Turn your mistakes into opportunities - #Jackma
Summary
TLDRIn 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
🚀 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.
🌐 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.
💪 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.
Mindmap
Keywords
💡Mistakes
💡Rejection
💡Empowerment
💡Entrepreneurship
💡E-commerce
💡Globalization
💡Innovation
💡Trust
💡Opportunity
💡Belief
💡C2B
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
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