Top 6 Tips From Business Tycoon Jack Ma

Top 6 Tips From Business Tycoon Jack Ma - Moniedism

The top 6 tips of tycoon Jack Ma that every entrepreneur should know.

The 58-year-old founder of the Alibaba Group is one of the richest men in China with a wealth that exceeds 48 billion dollars

In the West his name does not resonate as strongly as those of other tycoons, but the truth is that in Asia, Jack Ma is a true eminence. At 58 years old, he is one of the richest men in China with a wealth that exceeds 48.00 billion dollars and that places him in 26th place in the world according to magazine Forbes .

Jack Ma's Life

His life was quite 'normal' until in 1999, when he was 35 years old, he came up with a brilliant idea and co-founded the Alibaba Group where he served as CEO until 2019, the year in which he resigned his position to dedicate himself to philanthropy.

But far from being with all the comforts, Ma grew up in a humble family and before dedicating himself to business, he tried to be a police officer without success and worked at a McDonald's until he decided to be an English teacher.

As a good entrepreneur, from the first moment he knew how to diversify and invested in other businesses that today bring him significant benefits, such as participation in Huayi Brothers, one of the largest Chinese companies in the world of entertainment.

From the tycoon, a can be highlighted large number of very useful phrases for anyone looking for inspiration, but we are left with these two. "An entrepreneur must have skills that allow him to withstand the blows of destiny and overcome the inevitable failures" and "No matter how difficult the chase, you must always have the dream you saw the first day. It will keep you motivated and rescue you from any weak thoughts”.

Tips and Philosophy of Life

Two premises that can be applied to his philosophy of life, in which hard work is as important as surrounding himself with a good team. But these are not the only teachings of his phrases, below are some of the most useful for any entrepreneur.

1. Always look for support

"When you start your own business it means that you give up stable income, disability money and annual bonuses. On the other hand, your income is not limited by anything, you are going to use your time more efficiently and you are not going to ask them Permission to other people. Seek as a partner someone who complements your own abilities."

2. Surround yourself with young people

Their innovative thinking and vitality will bring a new point of view to your business. "When you are between 50 and 60 years old, go to young and happy people," he has declared on more than one occasion. An effective method for exchanging experiences and ideas.

3. Do not give up at the first change

The businessman was fired from more than 20 jobs before he created Alibaba, and although it may sound utopian, he has always defended that hard work is the best vehicle to achieve what you really want.

4. Select only the ideas that may seem riskier

"If 90% of the participants in a labor meeting vote in favor of one or the other project, I discard it. The reason is very simple: if all these people see this possibility with such clarity, it is most likely that many other companies are already working on it, and we are not going to be the leaders in this field". Undoubtedly a reasoning that makes a lot of sense.

5. Thinking of improving something that already exists

The key to Ma's success was adapting something that already existed to the Chinese market. But its strategy is not based simply on transforming, but on providing you with added value. This was explained during an interview with CNBC when asked to acquire eBay. "First, I don't know if they would sell; and second, we have to think about one thing, because doing business is not just buying, you have to create something. You have to come up with something that has never existed, for the future".

6. Not obsessing over and spending time with yourself

"If you spend all your time at work, sooner or later you will regret it. All the time I remind myself that we were born not for work but to enjoy life. To improve other people's lives, not to always be at work".

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