The Secret to Richard Liu Qiangdong’s Success

 

When Richard Liu Qiangdong was growing up, he used to work in his parents transport business on the canals moving coal from north China to south China. This business was not a very profitable one and his parents still work in transport, but Mr. Liu decided to strike out on his own while he was still in college. Richard decided to open own restaurant, but because he was still in college trying to finish his last two years, Richard Liu’s restaurant did not stay open. Liu learned a valuable lesson that money alone will not build a successful business, you also need time to devote to any enterprise.

After graduation in 1996, Richard Liu had two choices: continue college abroad (as was the fashion then) or pay to enter a government position. Richard decided to not do either of those things and instead opened what would be the beginning of the business he still runs today. Jingdong sold authorized parts and tech equipment, which was a rarity when the market at that time was flooded with counterfeit parts. Mr. Liu eventually had 12 physical shops by 2003. A large part of his livelihood depended on face to face interactions, so when the SARS epidemic hit in 2004, Richard along with his managers decided to close the physical stores and try to fulfill orders online instead. Click Here for more information.

JD.com has grown into one of the biggest e-commerce sites in China. Richard Liu Qiangdong’s company has mastered the art of authentic products with good customer service and as quick as a 4 hour turn around in some areas of China, making it possible for JD.com to branch out into many other categories of products such as grocery shopping and delivery. For the future, Mr. Richard Liu would like to see more world commerce. JD.com could become a major contender against the giant online services such as Amazon or Ebay.

 

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