When we started the e-commerce, nobody believed that China would have e-commerce because people believed in 'guang-shi,' face-to-face, and all kinds of network in traditional ways. There's no trust system in China.
Interpretation
The quote highlights the skepticism faced by e-commerce in China due to traditional ways and lack of trust.
Jack Ma emphasizes that when e-commerce was first introduced in China, many were doubtful of its success because the culture at the time heavily relied on personal connections and face-to-face interactions. This skepticism stemmed from a lack of established trust mechanisms in online transactions, contrasting sharply with the growing acceptance of digital commerce over time.
In practice
This quote can inspire entrepreneurs facing skepticism in their ventures.
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.
The business of business should not be about money. It should be about responsibility. It should be about public good, not private greed
I don't know why the word 'solopreneur' is in our lexicon. Nobody can physically do it all by themselves, and more importantly, why would they want to? Being the sales team, the HR department, management, and production all by yourself is terrible. Period.
Make your product easier to buy than your competition, or you will find your customers buying from them, not you.
I'll tell you why I like the cigarette business. It cost a penny to make. Sell it for a dollar. It's addictive. And there's a fantastic brand loyalty.
I don't think a true company - one that builds sustainable value - can ever only exist online or remotely.
If you understand cause and effect, it brings about a set of insights that leads you to a very different place. The knowledge will persuade you that the market isn't organized by customer category or by product category. If you understand the job that consumers need to complete, you can articulate all of the experiences in that job.
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