China is the wealthiest nation in the world, so what does that say about its entrepreneurs? One entrepreneur making international headlines is Richard Liu Qiangdong, founder and CEO of JD.com.
Currently, JD.com is the most successful online business in China. Forbes estimates the company’s net worth at $11 billion. In an interview with Davos-Klosters in Dallas earlier this year, Richard Liu Qiangdong spoke about his climb to success. He agreed to the forum-style discussion so that he could hear voices from an international audience. The interview also allowed him to share some business and personal facts and tips that may help others shape their enterprises.
The first story he shared was about combining his name and his wife’s name to come up with JD. That tidbit was a little of both business and personal information. Second, he talked about first coming up with the idea of JD.com. Read This Article for additional information.
After earning a sociology degree from Renmin University, he started thinking about opening his own business. With a degree in sociology, he couldn’t earn much money, but entrepreneurship offered limitless potential. In need of money, he began learning computer programming and exploring his entrepreneurial options.
Liu’s first jump toward owning a company was a little restaurant he started while working toward another degree from China Europe International Business School. With school and work taking much of his time, he only worked at the restaurant two hours a week, leading the restaurant’s quick failure. Still, he continued exploring entrepreneurship.
After earning his EMBA, he took a job at Japan Life, where he worked his way up the ladder. Though he landed a professional job, he needed more money. In 1998, he opened a tiny store called Jingdong, where he sold magneto-optical products. Finally, he launched an idea that made him a successful entrepreneur.
By 2003, Jingdong had 12 stores across China. Sadly, the SARS outbreak brought his company to an end, forcing him to close all 12 stores. That’s when Richard Liu focused on launching JD.com, which is now a $60 billion company.
More about Richard Liu Qiangdong on http://usa.chinadaily.com.cn/epaper/2017-03/09/content_28492448.htm