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Jack Ma is arguably China's most famous -- and successful -- entrepreneur. Though he's no longer running Alibaba Group Holding Ltd. -- the e-commerce company he founded that is gearing up for a multi-billion dollar initial public offering -- Mr. Ma is still proselytizing the benefits of entrepreneurship. So what's his advice for fledgling entrepreneurs ready to start their own businesses? On Sunday, in front of thousands of young people in Hong Kong at the 'Youth Business Project conference, ' Mr. Ma shared his advice: There are business opportunities in 80% of industries in China, including the 'green' or environmentally friendly industry. Whenever people have complaints or are dissatisfied with something, that equals a business opportunity.
--Avoid starting businesses with good friends. But once you're running a business, try your best to be good friends with your business partner. --Always remember the passion you've had at the very beginning of starting the business. Never start a business just to make money. --A Tai Chi practitioner for years, Mr. Ma used the Chinese practice as a metaphor for running his business. 'The idea of practicing Tai Chi also applies in the commercial world, ' he told the audience. Tai Chi emphasizes that 'your attitude in heart affects your shape or form on the outside, ' said Mr. Ma. Mr. Ma opened a Tai Chi school with Chinese action star Jet Li in Hangzhou, where Alibaba was founded in 1999, by 18 people led by Mr. Ma, a former English teacher. Running a business is never easy. Even Mr. Ma, who brought the company to become China's e-commerce giant with 24, 000 employees now, said he made numerous mistakes along his journey in building the business. 'The biggest mistake is yet to come, ' he said, half-jokingly. |
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