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.
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