Please enable JavaScript.
Coggle requires JavaScript to display documents.
G1: Jack Ma - On 60 Minutes CBS (From the video (Jack Ma (Never got one…
G1: Jack Ma - On 60 Minutes CBS
From the video
Customer number one, employee number two, shareholders number three
If we take care of customers and employee, shareholders will also be well taken care of
Shareholders couldn't interfere on how he runs the company
Alibaba
Didn’t make profit at the first few years
A collection of online marketplaces where buyers and sellers connect to do business
Money comes from advertising and small transactions fees
100 million people visit website and shop EVERYDAY
Before Alibaba came
Only way to buy things was face-to-face and in cash
Nobody believe E-commerce in China, people only want to work in traditional way
No trust system
Overcome centuries of tradition to show buyers and sellers to trust Alibaba with their money
People in china who never had a way to do business with each other before today have a stake in the online world
Creates millions of jobs
Fake goods
People will lose trust to website
Cancer
Close shop
Jack Ma
Trained English by offering free tours to foreigners in exchange for free lessons
Never studied in US
Had no status, money or connections
Failed college's entrance exam twice
Got rejected ten to fifteen times when looking for jobs
Captivated by the internet when he first saw it in 1995
No computing and engineering background
Help more people have jobs and the government believe he can stabalize the country
Never got one cent from the government and China banks
Never ever do projects for government
Good and love relationship with government
Poor family
Today is difficult tomorrow is more difficult but the day after tomorrow is beautiful
America VS China
American dream
Freedom
Able to be something and be someone and make something of your life
China dream
Need someone politically connected or rich
Alipay
An escrow account
Alibaba holds the buyers’ money until the goods are delivered
30 millions transactions EVERYDAY
The trust exist
More than 900 million registered accounts
2 failures that being mentioned in the video
failing the college entrance exam twice
How Jack Ma Overcame His 7 Biggest Failures
Stayed optimistic after being turned down for 30 jobs
just like his favorite movie hero, Forrest Gump(阿甘正傳), Ma kept on running.
"Today is cruel. Tomorrow is crueler. And the day after tomorrow is beautiful.
Was the only interviewee (out of 24) rejected by KFC
Out of 24 KFC applicants in his pool, 23 were hired. Ma was the only one to be rejected
He attributes this largely to his lack of good looks and short stature
His wife, Zhang Ying said that, “Ma Yun is not a handsome man, but I fell for him because he can do a lot of things handsome men cannot do.”
This failure motivated him to create him own business
Wasn’t deterred after being rejected from Harvard 10 times
Ma said that, "the very important thing you should have is patience"
patience push him to use his free time to approve his English and social ability
He walked up to foreigners and offered free tours
He end up became a chairman in student associtation
Couldn’t convince Silicon Valley to fund Alibaba
Alibaba wasn’t profitable the first three years
In the beginning, they expanded too fast and almost imploded when the dot-com bubble burst
At one point, Alibaba was just 18 months away from bankruptcy
Ma did his effort to prove himself, including Taobao(2003) and Alipay(2004)
Scored 1 out of 120 points on the math portion of his college entrance exam
To quote Ma: “I am not good at math, have never studied management, and still cannot read accounting reports."
But as it turns out, he never needed to be good at math to become a billionaire
Didn’t give up after failing many exams at school.
read a Chinese novel called 人生(life), and understood that one who has never tasted what is bitter does not know what is sweet.
What doesn't kill him makes him stronger
End up adopted by Hangzhou Normal University, and major in English
Quoted that, "Paying effort doesn't make you definitely success, but if you don't pay any effort, you will definitely not success. "
(努力不一定會成功，但不努力一定不會成功。)
Told his 18 Alibaba partners that none of them could be execs
In one of the worst financial and motivational decisions a CEO can make, Ma told the 18 partners, that none could rise higher than the rank of manager
His plan was to instead hire outside managers
This, he notes, was his biggest mistake ever
The lessons he learned from the dark days at Alibaba are that you've got to make your team have value, innovation, and vision
As Ma says: “If you don’t give up, you still have a chance. Giving up is the greatest failure.”
failing his first two ventures
https://youtu.be/-upKtcfZJTw
How do Jack Ma face the criticism about difference model with Amazon?
As a e-commerce, we put 10 million small business to sell , not even Amazon can check all of the product
we are the leader of big data in the past 17 years
check who is buying, manufacturing, and selling
we have to listen what is right and what is wrong
the meeting with Donald Trump
Jack is going to create 1 million jobs in US in 5 years
he can help middle West farmers and small business to export to China
Believe
even he has a totally different model with Amazon, but he believes he will success
WTO vs EWTP
WTO
managed by a group of governors
no chance for small business
mainly designed for developed countries and big countries
eWTP
he believes business should be discussed with business people
support small business, young people through mobile phone, internet, they can sell across the broad