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Jack Ma’s Definitive Guide to PR and Marketing For Founders and Entrepreneurs — Pressfarm

Jack Ma struggled a lot in his younger life. He took his entrance exams thrice before succeeding for admission. For a while he worked as a teacher, and a tour guide with very little pay. Today he is a multi-billionaire and founder of Alibaba — China’s biggest e-commerce company.

Jack Ma’s Business Philosophy

In building China’s biggest internet company, Jack has drawn a lot of lessons. It was never an easy ride. Even as he built the business one block and one sale at a time, he has insisted that he could never have done it without building trust between his company and the customers.

1) Find opportunity in complaints

Jack is not a big fan of people who like to complain all they time. No wonder he advises entrepreneurs to find opportunities where people are complaining. When people complain, the express their needs. By addressing these needs they can move from complaints to being happy by solutions provided.

2) Unite people with a common goal

Jack Ma’s 18 co-founders with whom they started Alibaba Group would never have joined him in this venture had he not communicated his vision to them.

3) Innovate

One thing that Alibaba Group never stopped doing is to innovate even as the company grew. When they saw issues with the service they asked questions on how to make it better. They wanted to make the whole service better.

4) There is only one business model — helping others

If your startup is not helping other people, then there is no point of having it. According to the $40 billion net worth founder, for entrepreneurs and small businesses, the money is in helping others.

5) Funding is a problem but it should not stop you

When he was thinking of Alibaba, he didn’t have any money. All banks refused to lend him money.

6) Sharing is the future

Many years ago, technology benefitted all those who had information.

7) Passion is a better motivator

What made Alibaba as big as it is today is the passion with which Ma and his group of co-founders had for the future of the internet in China.

8) Giving up is the real failure

While so many ideas are launched every other day around the world, very few of them even last for more than 6 months.

9) Avoid aggressive competition

Competition doesn’t have to be a war. Your competitors should not be your enemies.

10) Create the job you want

Jack Ma advises entrepreneurs to create a company that they would love to work for.

11) Make the changes in the company while the sun is shining

Just when you and your team think it has been a good ride this year, is when you should avoid falling into the comfort zone the most. Jack’s philosophy is that you have to implement tweaks and changes when customers are happy, when employees are happy, because the effects will be felt very minimally, and slowly. But they should be positive effects.

12) Be a visionary leader

According to Jack Ma, it is not in the place of the founder or entrepreneur to be the best at the technical skills required in the company. In fact, he shouldn’t even bother.

  • He should also have more grit and tenacity. He has to have the capacity to endure the most pain, and to be strong for everyone else. He should be the most resilient in the team in order to inspire confidence during the tough tides when the business is going through rough periods of time.
  • He should have the most endurance when faced with failure. The employees can give up if they realise their founder has given up. Even when faced with failure, the entrepreneur has to withstand the effects of this shift in moods. Their ability to stand through this tough period determines whether the team stands or falls, and whether the business can get back up or it dies.

13) Hire people who are smarter than you

Alibaba has always made it a point to hire a smarter person than their previous hire. They do not benchmark the smartness based on how intelligent the founder is or how much amount of technical know how he possesses. In fact, it is possible that by the time a few initial hires were made by the Alibaba Group, the founding team were no longer the smartest in the company.

14) Money and politics is an explosive

He urges entrepreneurs not to mix politics and money.

5 Best Jack Ma Quotes for Successful Startups

  • The mission was never to be the success.

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