Jack Ma is Asia’s, Bill Gates. Alibaba Group was founded by Jack Ma. Jack Ma is currently the wealthiest person living in China.
1. Every day, the world changes.
Jack Ma stated, “Please tell children that the world changes every day. No one will wait for you in your past.” Matches slowly vanished after the invention of lighters. The calculator made it possible to calculate the time. The market for negative film shrank when the digital camera was invented. When direct market selling/internet-based selling arose, traditional marketing declined. Smartphones with 4G (wireless internet connection) were introduced to the world. You no longer have to turn on your computer at work. Traditional text messaging was less popular after the introduction of WeChat (mobile text/voice/video messaging platform) and WhatsApp (mobile messaging app). We can’t blame “Who took over who’s business?” People are more flexible and adaptable to new ideas, changes, and opportunities in the world.
The world is constantly changing, and I believe it is changing faster than it has ever been in the past. Because he thought of printing the tabloid and then giving it away, I was inspired by him. He makes his living from advertisements that are placed by companies and individuals looking to promote their products or services to the public.
He did not respond to the internet threat. Instead of creating a website to host the ads of his customers, he decided to fight by reducing the price of the advertisements. His business was soon in decline as people preferred to read the internet over his newspaper. His idea was reimagined by entrepreneurs. They created a website instead of a newspaper. If he had changed his original idea and used a different platform, he could have survived the changes. He could have moved his business to the Internet instead of reacting to lower ad costs. While he has already established the brand and has customers (advertisers, readers), the new businessmen were just beginning.
It is essential to be open to change and to adapt quickly to it. We will be left behind, and our business will end.
2. Do more than just look.
Jack Ma was asked by someone, “What’s your secret to success?” Jack Ma replied, “Really simple… He said, “Straightforward…I am doing (action) while you are only watching. Sometimes the best solution is simple: do it.
You don’t have to look at the success stories of others; you must work towards your own success. Once you’ve identified what needs to happen, take action immediately. If you don’t, someone else will.
3. Sometimes, the most popular idea is not a good idea.
According to Jack Ma, Jack doesn’t get the idea that his team will vote for when he conducts a brainstorming session. He argues that if the majority of people are interested in the idea, it is likely that other businessmen will be thinking about the same idea.
These thoughts may help you to evaluate your business and identify the challenges you faced in 2016. I wish you a happy Christmas and a prosperous new year.
