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.
Business today consists in persuading crowds.
My half-baked reading of history is that we continue to go through these waves of entrepreneurial explosion followed by merger mania and consolidation. Out of that come big sluggish companies that eventually collapse under the weight of what they've created, and are killed off by the next wave of entrepreneurs.
Business isn't some disembodied bloodless enterprise. Profit is fine - a sign that the customer honors the value of what we do. But "enterprise" ( a lovely word ) is about heart. About beauty. It's about art. About people throwing themselves on the line. It's about passion and the selfless pursuit of an ideal.
When you start a company, it's a singular focus. You have the wind at your back.
An important priority for me is a business must get their own house in order. Be or become an agent of positive change in your own enterprise and adopt responsible practices to eliminate the risks that often lie at the root of inequality and poverty.
In the final analysis, finding a way to do clean business and not to pay bribes actually improves your bottom line.
Subscribe for the occasional hand-picked quote. No noise.