For ecommerce, the most important thing is trust.
Interpretation
Trust is crucial in ecommerce for fostering customer relationships and driving sales.
Jack Ma emphasizes the importance of trust in the ecommerce sector, suggesting that without it, customer loyalty and business success cannot be achieved. In an industry where transactions occur without in-person interactions, establishing a strong foundation of trust is essential for customers to feel secure in their purchases, ultimately leading to a thriving business.
In practice
A speaker at an ecommerce conference might use this quote to highlight the role of trust in securing repeat customers.
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.
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.
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.
So many businesses get worried about looking like they might make a mistake, they become afraid to take any risk. Companies are set up so that people judge each other on failure. I am not going to get fired if we have a bad year. Or a bad five years. I donβt have to worry about making things look good if theyβre not. I can actually set up the company to create value.
Imitation can be commercial suicide.
Zoom does not focus on revenue goals, but rather we have confidence that focusing on the happiness of existing customers and our employees will organically increase growth.
Selling concerns itself with the tricks and techniques of getting people to exchange their cash for your product. It is not concerned with the values that the exchange is all about. And it does not, as marketing invariable does, view the entire business process as consisting of a tightly integrated effort to discover, create, arouse and satisfy customer needs.
My own view is that every company requires a long-term view.
Poor firms ignore their competitors; average firms copy their competitors; winning firms lead their competitors.
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