Helping doing business easier, we choose the name Alibaba because it is a global company. It is founded in China, but it was created for the world.
Interpretation
Jack Ma explains the choice of the name Alibaba for his global business venture, emphasizing its worldwide reach and origins in China.
In this quote, Jack Ma elaborates on the significance of the name 'Alibaba' as it reflects the company's ambition to make business more accessible on a global scale. By choosing a name that resonates universally, he highlights the company's originating from China while aiming to serve customers around the world, thus embodying the spirit of globalization and innovation.
In practice
Using this quote at a business conference to inspire entrepreneurs about globalization.
Hong Kong people say Hong Kong needs to preserve its uniqueness. I say Hong Kong's uniqueness is in its diversity, its tolerance of difference cultures... China does not want to see Hong Kong in decline. I have full confidence in its future.
If we are a good team and know what we want to do, one of us can defeat tons of them.
It's not that other countries steal jobs from you guys. It's your strategy. Distribute the money and things in a proper way.
In the beginning I just wanted to survive. For the first three years, we made zero revenue. I remember many times when I was trying to pay up, the restaurant owner would say, 'Your bill was paid.' And there would be a note saying, 'Mr. Ma, I'm your customer on the Alibaba platform. I made a lot of money, and I know you don't, so I paid the bill.'
Even if your competitor is still small in size or weak, you should take him seriously and treat him as a giant. Likewise, even if your competitor is massive in size, you shouldn't regard yourself as a weakling.
A leader should have higher endurance and ability to accept and embrace failure.
Learn to sell. In business you’re always selling: to your prospects, investors and employees. To be the best salesperson put yourself in the shoes of the person to whom you’re selling. Don’t sell your product. Solve their problems.
No one knows the cost of a defective product - don't tell me you do. You know the cost of replacing it, but not the cost of a dissatisfied customer.
Companies that get confused, that think their goal is revenue or stock price or something. You have to focus on the things that lead to those.
At first, we couldn't be establishment, because we didn't have any money. We were guerrilla marketers, and we still are, a little bit. But, as we became No. 1 in our industry, we've had to modify our culture and become a bit more planned.
I'd rather Apple cannibalize Apple than somebody else cannibalize Apple.
I think that the direct conversation is exactly what companies need to earn trust of customers. Admit an error. Fix a problem. Commit to doing better. That is only human.
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