This is the success story of a man, who is one of the top wealthiest people in the world. let’s start from his childhood.
His full name is JACK MA YUN .born to a traditional musician-storyteller parent on October 15,1964 in Hangzhou, China. he is the second child in his family. he had a younger sister and an elder brother. During his time the communism is ruling China, so they had no contact with the western world. from the year 1972 tourism started in the city, Jack ma took advantage of the opportunity and worked as a tourist guide in exchange of English lesson from tourist.
his educational background was very weak. He failed his primary education exam 2 times before he got it right. Continuing to middle school he failed to graduate exam 3 times before going through. Well, this was not the end of failure in his education system. After high school when applying for university, he failed the entrance exam thrice. one of his dreams was to join Harvard University. he applied 10 times, But unfortunately, he got rejected every single time he applied. Eventually, in the third attempt he joined Hangzhou teachers university, which is currently known as Hangzhou normal university. he graduated with a bachelor in English.
After graduating he applied for 30 different jobs and subsequently rejected by all of them, he even applied to be a police officer and as usual, he was rejected. finally, he became an English teacher in the local University in which he studied few years before. Later he started a translation service Business. Upon his first visit to the united states in 1995 as a translator, jack ma got introduced to the internet. he learned many things using the internet. He noticed that nothing from his home country(China) was available there. He identified the business opportunity with the use of the internet. There came the idea of launching a new website to make China to do business with the rest of the world. The name of the page is “ChinaPage”, this is the page which introduced Chinese product to the world. he created this website with his friends.
During the same day of launching of their website, they started receiving mail from many people around the world, requesting to become a partner with their company. That incident taught Jack the power of connectivity, specially how the internet can greatly impact the global trade potential for small Enterprises. However, due to lack of fund jack had to shut down his business. Later he took a government job for a short period at the Ministry of Foreign Trade an Economic Cooperation in the latter half of 1990’s. There he built a relationship with influential people. In 1999 he left his job and went off to accomplish his dream again. That is where he started ALIBABA by grouping with a total of 18 people including him and his wife. It is an E-commerce website which made Chinese enterprises open to world trade again.
In the early stages Jack wanted to raise funds from the Silicon Valley, but as usual, it got denied saying that the business plan is unprofitable. he didn’t give up until he finally found Goldman Sachs and Soft-bank to invest $5 million and $20 million respectively.
Alibaba faced serious challenges in 2000. Jack ma successfully reorganized company operations, by closing many international branches. he focused on strengthening Alibaba’s position in the Chinese market, thereafter jack expanded the services of Alibaba and re-engaged its international expansion strategy. After jack and Alibaba reorganized their operation and made their mark by driving E- bay out of China after just few years in business.
Jack Ma succeeded in getting Yahoo to invest a sizable amount of $ 1 Billion for 40% stake in Alibaba in 2005. in 2014 jack ma listed Alibaba in New York stock exchange and raised $ 25 billion In excess.
That is how Alibaba became a successful business and it is now one of the top E-commerce websites in the world. Now its market value is nearly $200 billion.
If he had given up due to his failure there would have been no such website named Alibaba exist now. Due to his hard work, it became a massive success too.
REMEMBER FAILURES ARE THE STEPS TO SUCCESS. IF YOU ARE AFRAID OF FAILING ITS BETTER YOU DON’T THINK OF SUCCESS
Author: Mohamed Rifai