How Richard Liu Qiangdong Created A Business Empire

Creating a successful business is not always an easy affair. You have to go through many challenges, and that is the reason many startups fail.

However, Richard Liu has proven that creativity and determination can be the driving factors behind the success of any investment. This Chinese entrepreneur has surprised people by creating a business, JD.com, and transforming it from one that was operating from a small physical office to that which has over 100 million global customers. In addition to that, the company fast turned into a multi-billion-dollar business after that transformation.

A look at his early days

Richard Liu Qiangdong was born in Jiangsu, a province in China. He spent his early childhood there going to primary and secondary schools. His mentors were his parents who worked at a local coal form. They always told him about the importance of hard work and a good education.

Because of their advice, Liu went ahead to join the People’s university of China. It was after graduating from this university that he noticed his passion for computers. He trained himself in computer coding and computer science and after that, he was ready to start his career. Refer to This Article for more information.

Focus on his career and business

When he graduated from the university, Richard Liu Qiangdong chose to be employed rather than going into business. He says that he wanted to get some experience under established companies before venturing into business. This saw him work for a company called Japan Life. It is a company that was a large scale distributor of natural supplements. He quickly learned the trade impressing his employers who appointed him to be the director of computers. However, in 1998, he decided that it was time to start his own company and therefore he left employment.

His first business was selling magneto-optical products in a shop that he rented in a local town. After some time, Richard Liu decided to go for online customers and therefore, Liu created an ecommerce website. The fast growth of his business is what led him to partner with other companies that wanted to sell their products on his platform, JD.com.

Today, JD.com stands at about $60 billion whereas his personal net worth is about 12.7 billion. And in 2017, Richard Liu became a “Variety500 Honoree” as a result of his persistence, innovation, and hard work. During his free time, the billionaire loves to either spend time with his family or volunteering at Red Cross.

 

More about Richard Liu on http://corporate.jd.com/richard-liu-jd-ceo-about

 

 

 

In the Time Of Richard Liu Qiangdong

 

Richard Liu Qiangdong is the founder and CEO of JD.com, the multi billion-dollar Chinese e-commerce company. JD.com is estimated to serve more than 100 million customers every year. Qiangdong first entered adult life by earning a B.A. in Sociology from The People’s University of China. It was while taking his Sociology classes, that he taught himself computer coding. After graduation, he entered professional life with a position with Japan Life, a natural supplement provider. By the time he left Japan Life in 1998, he was its Director of Computers.

It was at this time that he went into business for himself. He opened a small store that dealt in magneto-optical products. It soon became very well known among technology customers for selling top-quality, authentic products, things were hard to find at that time in the Chinese world of technology stores. In this way, he set himself apart from his competition for the distinct better. It also set itself apart as a startup by being successful right out of the gate instead of needing several years to achieve that profitability. Read This Article for more information.

Liu Qiangdong did well that in only five years he had 12 stores, which by that time he had named JingDong. However, he rethought this brick-and-mortar business model after the Chinese SARS outbreak most consumers to stay inside most of the time. As a result, many brick-and-mortar businesses were going under.

However, Qiangdong saved his company by remaking it as an e-commerce company called JD.com. This has since proven many times over to have been an incredibly wise decision. In two years more he had closed all of his brick-and-mortar companies and it was just its online version. Liu immediately concentrated on making his online-business very user-friendly.

Because of Qiangdong’s success in selling other goods online, Richard Liu Quiangdong has now been ranked by Business of Fashion as a top 500 “Most Influential Person In The Fashion Space”. Fashion is, of course, a $2.4 trillion market on its own.

In the ensuing years, he began selling much more than just technology products on JD.com with the result the today it is viewed as the Amazon.com of China.

 

Visit: https://www.bloomberg.com/billionaires/profiles/qiangdong-liu/

Richard Liu Qiangdong Interview Recap

Richard Liu Qiangdong is an entrepreneur whose business acumen has seen him become the founder of world-renowned company JD.com. Liu’s success rate has earned him respect across the world, and his understanding of the online business model makes JD.com, previously known as Jingdong, a success.

In his interview, he states that he always wanted to be a business owner and when an opportunity arose, he ensured that he implemented his ideas strategically to create the business. It is not to say that his journey has been easy; having lost money in a restaurant business, Liu Qiangdong highlights the lessons he learned from this failure.

Richard Liu Qiangdong identified this loophole, and it was evident the lack of economies of scale resulted in low profits and high costs. He thus entered into e-commerce at the early stages where people still understood the internet phenomena. It has over the years given his business an upper hand as more competitors join the online retail space.

The interview makes it clear that strategic management lies at the core of the business and Richard Liu Qiangdong encourages other entrepreneurs to adapt to the same. His business model runs on efficiency and integrity evidenced by the short delivery period of products at JD.com. He further encourages that businesses learn customer service and ensures that costs are low to earn more profits while delivering quality products.

In his interview, Richard Liu Qiangdong discloses his personal life stating that he has a family which acts as a source of motivation. Trust in his opinion is built by delivery of products which exceed customer expectations and hence counterfeiting is not a right approach. It is because it limits the expansion prospects as consumers lose trust in the brand. See This Page for related information.

In a world where competition is on the rise, Richard Liu Qiangdong discloses that he can maintain his company as a leader through various strategies. It includes having variety at low prices to reach out to varying tastes and preferences. It is supported by his business model which ensures that stock is not stored for long time frames. Richard Liu Qiangdong depicts the importance of hard work and integrity in running a business.

 

Visit: https://www.therichest.com/celebnetworth/celebrity-business/men/liu-qiangdong-net-worth/

 

Richard Liu Interview

 

Richard Liu was recently interviewed at the World Economic Forum Annual Meeting in Dallas. He is the founder of JD. Com. JD.com is the largest online retailer in China, serving more than 20 million people. Davos Kloster interviewed Richard Liu to get his perspective on e-commerce.

Liu’s parents owned a transport business in China but were poor. Liu decided at a young that he wanted to be an entrepreneur. He graduated with a degree in sociology but did not pursue a career in that field. He realized that he could not make much money from sociology and enrolled for a programming course. After getting a programming certificate, Liu Qiangdong worked at Japan Life for two years. Good work earned him promotions. He was chosen the director of business and computers at the company.

He opened a restaurant from earnings from computer programming. However, the business failed to pick up because Richard Liu only dedicated two hours to the business. At the time he was under pressure to raise money for medical treatment of his sick grandmother. In 1998, Richard Liu rented a four square meter store to sell magneto products. His products were called Jingdong. Liu Qiangdong later expanded to twelve stores when the business picked up in 2003. However, the SARS outbreak affected the business because he could not meet face-face with clients. He closed all the stores and opened an online platform. He doubtful about its success but decided to try. Qiangdong diversified products to attract more customers. JD.com is the largest online retailer in China, delivering goods within hours.

Richard Liu wants to be remembered as a good person and a good son. He cherishes the time he has spent at the company and wanted people to learn from his mistakes. Liu likes spending time with his family during his free time. He also counsels young people about starting and managing businesses. Richard Liu, a company, cannot attain success without appreciating its employees. Developing a good relationship with employees creates a friendly environment for workers. He wants to be remembered as a good employer. He encourages other entrepreneurs to work hard and be smart. View Additional Info Here.

 

View source article: https://jdcorporateblog.com/about-liu-qiangdong/

Richard Liu Qiangdong Determined To Make Jingdong The Best E-commerce Company In The World

In the last few years, the e-commerce industry has taken up in a big way, and just about every sector is trying to grab the opportunity that the internet has to offer. China has one of the largest e-commerce markets in the world and one of the e-commerce giants that have been dominating the Chinese market for over a decade is JD.com.

 

The company started off as a physical retail operation but had to switch to the online retail business after it suffered financially during the SARS outbreak. The reason the company has been able to come out of the struggle it went through initially and is on the top today is due to the visionary leadership provided by its founder and chairman, Richard Liu Qiangdong.

 

He comes from a humble background and dreamt of getting rich one day. Richard Liu was very passionate about business and entrepreneurship from the very beginning and wanted to achieve something big always. Richard Liu Qiangdong knew that education is important to climb the ladder of success, so he completed his graduation from the Renmin University and went for post-graduation from the China Europe International Business School.

 

Richard Liu Qiangdong knew that to keep growing and branch out, collaboration with other leading business giants is necessary. It is for this reason he sold a stake from his company to major corporations like Tencent and Walmart. It helped boost the growth of JD and also ensured that it is able to branch out internationally with ease.

 

Liu is determined to take over its competitors within the next five years. Liu is dedicated to invest in technology and to improve their efficiency. He was so sure of his company to succeed that he had invested in a huge land back when he started the company because he knew that his company would need that amount of space in the near future. Since people today do not have the time and the patience to go to retail stores, online shopping is changing the way people shop not just for clothes, shoes, tech products, but even household products. Richard Liu Qiangdong wants to take advantage of this shift. Click Here to learn more.

 

More about Richard Liu Qiangdong on https://www.bloomberg.com/billionaires/profiles/qiangdong-liu/

JD.com Partners With Japanese Company To Make Largest Plant Factory

 

The latest news point to the arrival of a new plant factory that features Japanese technology in the form of lighting and more. It will be the largest plant factory to be opened as they partnered up with Mitsubishi Chemical, a Japanese company to bring their own technology to the state of the art facility. The facility is huge, being about “11,040 square meters” according to the JD blog, and be a “hydroponic” system with solar lighting.

 

Online site and retailer JD.com or as known by many Chinese as Jingdong Mall, sells all the essential items that a person can want in the form of electronics, beauty products, appliances, and more, but it also sells vegetables with their 7FRESH supermarkets and on their website.

 

Jingdong Mall was created by entrepreneur Liu Qiangdong and has only been able to expand and continue to be very successful. The facility will serve of utter importance as the plant factory will be producing spinach, cabbage, lettuce, coriander, and more. The advancement of technology has given people the option to buy their goods online, even food, and all plants at the facility will be tracked throughout the whole process. In today’s age, it is even more important for people to make sure that they get quality content as chemicals and pollutants have found their way into the food. Go Here for related Information.

 

Jingdong is promising healthy vegetables inside their plant factory as people will be on the watch to make sure temperatures and light fixtures are controlled by the management team. With the Japanese technology given to them, it eliminates the need for washing and the pollutants and pesticides not be added onto the vegetables. What makes the factory even more productive is that the big space allows them to create more content and it does not need as much water either like other companies.

 

Both Mitsubishi and JD.com are excited in the partnership and in providing customers with fresh and healthy vegetables. Anyone can now buy fresh vegetables from the plant or on the website as the two plan to introduce more to the facility later on.

 

See also: https://www.gizmochina.com/2018/06/22/googles-550-million-investment-in-jingdong-could-see-its-hardware-products-selling-on-jd-com/

 

 

 

 

Richard Liu Qiangdong And His Journey That Gave Birth To JD.Com

 

A mention of JD.com and the man that comes to mind is one Richard Liu Qiangdong.

Liu Qiangdong is one of China’s most prominent and wealthiest businessmen. Richard Liu’s business life is characterized by simple steps of seizing opportunities and making the opportunities profitable. This mantra is what has made JD.com a successful online business in China, ranked third in China’s online business space.

Richard Liu Qiangdong’s first business venture was a hotel he operated while he still attended university at Renmin University. Using the lessons he learned from his parent’s canoe business, Richard ensured that the hotel venture remained operational. Sadly, the company suffered and was shut down because he had to juggle school and work. After university, Richard Liu decided to take on a different path, not seek employment but start his venture. He opened his computer selling business in 2004, and the Jingdong brand grew to a 12-outlet operation. Go Here for more information.

The SARS pandemic caused significant concerns around the world, and Jingdong operations suffered during this time. The management agreed that they had to close up the physical stores until the SARS issue was addressed. During this time, Jingdong’s management was considering opening an online as a response to the hit the business had taken. This decision, two years later, would birth JD.com and the success that it now enjoys today.

JD.com has a market valuation of $60 Billion with the value expected to go up further with the expansion plans the company has in mind. The brand is looking to expand to Asia, Europe and the United States of America in the coming years. It offers various products key among them technology equipment, household appliances among others.

Despite his growing success, Richard Liu has not forgotten the importance of family. He is a loving husband and an admiration to his two kids. In his own words, the name Jingdong was a product of a section from his wife’s name, Jing and Dong, from his last name. This indeed shows where his family lies in his life.

Richard Liu Qiangdong is a business leader whose life offers much insight into what one can do to be successful. He remains a role model for many in the business scene.

 

Source: https://www.crunchbase.com/person/qiangdong-liu

JD.com Helping Bookstores In China

 

Jingdong Mall, also known as JD.com, an online website with a variety of products that can be purchased that range from electronics, beauty products, food, and much more. Bookstores have been struggling all across the world for quite some time with the advancement of technology in today’s society as book sales and more have been declining.

Thanks to JD.com, bookstores in China have had more sales and more of an income according to a blog post from JD. JD’s platform has its own system of selling books and other companies are giving information to bookstores to learn more and do well.

JD.com has provided technical services to restaurants and more places; by using their own technology and passing it down to other companies, they have been able to give other brands a boost in sales and provide better delivery service to customers. Providing excellent service is at the heart of JD.com and now they have done that for other companies equally. For example, as listed in the blog post, a company called Tangning Books has benefited in delivery and revenue from JD.com.

By using logistics and with a better delivery service they have been able to save the brand more money. With the two working together, they have been able to get valuable insight into what customers want and specifics on sales. The founder of Tangning Bookstore was grateful and had kind words to say about JD.com, who assisted them a lot to increase their revenue and provide better delivery services to customers. Using technology, however, has helped the company to a point with a service to scan QR codes so they can find availability for books that can’t be found in stores.

JD’s service has been able to help out others such as a restaurant called Wang Shun Ge to save money on deliveries. JD.com’s service has been able to help out bookstores and restaurants. Read This Article for more information.

 

More about JD.com on https://www.amazon.com/JD-com-Story-commerce-Phenomenon/dp/1910649716