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.