Success built on a foundation of failure: Jack Ma
Ma Yun, who was born in 1964, is known professionally as Jack Ma is the second richest man in China. He is a business marvel who is the founder and executive chairman of Alibaba Group, a family of successful Internet-based businesses. He is the first mainland Chinese entrepreneur to appear on the cover of Forbes.
Even though constantly criticized about the quality of products on the platform, Jack Ma is leading Alibaba to ever higher sales. His fortune has climbed from $21.8 billion in October 2015, buoyed by the recovery of Alibaba’s stock price. A record $463 billion of business transactions were conducted on Alibaba’s retail platforms in the fiscal year through March 2016. The company set a goal of creating 10 million profitable businesses and 100 million jobs in the next 20 years. Beyond e-commerce, in October 2016 Alibaba’s film unit forged an alliance with Steven Spielberg’s Amblin Partners, giving a potential boost to a struggling effort so far in the entertainment industry.
From Rags to Riches
However his story hasn’t always been on the success vein. He explained that his success is built on a foundation of failure. It was stated that having continuously applying to university thrice, he was repeatedly rejected. The arrival of global fast food giant Kentucky Fried Chicken (KFC) has his hopes up. However from the 24 who applied, Jack Ma was the only person who didn’t get through.
Failure is Giving Up
These experiences proved to be the most valuable lessons that moulded his future.
According to Ma, “giving up is the greatest failure.” If you go out, try your best and fail to achieve your goal but see it through to the end you are a success. Like all great leaders, Ma recognizes that a person is able to learn the most from obstacles and hardships. They key to success is persevering and learning from mistakes he explains.
Love Life
“I always tell myself that we are born here not to work, but to enjoy life. We are here to make things better for one another, and not to work. If you are spending your whole life working, you will certainly regret it.” This sentiment lies at the heart of Jack Ma’s lifestyle. Life is for experiencing the world and helping out other people. If money is the goal, he advises that it is critical to change the mindset.
Attitude
Jack Ma believes that the only way to be successful is to have the mindset and attitude to win.
When Jack Ma talks about the biggest mistake he ever made he describes how when he founded Alibaba he told his team that the highest level they could achieve would be that of managers, and that executives should be hired from the outside. Ma has learned his lesson and now stresses the importance of attitude and passion over theoretical skills.
Inspire to Win
He has not let success cloud his vision for the future or his acknowledgement of where he came from. Jack Ma’s keys to success are true and inspiring for everyone from aspiring billionaires to owners of the smallest businesses.