Success and profitability are outcomes of focusing on customers and employees, not objectives.
Interpretation
Focusing on the needs of customers and employees leads to success and profitability.
Jack Ma highlights that success and profitability should not be seen as primary objectives, but rather as natural outcomes of prioritizing the satisfaction of customers and the well-being of employees. By cultivating a strong relationship with both groups, businesses can foster loyalty, improve service, and enhance productivity, ultimately leading to greater success.
In practice
In a business seminar discussing how customer satisfaction drives profits.
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.
To have a successful career, you have to approach it as an entrepreneur, even if you are working for someone else. Your career is your own private business. You have to market yourself and your abilities and knowledge just as you would a product or service.
When you're an investor, you can look at the quantitative and qualitative elements of an investment, but there's a third aspect: What you feel in your gut.
Good service leads to multiple sales. If you take good care of your customers, they will open doors you could never open by yourself.
God gave me my money. I believe the power to make money is a gift from God . to be developed and used to the best of our ability for the good of mankind. Having been endowed with the gift I possess, I believe it is my duty to make money and still more money and to use the money I make for the good of my fellow man according to the dictates of my conscience.
Approach each customer with the idea of helping him or her solve a problem or achieve a goal, not of selling a product or service.
Everyone said, 'Emil, you are a fool!' _x000D_ But when I first won the European Championship, they said: 'Emil, you are a genius!'
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