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

Master Sear

15 May 201606:39

Summary

TLDRJack 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.

Outlines

00:00

😊 Being optimistic and working hard leads to success

Paragraph 1 discusses how Jack Ma was optimistic about the future and the internet in 1994 even though others didn't believe in his ideas. He started Alibaba because he couldn't find a good job and wanted to solve people's complaints. He believes successful people like Bill Gates are optimistic, work with young people, and try to solve problems rather than complain.

05:03

😃 Identifying and solving people's complaints leads to opportunities

Paragraph 2 talks about how small businesses in China wanted to participate in trade shows abroad in the 1990s but couldn't get visas, money, or relationships. Jack Ma saw an opportunity to help them through the internet even though nobody else believed it would work. He advises young people to take action on their ideas and help others be successful.

Mindmap

Keywords

💡optimistic

The speaker emphasizes being optimistic and positive about the future. He says that when you're optimistic, you believe anything is possible, even if others doubt you. This was key to his success with Alibaba - he envisioned the potential of the internet even when 23 venture capitalists said his idea would fail.

💡opportunities

The speaker discusses finding and seizing opportunities repeatedly. He found opportunity in solving people's complaints about exporting products from China in the 1990s. He urges the audience not to complain but to solve problems and convert complaints into opportunities.

💡passion

The speaker values passion and a willingness to learn in young people over formal education like degrees. He says degrees just show you can pay for an education, but you learn by doing and proving yourself in the real world.

💡youth/young people

The speaker invests in young people to drive innovation, without requiring computer skills first. He believes if you solve problems for young people, they can accomplish great things. Over 34,000 young staff drive new initiatives at his company.

💡hard work

The speaker emphasizes that you have to work extremely hard to be successful working for yourself or others. He chose to work for himself but that means working for society by helping others.

💡future focused

The speaker notes that iconic leaders like Gates and Buffett are always optimistic and focused on the future, working with young people to drive progress. He tries to carry on this tradition.

💡problem solving

The speaker argues that leaders don't complain about problems, they solve problems. He solves problems by converting customer complaints into business opportunities.

💡technology

The speaker founded Internet company Alibaba by foreseeing the potential of the internet and ecommerce before most. He invested in developing this technology long-term.

💡never give up

The speaker emphasizes determination in the face of adversity, urging young people to keep pursuing big dreams no matter who doubts them, as long as they believe in themselves.

💡helping others

The speaker links professional success to helping others succeed. By solving problems for society and customers, he drove his own success.

Highlights

I was optimistic for the future of the internet in 1994 when no one else believed it could work

I started Alibaba because I couldn't find a good job, not because I had a vision for the internet

A university degree is just a receipt that you paid money to study; the real education comes from proving yourself in society

I look for young people with passion, willingness to learn, and perseverance, not their academic credentials

The opportunity lies where people complain; if you can solve their complaints, you'll find success

I started Alibaba to help small businesses sell abroad that didn't have the means on their own

Successful people like Bill Gates are always optimistic and try to solve problems for others

We invest heavily in young people at Alibaba because I don't need them to know computers already

Money alone isn't enough to motivate young people; you need to awaken their consciousness

Believe in your dreams whether anyone else does, even investors, friends, or your parents

Take action every day with passion to achieve your dreams, even if no one else supports you

If you work for yourself, make sure you're helping others and society

Tomorrow is a new day to believe in your dreams and take action on them

You have to work very hard every day to be successful

When you help others be successful and happy, you will find success and happiness yourself