users to over 500 million, showcasing the power of learning from experience and scaling up.
• 🌐 Global E-commerce Potential: The speaker predicts a significant increase in online shopping and the importance of e-commerce, emphasizing that it is just the beginning and that Alibaba aims to be a major player in this space.
• 🌟 Vision Over Revenue: Differentiates between big and small companies based on dreams and vision, not revenue, and stresses the importance of having a future-oriented mindset.
• 🌱 Cultivating Future Entrepreneurs: Believes in nurturing young entrepreneurs as they are the future, and in the power of belief to shape the future of businesses and the economy.

Q & A

What does the speaker feel most thankful for in their entrepreneurial journey?

The speaker feels most thankful for the mistakes and failures they made, as they believe these experiences led to the creation of Alibaba.

Why does the speaker believe that being rejected is natural?

The speaker believes that being rejected is natural because people should not be expected to help you without you first proving yourself.

What was the initial belief that led to the creation of Alibaba?

The initial belief was that using the internet to empower others, especially young people, small businesses, and women, would lead to a bright future.

How does the speaker encourage young entrepreneurs to learn from others' experiences?

The speaker encourages young entrepreneurs to learn from mistakes and failure cases rather than just studying successful stories.

What is the speaker's view on the importance of having a dream for small businesses?

The speaker views the dream as the differentiator between big and small companies, emphasizing that big companies often lose their dreams once they reach a certain size and focus only on KPIs.

How did the speaker describe the early days of Alibaba's marketplace?

In the early days, Alibaba's marketplace was struggling, with no one coming to sell or buy, leading the founder and his team to buy items themselves to build trust.

What is the speaker's prediction for the future of online shopping?

The speaker predicts that in the next 10 to 20 years, 60% of people will shop online, and e-commerce is just the beginning.

Why does the speaker believe that small businesses must be globalized?

The speaker believes that small businesses must be globalized to survive easily in the future, as not being globalized will limit their opportunities.

What is the significance of the 'Tmall' launch mentioned in the script?

The 'Tmall' launch was significant as it was initially met with resistance, but the speaker's strategy of targeting younger people who were more open to online shopping eventually paid off.

How does the speaker define success for Alibaba?

The speaker defines success not just by revenue but by the company's ability to help others and empower small businesses and individuals to sell and buy globally.

What role does the speaker believe women play in the success of Alibaba?

The speaker believes that women play a crucial role in Alibaba's success, as they make up nearly half of the employees and a significant portion of senior management, bringing a caring and user-friendly perspective to the business.

Outlines

00:00

🚀 Entrepreneurship and Learning from Mistakes

The speaker reflects on the importance of embracing failures and mistakes as integral to success. He shares his gratitude for the rejections and failures that led to the creation of Alibaba. The speaker emphasizes the necessity of proving oneself to gain support and the value of learning from mistakes rather than just studying success stories. He encourages entrepreneurs to adopt the right attitude towards failures, to persevere, and to see complaints as opportunities. The narrative includes the early struggles of Alibaba, including the lack of initial investment and partnerships, and how these challenges were overcome. The speaker also highlights the growth of Alibaba from a small startup to a global platform with millions of users, illustrating the power of belief and persistence.

05:01

🌐 The Future of E-commerce and Globalization

The speaker discusses the potential of e-commerce and the importance of having a global vision for small businesses. He shares Alibaba's journey, from its humble beginnings to becoming a major e-commerce platform, and sets ambitious goals for the future, such as becoming the fifth largest economy online. The speaker stresses the importance of believing in the future and having the patience to wait for opportunities to mature. He also touches on the shift from traditional business models to consumer-driven ones (C2B) and the necessity for businesses to leverage the internet for globalization. The speaker advocates for thinking beyond local boundaries and for continuous learning, especially for young entrepreneurs, to adapt to the evolving digital landscape.

10:03

💪 Staying Humble and Persistent in Entrepreneurship

In this concluding paragraph, the speaker imparts a final piece of advice to entrepreneurs and small business owners. He encourages them to hold onto their dreams, remain humble, and continue to fight for their vision. The speaker's message is one of resilience and the importance of maintaining a positive attitude and a strong belief in one's goals, even in the face of adversity.

Keywords

💡Mistakes

Mistakes refer to errors or incorrect decisions that lead to undesirable outcomes. In the context of the video, the speaker expresses gratitude for the mistakes made because they have been instrumental in shaping Alibaba's success. The speaker emphasizes that learning from mistakes is crucial for growth, as it teaches one the right attitude and resilience, which are vital for entrepreneurship.

💡Rejection

Rejection is the act of refusing to accept, consider, or deal with something. The video highlights that rejection is a natural part of the entrepreneurial journey. The speaker suggests that instead of being disheartened by rejection, one should use it as a motivation to prove oneself and eventually earn the support of others.

💡Empowerment

Empowerment is the process of becoming stronger and more confident, especially in controlling one's life and claiming one's rights. The video's theme revolves around using the internet to empower others, particularly young people, small businesses, and women, to have a brighter future. This concept is central to Alibaba's mission and is seen as a key driver of its success.

💡Entrepreneurship

Entrepreneurship is the process of designing, launching, and running a new business, which typically starts as a small business, such as an online store or service. The video script is a testament to the challenges and rewards of entrepreneurship, with the speaker sharing personal anecdotes about the founding of Alibaba and the importance of perseverance and vision in building a successful business.

💡E-commerce

E-commerce refers to the buying and selling of goods or services using the internet, and the processes involved in doing so. The speaker discusses the evolution of e-commerce and its potential, emphasizing that it is not just a trend but the future of business. Alibaba's growth and the speaker's predictions about the increasing number of people shopping online underscore the significance of e-commerce.

💡Globalization

Globalization is the process of increasing global connectivity and integration in terms of trade, culture, and economic exchange. The video advocates for the globalization of small businesses, suggesting that to thrive in the future, businesses must operate on a global scale, leveraging the internet to reach customers worldwide.

💡Innovation

Innovation is the introduction of new ideas, products, or methods. The video script mentions innovation in the context of Alibaba's early struggles and eventual success, highlighting the importance of being innovative in business models and strategies to stay ahead in a competitive market.

💡Trust

Trust is confidence in the reliability, truth, or ability of someone or something. The speaker recounts how Alibaba initially built trust with its users by making purchases themselves to encourage others to join the platform. Trust is portrayed as a fundamental aspect of Alibaba's business model and a key factor in its success.

💡Opportunity

Opportunity refers to a set of circumstances that makes it possible to do something or a situation in which an idea or plan can be put into effect. The video emphasizes that opportunities arise when one addresses complaints or unmet needs, and that entrepreneurs should be alert to these opportunities to innovate and grow.

💡Belief

Belief is the state or habit of mind of a person with regard to acceptance of a claim about something, without certain proof. The speaker stresses the importance of believing in the future and in one's dreams as a driving force for success. Belief is presented as a core value that has propelled Alibaba and its founder through challenges and towards their vision.

💡C2B

C2B stands for Consumer to Business, a business model where consumers initiate the supply chain process by expressing their needs, which businesses then fulfill. The video suggests that the future of business will shift from the traditional B2C (Business to Consumer) model to a C2B model, where consumer demands directly influence business production and offerings.

Highlights

Gratitude for failures and mistakes as they led to the creation of Alibaba.

Every day at Alibaba is filled with making mistakes and facing rejections.

The necessity to prove oneself to gain help and support from others.

Alibaba's 18-year journey from a small apartment to a global e-commerce giant.

The importance of learning from mistakes rather than just studying successful stories.

The belief in the internet's power to empower others and create opportunities for the youth, small businesses, and women.

The attitude towards mistakes and the spirit of never giving up is more important than avoiding mistakes.

The challenge of securing funding and partnerships when no one believed in small businesses and e-commerce in China.

Entrepreneurs should not complain; instead, they should see complaints as opportunities.

The difference between big and small companies lies in dreams, not revenue.

The story of Alibaba's initial struggle and how they built trust by buying from their own platform.

The exponential growth of Alibaba from 18 to 50,000 employees and over 500 million users.

The vision of e-commerce as a beginning, with the potential to include billions more users in the future.

Alibaba's record-breaking sales figures, including $550 billion in a year and over $8 billion in a single day.

The belief in a future where individuals and small businesses can easily sell and buy globally through the internet.

The importance of having a dream and staying focused on the future, even in turbulent times.

The shift from traditional manufacturing to a consumer-driven market (C2B) in the future.

The necessity for small businesses to think globally and leverage internet technology for growth.

The significance of women in Alibaba's workforce and their contribution to the company's success.

The message to entrepreneurs to never stop learning and to maintain a foolish dedication to their dreams.

Transcripts

[Music]

I would love to discuss something about

the failures mistakes we

made the thing I feel most thankful is

all the mistakes of the refuse that I

got CU without that there would never be

Alibaba in the past 18 years every day

we make mistakes every we were rejected

I think being rejected being refused by

people that is very natural why people

should help you you have to prove

yourself then people would help you

Alibaba was not a made today Alibaba was

made 18 years ago in my apartment the

believing that using internet Empower

others using in Internet to help young

people small business and women will

have Brad future so it's been 18 years

hard working we came

here people love to see successful

stories but most of the success stories

they succeed because of the mistakes I

encouraging all the young people

entrepreneurs to learn from the mistakes

do not to study successful stories

successful successful stories in the

Harvard Business School normally you

know there are a lot of things behind

you don't know but if you learn from the

mistakes if you learn

especially the failes cases studies it's

going to help you what I want to say

it's not about you you learn from

mistakes does not mean you will avoid

mistakes you will learn the attitude

towards these mistakes and never give up

fighting again of course it's very

painful when you rejected when you

refused I went all the around to looking

for money nobody give us the money I all

go around looking for Partnerships

nobody believe small business and

e-commerce in China with the work so

this is what we did as entrepreneur we

never complain when people complain the

opportunity comes so if you can solve

the complaints that is your

opportunity so I love to when I talk to

the entrepreneurs I feel excited when I

sitting there listen to the the

entrepreneurs talk I feel inspired I

feel we are the same animal the

difference between big company and small

company is not about Revenue it's about

the dream the small companies have the

dreams most of the big companies when

they get certain size they only have

kpi so if you fight only for next

quarter how can you survive in such a

turbulence times you have to believe the

future you have to continue to the

Future you have to stay focused I

remember when we launched the tow ball

was funny when we launched to ball we

thought we're going to have a big

business in about one month but for the

first five days nobody come here even

shopping so the seven colle employees in

my apartment we have to buy ourselves he

sell we

buy and the first you know the first am

when somebody came to sell no matter

whatever he sell we buy

them that would tell the S the s wellow

this thing really can be able to sell so

more people come sell so we bought a

whole house of things garbage that no

use but at least we build up the trust

we start to sell we start to learn and

we learn the the experience of selling

we learn experience of the

servicing today from nobody from nothing

we have got from 18 people to 50,000

people from no no nobody come to sell

and The Bu we got a 500 million more

than 500 million users and every day 200

million people come to sell and buy on

the Alibaba site on the Teo and Tall we

sell things not by Mouse we sell things

not by Day we sell things by

seconds

and this is not only today this is the

future I want tell you 10 20 years years

later all these things will be natural

every day things could be that if you

hit the sweet point if your products

good if your service good your products

will have good sale because they're

billion today the whole world is about

1.8 billion people online right and only

less than like 800 million people

shopping online We Believe next 20 years

they were adding another three billion

people online and and next in next 10 20

years

60% of the people will shop online so

e-commerce is just a

beginning and we by selling no no

revenues and no nobody come to sell last

year we sold

$550 billion

us and for one singl day last year we

sold more than $8 billion US dollar one

day so this this thing you can never

imagine but we said 10 years later every

day we may sell $18

billion even at our size today we still

think we are small

business because we still have the

dreams we think our mission is helping

doing business easier there are so many

small business there are so many

developing countries there are so many

opportunities there there are so many

people still not online shopping online

sales that we should do so our dream is

to make our company the fifth largest

economy online we think in the future

there will be a virtual economy that

will enable every individual every small

business they can Global sell Global buy

Global Pay Global deliver and Global

tour travel around this is what we

believe most people seeing is believing

but real entrepreneurs and

leaders We Believe then we see we

believe the future then we will see the

future in the past 18 years of

experience the most difficult thing in

this world is to convincing successful

people they will tell you oh no we've

been doing that for years don't don't

tell me internet is works but it's easy

and it's good to to help those people

who want to be successful so helping

young people is helping future believing

young people is believing your future

what we did in the past 18 years uh 15

years ago when we launched top ball

nobody want to using top ball Teo so we

try to convincing those people who are

18 years old they don't have money they

want to buy you know cheaper things and

Tiny things those people who are 40

years old they don't buy it they think

no no no no we don't like it so we said

for 18 years people in in China in the

older days when we convincing older

people we're convincing young people but

now we're convincing young people we're

convince older people so those 18 years

old we wait for them for 10 years when

they are 28 they are they will be the

future that is why we have a patience

for 15 years ago we've been waiting for

15 years until today all these small

business entrepreneurs remember one

thing

80% of the small business in the future

must be

globalized if you are not globalized

company you will never be able to

survive easily and if you do not using

internet to globalize not the necessary

Alibaba if you do not using internet to

globalize your business you will not

have a chance if you do not know c2b

because last century manufacturing is

about a b Toc in the future is got a c2b

consumer to business so all the model is

going to change every small business all

the young people here think globally

think a bit you only in the F in the

past you only do things in your if you

do things in your only small County your

small tiny business small business can

leverage the internet technology

leverage the market go across the board

think big and think out of the boundary

this is a prime minister I absolutely

agree with that so it's Say Never Too

Late never too late to learn to that

Internet is just the beginning

e-commerce is just beginning the good

thing about the young people is that we

always keep learning one

key element one of the secret source of

Alibaba

success is we we have close to 50% of

employees of

women at the internet time women because

they care others more than they canel

they the usability so good they online

they care for the others so most of the

we have more than 47 48% of employees of

our company a women we have 33% of the

Senior Management of women these people

they consider the others so online time

e-commerce time when you do business

cross the ocean cross the board I would

say think out of the box be confident as

entrepreneur at a small business have a

dream stay foolish to a dream and

continue to fight