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He is the recently named China’s richest man - the man who took Alibaba Group, China’s largest e-commerce business, to the biggest IPO in US history. His name is Jack Ma.
There is something interesting about successful Chinese entrepreneurs and leaders. I always find them to be much deeper and more humble than their American counterparts. After reading several articles about Jack Ma, I particularly admire him for starting out as an English teacher earlier in his life with no technical background, but great foresight, ambition, and determination.
Here are the 15 Life and Business Lessons from Jack Ma (translated from Chinese to English).
Your attitude is more important than your capabilities. Similarly, your decision is more important than your capabilities.
You cannot unify everyone’s thoughts, but you can unify everyone through a common goal. Let your colleagues and employees work for a common goal.
A leader should never compare his technical skills with his employee’s. Your employee should have superior technical skills than you. However, a good leader should have more foresight, higher tenacity, and higher endurance for failure than his employees.
Giving up is the greatest failure.
Only fools use their mouth to speak. A smart man uses his brain. A wise man uses his heart.
The world will not remember what you say, but it will certainly not forget what you have done. Don’t make complaining or whining a habit.
Adopt and change before any major trends or changes.
Your attitude determines your altitude.
A great opportunity is often hard to be explained clearly. Things that can be explained clearly are often not the best opportunities.
“Free” is the most expensive word.
When starting a business, you must have the ability to see, the ability to understand what is going on, and the ability to keep up with the pace.
When you’re small, focus and use your brain instead of your physical strength.
If you have a different mindset, you will have a different outcome: if you make different choices from your peers, your life will then be different from your peers.
The most unreliable thing in this world is human relationships.
Starting your company means you will lose your stable income. But it also means your income will no longer be limited, you will use your time more effectively, and you will no longer need to beg for favours from people anymore.
< This article was originally published in Chinese and was translated into English. Please share if you find this helpful.>
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Solid evidence
Awesome to see this.
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THE IMPORTANCE OF HAVING AN AVAILABLE PRODUCT
Work Smart Show daily blog. What are the reasons people buy your product? Undoubtedly this question has many answers and I want to focus on the lesser known today, that of reciprocity. Of course many people buy a product because they need it, want it, have worked to be able to buy it or often times because they want to thank the vender.
I want to look at the case study of Patt Flynn, host of the Smart Passive Income and Ask Pat podcasts, who wrote his first book, Will it Fly, in late 2016. Now Pat is someone who provides immense amounts of value to his listeners through both of his podcasts and really builds into his listeners, taking an episode each to answer their questions even though they could be considered competition.
So it was that when he released his book and surveyed the reasons that people were prompted to buy it he found a strange trend. He found that many people were buying to support his work and his brand. He had provided so much free advice and material for them that they wanted to financially pay him back and so many bought the book even if it wasn’t relevant to them.
This idea fascinated me and I have seen it in several other situations recently such as my wife buying a products to support her favorite YouTuber simply because she wanted to financially support them. Now undoubtedly people buy your products because they need or want them, but are people also buying to support or thank you or your business.
This provides us with two very key takeaways to implement in our business. If you are in a business or entity that sells services or media maybe consider a physical product that people can buy to support you. Secondly if you have products available for sale are you providing enough valuable content that makes followers or customers feel they want to support you with their purchasing power?
If you don’t quit, and don’t cheat, and don’t run home when trouble arrives, you can only win.
Shelley Long (via beinchargeofyourlife)